NEWARK, Del, April 05, 2023 (GLOBE NEWSWIRE) -- The global bio vanillin market was worth US$ 167.32 Million in the year 2021 and is expected to reach US$ 255.2 Million by the year 2032 at a CAGR of 7.4% between 2022 and 2032.
The global bio vanillin market is expected to grow due to positive outlook on the part of food & beverage industry in marketplaces like India, China, Malaysia, and Vietnam. These days, biotechnologically derived vanillin is in the offing.
Bio vanillin does suffice untapped markets like perfumes or premium or luxury food items. With natural ingredients being in greater demand to derive personal care formulations, the global bio vanillin market is expected to grow graciously in the forecast period.
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Besides, westernization of the food eating habits has rendered popularity to bio vanillin food products. The customers are hunting for innovative and experimental food options as the market has a broad spectrum of food like regional cuisines and barbeques. Demand for cross-cultural food is another factor driving the bio vanillin market.
The customers are also turning out to be all the more health-conscious along with being aware of health risks linked with unnatural food ingredients. The governments are also pressing for stern labeling regulations, which support the market.
However, fluctuations in weather could result in vanilla pods getting damaged, which could restrain the bio vanillin market going forward. Another factor is higher price of raw materials.
Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Bio Vanillin Market’. It has its team of analysts and consultants to deploy a bottom-up approach in its primary, secondary, and tertiary modes of research.
“Flourishing food & beverage vertical is expected to take the bio vanillin market by storm in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Bio Vanillin Market
- The Asia-Pacific holds the largest market share with consumers preferring innovative foodstuff such as authentic cuisines, ethnic food, and likewise. In other words, consumers are gaining benevolence regarding ethnic food like Japanese salad including fruits, herbs, vegetables, and the other natural condiments making use of bio vanillin to flavor the food in remarkable quantity. Camlin Fine Sciences Ltd., did acquire 51% stake in Ningbo Wanglong Flavors and Fragrances Company Ltd. (China).
- North America and Europe are at the matured stage of bio vanillin market on the back of robust regulatory support herein. In both these regions, bio vanillin gets positioned as premium product fragment element in fragrances, drinks, and foodstuff.
- MEA is expected to grow in bio vanillin market with ice-cream and confectioneries vertical dominating the market.
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Competitive Analysis
- Archer Daniels Midland Company, in July 2018, did announce acquiring Rodelle, Inc., one of the suppliers of vanilla products in the US.
- Evolva, in March 2020, collaborated with IFF (International Flavors and Fragrancies) – one of the global creators of nutrition and taste for consumer products – to commercialize vanillin.
Bio Vanillin Market- The Key Players
- Evolva Holding
- Firmenich SA
- Solvay
- De Monchy Aromatics
- Advanced Biotech
- Givaudan
- Omega Ingredients Limited
- Others
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Bio Vanillin Market- The Segmentations
By Application
- Food & Beverages
- Ice Cream
- Bakery and Confectionery
- Chocolate
- Other foods
- Pharmaceuticals
- Fragrances
- Cosmetics
- Others
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What does the Report say?
- The research study is based on application (food & beverages (ice-cream, bakery and confectionery, chocolate, and other foods), pharmaceuticals, fragrances, cosmetics, and likewise).
- With vanillin powder increasingly being used as a flavoring agent in pharmaceuticals and food & beverages verticals, the global bio vanillin market is bound to grow on a good note in the forecast period.
Table of Content
1. Executive Summary | Bio Vanillin Market
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Definition
2.2. Market Taxonomy
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
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