Bio Vanillin Market to Expand 2X by 2029, on Back of Increasing Worldwide Demand for Vanilla Flavored Products
Published On : Mar 04, 2020
The lower production rate of pure natural vanilla and the increasingly negative perception of synthetic flavors among consumers are a few reasons why the use of bio vanillin by food and beverage manufacturers that strive to offer vanilla-flavored products is expected to increase, which is significantly contributing to the growth of the global bio vanillin market. Vanilla is one of the most preferred flavors among consumers, which is evident from the fact that, vanilla-flavored food and beverage products such as vanilla ice cream, vanilla-based beverages, and vanilla flavored chocolates are highly consumed across the world. Moreover, vanilla-flavored alcoholic beverages are also gaining traction.
Increasing demand for vanilla-flavored food products, attributable to the ability of vanilla to enhance the taste of a wide range of desserts and confectionery items, is also another factor that is pushing the growth of the global bio vanillin market, projected to reach a valuation of US$ 665 Mn by the year 2029.
Key Takeaways of Bio Vanillin Market Study
- Europe holds a significant share in the global bio vanillin market, as the region has the largest number of consumers as well as producers of bio vanillin.
- The rice bran bio vanillin segment, under source, is projected to register a significant growth rate, along with holding the highest value share in the global bio vanillin market over the forecast period of 2019-2029.
- The bio vanillin market in East Asia, followed by South Asia, is anticipated to register significant growth over the forecast period, owing to the increasing popularity of vanilla-flavored food and beverage products in the region.
- The cosmetics & personal care segment, under end use, is projected to register the highest growth over the forecast period. However, the food and beverages segment is expected to hold the highest value and volume share in the global bio vanillin market over the forecast period of 2019-2029.
“The addition of clean and clear label offerings, with a focus on meeting the specific requirements of manufacturers of food and beverages and personal care & cosmetic products is anticipated to enable players in the bio vanillin market gain substantial profits,” says a PMR analyst.
Bio Vanillin Market: Competitive Landscape
Revenue of the bio vanillin market is estimated at US$ 333 Mn in 2019. Manufacturers offering bio vanillin are facing challenges regarding competitive pricing in the global vanilla flavors market. Key players are focusing on the penetration of their bio vanillin products in emerging markets. Major players in the global bio vanillin market, such as Evolva Holding SA, Borregaard, and Solvay SA, are investing in extensive research & development to explore new methods of bio vanillin production, and are focusing on increasing their production capabilities.
- In October 2018, Solvay opened its new Vanil’Expert Center (VEC) in New Jersey, North America. The center offers technical and product development support for the company’s vanillin-based solution.
Explore More Valuable Insights on Bio Vanillin Market
Persistence Market Research, in its new report, offers an impartial analysis of the global bio vanillin market, presenting historical data (2014-2018) and estimation statistics for the period of 2019-2029. The study offers compelling insights on the bio vanillin market based on source (rice bran, wood, and others) and end use (food and beverages, cosmetics and personal care, and pharmaceuticals), across seven regions.
For additional insights on how the bio vanillin market will shape up over the next decade, write to email@example.com
About the Food & Beverage Division at Persistence Market Research
The Food and Beverage team at Persistence Market Research provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients, worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
Bio Vanillin Market
Global Market Study on Bio Vanillin: Growing Awareness Regarding Health Benefits of Bio-based Products Supporting Market Growth
Global Market Study on Bio Vanillin: Growing Awareness Regarding Health Benefits of Bio-based Products Supporting Market GrowthRequest TOC