Wilmington, Delaware, United States, Transparency Market Research Inc. -, Sept. 06, 2024 (GLOBE NEWSWIRE) -- The global bio vanillin market (바이오 바닐린 시장) was projected to attain US$ 451.0 million in 2023. It is anticipated to garner a 7.2% CAGR from 2024 to 2032, and by 2032, the market is likely to attain US$ 851.1 million.
The flavoring component bio vanillin, sometimes referred to as natural vanillin, is derived from naturally occurring sources such wheat, tea leaves, rice, plants, and vegetables. Compared to conventional vanillin manufacturing procedures, it is a natural and sustainable way to flavor a variety of products, reducing reliance on non-renewable resources and having a smaller environmental effect.
Bio vanillin lowers the chance of developing many chronic illnesses. Because of this, it is widely utilized in the global food and beverage (F&B), cosmetic, and pharmaceutical sectors.
Key Findings of the Market Report
- Natural products like bio vanillin are widely employed in a variety of industries. It's a clean-label product that tastes and smells just like artificial vanillin. Customers are growing increasingly concerned about their health.
- Products with natural tastes and less artificial additives are what they are actively searching for. Consequently, the bio vanillin market is growing due to consumer desire for natural and clean-label components rising.
- Bio vanillin extends the product's shelf life and improves its aroma. So, one of the primary factors driving the growth of the bio vanillin market is increased consumer awareness of the harmful effects artificial flavors have on one's health. It is also projected that the market would be supported by an increase in demand for bio vanillin in the food and beverage industry.
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Market Trends for Bio Vanillin
- Using renewable feedstock like lignin or ferulic acid, bioconversion produces biovanillin, a more environmentally friendly option to synthetic vanillin synthesised using petrochemicals. It is also employed in the food and pharmaceutical sectors as a flavoring ingredient.
- To maintain their organic appeal, food products made with organic ingredients are flavored with bio vanillin. Bio vanillin is also used to toxify food and finds use in medication flavorings since it lessens the unpleasant taste and smell of medicinal drugs. Therefore, it is anticipated that the growing demand for organic food products would propel the expansion of the bio vanillin market in the near future.
Global Market for Bio Vanillin: Regional Outlook
- Europe held a majority of the biovanillin market in 2023, according to the most recent data. The high per capita income and growing appeal of biovanillin are driving the region's market dynamics. The bio vanillin industry share in Europe is also being driven by the approval of vanilla as a food additive in a number of nations.
- Significant increase is expected to occur in Asia Pacific throughout the projection period. The statistics for the bio vanillin market in the region are being enhanced by the growth of the food and beverage industry. Asia Pacific's top markets for biovanillin are China, India, and Indonesia.
- The demand for bio vanillin in North America is being driven by a rise in customer preference for natural products and health consciousness.
Global Bio Vanillin Market (Marché de la vanilline bio): Competitive Landscape
Leading companies in the bio vanillin market are offering reasonably priced natural flavors that comply with strict food safety regulations and allow for clean labeling.
To keep their leadership position and increase their market presence, they are also implementing a number of initiatives, including mergers and acquisitions and development of new products. The following companies are well-known participants in the global bio vanillin market:
- Evolva Holding SA
- Solvay SA
- Apple Flavor & Fragrance Group Co. Ltd.
- Prinova Group LLC
- Borregaard
- Moellhausen S.P.A.
- Camlin Fine Sciences Ltd.
- Ennloys
- Conagen, Inc.
- Axxence Aromatic GmbH
- De Monchy Aromatics
- Omega Ingredients Ltd.
- Comax Flavors
- Alfrebro LLC
Key developments by the players in this market are:
- Danstar Ferment AG, a Lallemand Inc. affiliate, completed the purchase of Evolva AG from Evolva Holding AG in January 2024.
- Three additional natural flavoring components were added to Solvay's flagship product, Rhovanil Natural CW, in 2022. Natural Rhovanil Delica, Sublima, and Alta.
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Global Bio Vanillin Market Segmentation
By Source
- Rice Bran
- Wood
- Others
By End Use
- Food & Beverages
- Bakery & Confectionery
- Dairy
- Beverages
- Cosmetics & Personal Care
- Pharmaceuticals
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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