Vanilla Market Regional Outlook 2019 | Industry Size, Share, Growth, Emerging Trends, Global Demand, Application, Sales, Business Development and Forecast 2024

September 12 02:58 2019
Vanilla Market Regional Outlook 2019 | Industry Size, Share, Growth, Emerging Trends, Global Demand, Application, Sales, Business Development and Forecast 2024

Vanilla Market Research Report—Forecast till 2024
Global Vanilla Market Research Report by Revenue, Gross Margin, Business Expansion, Segmentation by Form (Liquid, Powder, and Others), Category (Organic and Conventional), Application (Food & Beverage, Personal Care, and Others) & Region (North America, Europe, Asia-Pacific, and RoW) Industry Forecast till 2024

Market Scenario:

Vanilla is widely used in personal care products due to its fragrance. It is also used in the rubber industry to counter the unpleasant odor. Additionally, the anticlastogenic effect of vanillin, the compound found in vanilla, has led to its use in sun care products. This compound protects cells from harmful ultraviolet (UV) radiation and X-rays. Thus, these factors are expected to boost the growth of the global vanilla market soon.

Vanilla planifolia, or flat-leafed vanilla, is the scientific name of the vanilla plant of the Orchidaceae family. Vanilla is a leafy, thick vine, with wide fleshy leaves, which grows in tropical climates. Vanilla obtains its properties from vanillin, a compound that is generated in the curing process and during pod maturation. Vanilla is largely grown in Madagascar, Tahiti, Mexico, Indonesia, and India.

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Leading Key Players:

Some of the key players in the Global Vanilla Market are

  • E.A. Weber and CO. (US)
  • Organic Spices Inc (US)
  • Sensient Technologies Corporation (US)
  • Symrise AG (Germany)
  • Penta International Corporation (US)
  • Nielsen-Massey Vanillas Inc. (US)
  • Kerry Group plc (Ireland)
  • Heilala Vanilla Limited (New Zealand)
  • Firmenich SA (Switzerland)
  • Doehler GmbH (Germany)

Segmentation:

The Global Vanilla Market has also been segmented by Form, Category, and Application.

By Form, the global vanilla market has been classified as liquid, powder, and others. The liquid segment accounted for the largest market share in 2018 due to the convenient use and easy availability of this form of vanilla.

Based on Category, the global vanilla market has been divided into organic and conventional. The conventional segment accounted for the larger market share in 2018 owing to the widespread availability and lower prices of conventional vanilla as compared to organic vanilla. However, the organic segment is projected to register the higher growth rate during the forecast period due to changing consumer preferences.

The Global Vanilla Market has also been categorized, based on Application, as food & beverage, personal care, and others. The food & beverage segment has been further divided into bakery and confectionery, dairy and frozen desserts, sweet and savory snacks, beverages, and others.  The food & beverage segment is projected to be the largest market during the forecast period owing to the increasing use of vanilla in various food products. However, there is rising demand for vanilla in personal care products such as lotions, moisturizers, shampoos, and massage oils, resulting in the personal care segment registering the highest projected CAGR during the review period.

Regional Analysis:

The Global Vanilla Market has been studied for North America, Europe, Asia-Pacific, and the rest of the world.

North America is expected to dominate the global vanilla market due to a high preference for vanilla flavor and fragrance. The introduction of new products along with technological advances in the food & beverage and personal care industries is expected to drive the growth of the vanilla market in North America during the forecast period.

The vanilla market in Asia-Pacific is expected to grow at the highest pace during the forecast period. The region is emerging as a lucrative market for vanilla due to the expanding food & beverage and personal care industries. Vanilla is used extensively as a flavoring in chocolates, ice cream, candies, beverages, cakes, puddings, custards, and many other confectionaries. China, Japan, and India are the key contributors to market growth in the region.

Europe is expected to garner a significant revenue share of the vanilla market due to the increasing use of vanilla fragrance in various personal care products. As an aromatic, vanilla is used in products such as cosmetics, perfumes, detergents, lotions, fabric softeners, air fresheners, and aromatherapy products. The increasing usage of vanilla as an ingredient due to its fragrance by key personal care product manufacturers is one of the significant factors boosting the growth of the market in the region. Due to its strong aroma, vanilla is also widely used in rubber manufacturing to counter the unpleasant odor of rubber.

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The rest of the world is expected to garner a notable market share and the regional market is projected to register a considerable growth rate during the forecast period. The growing food & beverage industry in South America is fueling the growth of the vanilla market in the region. As vanillin, the compound found in vanilla, has strong anti-microbial properties, its use is rising as a natural preservative in various food & beverages products.

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