The global vanilla and vanillin market grew at a CAGR of 3% and 9% respectively during 2014-2019. Vanilla represents among the world’s most popular spices and an important ingredient in products ranging from chocolate to perfume. It also acts as an effective antimicrobial and has been shown to protect the body against bacteria, mold and yeast. For these reasons, vanilla represents an important ingredient in herbicides to prevent against disease-ridden crops. It also acts as an antimutagenic agent and reduces the rate of mutations in cells. Vanilla also contains properties that enable the body to inhibit angiogenesis which is the process of formation of new blood vessels. Vanillin is an aromatic compound extracted from vanilla pods after the harvest, fermentation, and curing process. The food and beverage industry currently represent the largest consumer of this market with vanillin representing one of the most common flavors used in a majority of food and beverages.
This market is currently being driven by a number of factors. The growing demand for frozen desserts and bakery products represents a key factor catalyzing this market. Moreover, vanillin has a strong ability to enhance the flavor in food products and has properties such as low-calorie content and high availability of antioxidants. This is also expected to drive its demand in the food and beverage industry. Some of the other major factors driving the demand of vanilla and vanillin are increasing disposable incomes, rising demand of processed foods, growing applications in the pharmaceutical and cosmetics industry, etc. Looking forward, IMARC Group expects the global vanilla and vanillin market to continue its moderate growth during the next five years.
On the basis of application, the vanilla and vanillin market have been segmented into food and beverages, cosmetics, pharmaceuticals and others. Among these, the food and beverages segment dominates both the vanilla and vanillin market.
Raw Material Insights:
On the basis of raw materials, the vanillin market has been segmented into beans, lignin, guaiacol and others (rice bran, clove oil, pine bark, etc.). Among these, guaiacol accounts for the majority of the market share.
Based on the end-use, the report finds that extract currently represents the largest end-use segment of vanillin. It is followed by powder and paste.
The competitive landscape of the global vanilla and vanillin market have also been analyzed. Some of the leading players operating in the market are:
Key Questions Answered in This Report:
The global vanilla and vanillin market size was valued at US$ 155.8 Million and US$ 168.8 Million respectively in 2020.
According to the estimates by IMARC Group, the global vanilla and vanillin market is expected to witness a CAGR of 19.4% and 9.7%, respectively from 2021 to 2026.
The rising demand for vanilla and vanillin in frozen desserts and bakery products represents one of the key drivers for the global vanilla and vanillin market.
The expanding utilization of vanilla and vanillin the pharmaceutical and cosmetic sectors represents one of the key trends in the global vanilla and vanillin market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous cafes, bakeries, restaurants, etc., thereby negatively impacting the demand for vanilla and vanillin.
On the basis of the product type, the market has been bifurcated into Madagascar bourbon, Mexican vanilla, Indonesian vanilla, Tahitian vanilla, and other. Currently, Madagascar bourbon holds the majority of the total market share.
On the basis of the product type, the market has been segmented into natural vanillin and synthetic vanillin. At present, synthetic vanillin exhibits a clear dominance in the market.
On the basis of the raw material, the market has been bifurcated into beans, lignin, guaiacol and others. Currently, guaiacol holds the majority of the total market share.
On the basis of the end use, the market has been segmented into extract, powder, paste and others. At present, extract exhibits a clear dominance in the market.
On the basis of the application, the market has been divided into food and beverages, cosmetics, pharmaceuticals and others. Among these, the food and beverages segment represents the largest segment.
Region-wise, the market has been classified into Asia Pacific, Europe, South and Central America, North America, and Middle East and Africa, where Asia Pacific dominates the global market.
The key companies in the global vanilla and vanillin market are Solvay, Apple Flavor & Fragrance Group, Evolva, Advanced biotech, and Jiaxing Zhonghua Chemical Co., Ltd.
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