According to the latest report by IMARC Group, titled “Vanilla and Vanillin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, The global vanilla and vanillin market is expected to grow at a CAGR of 2.2% and 8.3% respectively during 2021-2026. Vanilla is a flavoring which is derived from the pods of orchids belonging to the genus ‘Vanilla’ which has antimicrobial, antioxidant and antimutagenic properties. As a result, vanilla provides anti-aging skin benefits, reduces the rate of mutations in cells and protects the body against bacterial and yeast infections. It is one of the most popular and expensive spices in the world and is used in a variety of chocolate, confections, ice creams and cakes as a flavoring agent. Apart from this, it is also employed as an aromatic additive in the production of perfumes, incense, candles and air fresheners. Vanillin is an aromatic compound which is the primary component of the extract of the vanilla bean. Its taste is almost like that of vanilla, but it is relatively cost-effective. As a result, vanillin is a more preferred choice in the food and beverage industry as compared to vanilla.
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Market Trends:
Busy schedules and rising disposable incomes have significantly contributed to the rise in the demand for comfort food items such as frozen desserts, cakes and pastries. This, in turn, is increasing the demand for vanilla and vanillin as they form a crucial part in the processing of comfort foods. Since vanilla and vanillin have low-calorie content, they are preferred by health-conscious consumers as well. Moreover, increasing awareness about the health benefits associated with vanilla is influencing consumers to buy vanilla infused cosmetic and personal care products. Furthermore, a rise in the demand for natural vanillin extracts has led to the introduction of bio vanillin.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global vanilla and vanillin market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on product, application, raw material and end-use.
Competitive Landscape:
- Solvay
- Apple Flavor & Fragrance Group
- Evolva
- Advanced biotech
- Jiaxing Zhonghua Chemical Co., Ltd.
On the basis of product type:
- Madagascar Bourbon
- Mexican Vanilla
- Indonesian Vanilla
- Tahitian Vanill
- Others.
- Natural Vanillin
- Synthetic Vanillin.
On the basis of application,
- Food and Beverages
- Cosmetics
- Pharmaceuticals
- Others.
On the basis of raw materials,
- Lignin
- Guaiaco
- others (rice bran, clove oil, pine bark, etc
Based on the end-use:
- powder and paste.
Regional Insights:
- Region-wise, the vanilla market has been segmented into Madagascar, Indonesia, Mexico and Papua New Guinea, where Madagascar represents the biggest producer of vanilla. Madagascar is followed by Indonesia, Mexico, Papua New Guinea and Others.
- On a geographical front, the vanillin market has been segmented into Europe, North America, South and Central America and Middle East and Africa (MEA). Asia-Pacific currently represents the biggest producer of vanillin, followed by Europe, North America, South and Central America and MEA.
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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