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Vanilla Bean Market

Global Market Study on Vanilla Beans: High Demand for Vanilla Flavored Products across Industries Surging Demand

Vanilla Beans Market Segmentation By Product Type - Raw, Processed (Powder, Liquid, Paste ), Spiced Vanilla Beans.

Vanilla Beans Market Outlook (2023-2033)

The market for vanilla beans can be expected to expand at a value based CAGR of 4.75% and show an increase in revenue from US$ 2,575.4 Mn to around US$ 4,096.2 Mn by 2033.

Vanilla Beans Market Size (2023E)

US$ 2,575.4 Mn

Projected Sales of Vanilla Beans (2033F)

US$ 4,096.2 Mn

Value CAGR (2023-2033)

4.75%

Value Share of Top 4 Countries (2022E)

57%

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Vanilla Beans Consumption Analysis (2018-2022) Vs. Market Estimations (2023-2033)

The global vanilla beans market has witnessed significant growth in the historical period registering a CAGR of 4.5% in the historical period and was valued at US$ 2,575.4 Mn in 2023.

The production of natural vanilla beans is labor-intensive and time-consuming, and the crop is grown in specific regions only. Demand for vanilla exceeds the supply of natural vanilla beans. To meet this demand for natural vanilla, existing players in the vanilla bean market are carrying out various initiatives in vanilla bean growing regions such as Madagascar, Tahiti, Mexico, and Tonga, to help farmers increase production.

Increasing vanilla bean production would become a favorable market scenario for the vanilla bean market. Moreover, vanilla is currently one of the most demanded flavors in the food & beverage industry. Therefore, to meet this demand, increasing the production of vanilla beans is necessary.

For instance, Touton S.A. has joined the ‘Sustainable Vanilla Initiative’, which brings together multinational companies and NGOs that are involved in the vanilla supply-chain at various nodes to ensure adequate supply of vanilla in the future, along with stimulating economic growth in countries that produce vanilla.

The global market for vanilla beans is estimated to reach an approximate valuation of US$ 4,096.2 Mn in the forecast period.

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What are the Key Trends in the Market for Vanilla Beans?

“Growing Preferences for Organic and Chemical-free Food Products”

Millennials are looking for high-quality products that do not compromise on flavors and mouthfeel. The demand for natural vanilla beans for the production of pure natural vanilla extract is increasing, owing to the benefits of organic and non-GMO food ingredients. Additionally, organic food products are also gaining traction across the world, which has further increased the demand for organic vanilla beans in the market.

  • Madagascar Vanilla Company produces and exports vanilla beans that are organically certified, traditionally cured, and free from chemicals and pesticides.
  • The Madagascar region, which is responsible for 80% supply of vanilla beans, does not use chemicals and fertilizers for growing these beans throughout the region - an initiative taken by the government.

“Shifting Consumer Preference Toward Natural Flavors”

The way that consumers are perceiving natural food ingredients can be seen in their purchasing patterns, which are changing continuously with time. The adequacy of natural products is the most affecting factor for the expansion of the natural flavors market. Customer preferences have been influenced, owing to increasing consumer inclination toward food that does not contain artificial ingredients and chemical ingredients. This has led to increasing customer inclination toward natural flavors, thus increasing the demand for natural vanilla beans.

  • SAMBIRANO AROMATIC provides a wide range of natural Madagascar vanilla beans with an increased shelf life of the powders of vanilla beans of 12 months, thus keeping up with the demand for natural flavors.

“Rapid Urbanization & Increasing Per-capita Disposable Income in Asia- Pacific Countries to Bolster Market Growth”

Customers are spending more on natural food products as their purchasing power rises in developing economies, owing to increased health consciousness and a preference for healthier lifestyles. Increased adoption of hypermarkets/supermarkets, as well as online retail services that make natural flavours available in Asia-Pacific countries, particularly in China, India, Australia, and New Zealand, is expected to boost vanilla bean sales in these countries.

Companies such as Daintree Vanilla & Spice have begun growing vanilla beans in Australia as a result of the increasing demand for natural vanilla beans in this country, which is expected to drive growth in the Asia Pacific vanilla bean market in the coming years.

“Availability of Cheaper Alternatives for Vanilla Beans to Hamper Market Growth”

One of the components that has proven to be an impediment to the growth of the natural vanilla market is imitation vanilla, which mimics the taste of natural vanillin. Lignin Vanillin, a byproduct of the paper industry, and Ethyl Vanillin, a coal-tar derivative, are the two most common sources of synthetic vanilla. Consumers prefer the cheaper synthetic alternatives because they are much cheaper than natural vanillin from vanilla beans and meet the vanilla requirement.

Madagascar supplies 80% of the world's vanilla beans, and with farmers receiving less value for this labor-intensive crop, many of them have stopped growing vanilla, resulting in a significant decrease in supply and an increase in vanilla bean prices. The 2017 cyclones in Madagascar impacted prices even more, causing consumers to shift toward less expensive alternatives.

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Country-wise insights

Which Regions Are Expected to Project the Highest Growth?

Latin America and East Asia are expected to register the highest growth rates in the global vanilla bean market during the forecast period of 2020-2030. Latin American consumers are increasingly moving toward chemical-free food products, which is further augmenting the use of natural vanilla beans in food products in the region. In East Asia, the demand for vanilla flavor is growing due to rising consumption of Western food products.

What are the regions that are dominating the Vanilla Beans market?

Europe and North America are dominating the vanilla bean market with a major market value share. The major contributing factor is the higher utilization rate of vanilla in food products in these regions. In North America, vanilla is one of the major spices that is commonly used in food products. European food manufacturers along with cosmetic manufacturers as well have been using vanilla for a long time.

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Category-wise insights

Which Nature of Vanilla Beans Accounts for High Revenue Generation?

The conventional segment is responsible for the highest valuation in the global vanilla bean market. Farming of vanilla beans by conventional means is cheaper and less cost intensive as compared to its counterpart. This is why conventionally farmed vanilla beans hold over 90% of the global market share whereas even though adoption of organic farming is gaining traction in the global market but conventional will still continue to dominate the segment due to its commercial benefits as compared to organic farming.

Which product type is expected to show prominent growth in the forecast period?

The powder and paste segments hold an almost equal share of the market of US$ 591.9 Mn & US$ 523.8 Mn. Powder form of vanilla beans will continue to hold the major market share but will grow at a slower pace when compared with paste type based on the CAGR of 3.5% and 4.8% respectively.

Competitive Dashboard

Increasing the use of natural vanilla flavor in cosmetics along with the pharmaceutical industry is the contributing factor to the growth of the global vanilla bean market in the near future. Leading market players such as Amadeus Trading Co., The Madagascar Vanilla Company, Boston Vanilla Bean Company, and others are focusing on increasing trading practices and reinforcing their distribution networks to strengthen their positions in the global vanilla bean market. Increasing production capacity and improvement in quality are other strategies being adopted by key players to gain a competitive edge in the global vanilla bean market.

  • Vanilla bean by VANILLAPURA are only extracted with the finest spirits to create a safe place to buy vanilla extract. The company uses finest spirits to extract vanilla bean and also intends to help others by educating them about the world of vanilla bean and proper extraction techniques for it so that the use of synthetic vanilla extract is reduced by others.
  • With the consumer shift for convenience product Nielsen-Massey Vanillas Inc. introduced 2-ounce vanilla bean pastes. As a part of strategy for the first time customers seeking option for small bottle, the company introduced smaller size for its popular Madagascar bourbon pure vanilla bean paste and pure vanilla bean paste.
  • The collaboration between McCormick & Company, Inc. and IT behemoth IBM to advance and expand the use of artificial intelligence (AI) in flavour and food product creation was announced in February 2019.
    • By leveraging IMB's AI to learn and forecast new flavour combinations, product developers throughout the company's worldwide workforce will be able to explore flavour territories more rapidly and effectively.
  • Vanilla India Producing Company Limited sells high quality bourbon vanilla around the globe under the brand name Vanilla India. Along with bourbon vanilla, it delivers high range of high quality natural vanilla flavor with products such as vanilla bourbon bean, vanilla SCF extracts, vanilla sugar, and vanilla powder.

Vanilla Beans Industry Report Scope

Attribute

Details

Forecast period

2023-2033

Historical data available for

2018-2022

Market analysis

USD million for value

Key regions covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

Key countries covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC countries
  • Turkey
  • Northern Africa
  • South Africa

Key market segments covered

  • Product Type
  • Nature
  • End Use
  • Origin
  • Distribution Channel
  • Region

Key companies profiled

  • Archer Daniels Midland Company
  • Boston Vanilla Bean Company
  • Lemur International, Inc.
  • Lochhead Manufacturing Company
  • Madagascar Vanilla Company
  • McCormick & Company, Inc
  • Nielsen-Massey Vanillas, Inc.
  • SAMBIRANO AROMATIC
  • Symrise AG
  • Synthite Industries Ltd.
  • Takasago International Corporation
  • Tharakan and Company
  • Touton S.A.
  • Vanilco
  • VANILLAPURA
  • Venui

Report coverage

  • Market forecast
  • Company share analysis
  • Competition intelligence
  • DROT analysis
  • Market dynamics and challenges
  • Strategic growth initiatives

Customization & pricing

Available upon request

Vanilla Beans Industry Research by Category

By Product Type:

  • Raw
  • Processed
    • Powder
    • Liquid
    • Paste
  • Spiced Vanilla Beans

By Nature:

  • Organic
  • Conventional

By End Use:

  • Food
    • Bakery & Confectionery
    • Dairy & frozen Desserts
    • Nutritional Bars
    • Savory Products
  • Beverages
  • Cosmetics & Personal Care
  • Pharmaceutical
  • Nutraceuticals
  • Household/Retail

By End Use:

  • Madagascar
  • Mexican
  • Tahitian
  • Indonesian
  • Ugandan
  • Others

By Sales Channel:

  • Business to Business
  • Business to Consumer
    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Specialty Retail
    • Online Retail

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

- Companies Covered in This Report -

  • Archer Daniels Midland Company
  • Boston Vanilla Bean Company
  • Lemur International, Inc.
  • Lochhead Manufacturing Company
  • Madagascar Vanilla Company
  • McCormick & Company, Inc
  • Nielsen-Massey Vanillas, Inc.
  • SAMBIRANO AROMATIC
  • Symrise AG
  • Synthite Industries Ltd.
  • Takasago International Corporation
  • Tharakan and Company
  • Touton S.A.
  • Vanilco
  • VANILLAPURA
  • Venui

- Frequently Asked Questions -

The global market for vanilla beans has a value of US$ 2,575.4 Mn in 2023.

The top 5 countries driving demand include the US, UK, Germany, India, and China.

The global market for vanilla beans has a value of US$ 4,096.2 Mn in 2033.

The current trend implies demand for clean label products backed by consumers’ preference to natural and organic foods.

Increasing applications through desserts, bakery products, and functional foods are driving the demand for vanilla bean.

The global market for vanilla beans has a value CAGR of 4.75% from 2023-2033.

The top 5 players like Amadeus Trading Co., Madagascar Vanilla Company, SAMBIRANO AROMATIC, VANILLAPURA, and Neilsen-Massey Vanillas Inc. account for more than 60% of the market share.

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