According to the latest report by IMARC Group, titled “Bio Vanillin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global bio vanillin market size reached US$ 178.9 Million in 2022. Bio vanillin is derived from vanilla beans and known for its sweet and aromatic flavor. It has antioxidant and anti-inflammatory properties and produced via the fermentation process. It is a natural flavoring agent used in many food products and beverages as bio vanillin is considered a healthier alternative to synthetic vanillin.
Global Bio Vanillin Market Trends:
There is an increase in the use of bio vanillin in the preparation of various food products and beverages, such as chocolate, shakes, jam, jellies, ice cream, candies, smoothies, cookies, cakes, and biscuits. This, coupled with the flourishing food and beverage (F&B) industry, represents one of the key factors augmenting the market growth around the world. Moreover, the shifting consumer preferences towards low-calorie processed food products and beverages on account of the rising health consciousness among them is favoring the growth of the market. In addition, bio vanillin is employed in the pharmaceutical industry to add sweetness and viscosity to different medicines. This, along with the rising need for prescription drugs due to the increasing occurrence of chronic medical ailments among the masses, is propelling the growth of the market. Apart from this, the growing adoption of clean label cosmetics is catalyzing the demand for bio vanillin as organic preservatives that can be easily blended with other ingredients in various cosmetic and personal care products, such as fragrances, body washes, lotions, and shampoo. Looking forward, the market value is projected to reach US$ 267.0 Million by 2028, expanding at a CAGR of 6.7% during 2023-2028.
- Based on the source, the market has been segmented into rice bran, wood, and others.
- On the basis of the application, the market has been segregated into food and beverages, pharmaceutical, fragrance, and others. Food and beverages currently account for the majority of the total market share.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Advanced Biotech, Apple Flavor & Fragrance Group Co. Ltd, Archer-Daniels-Midland Company, BASF SE, Borregaard AS, Camlin Fine Sciences Ltd., Evolva Holding SA, Liaoning Shixing Pharmaceutical & Chemical Co. Ltd., Oamic Biotech Co. Ltd., Prinova Group LLC (Nagase America LLC), Solvay S.A., Sulzer Ltd., and Symrise AG.
|Base Year of the Analysis
||Source, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Advanced Biotech, Apple Flavor & Fragrance Group Co. Ltd, Archer-Daniels-Midland Company, BASF SE, Borregaard AS, Camlin Fine Sciences Ltd., Evolva Holding SA, Liaoning Shixing Pharmaceutical & Chemical Co. Ltd., Oamic Biotech Co. Ltd., Prinova Group LLC (Nagase America LLC), Solvay S.A., Sulzer Ltd. and Symrise AG.
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