Dublin, Jan. 16, 2024 (GLOBE NEWSWIRE) -- The "Vanilla Extract Market Size and Forecasts 2020 - 2030, Global and Regional Share, Trends, and Growth Opportunity Analysis By Form, Category, Application, and Geography" report has been added to ResearchAndMarkets.com's offering.
The global vanilla extract market is expected to grow from US$ 261.11 million in 2022 to US$ 409.93 million by 2030; it is estimated to register a CAGR of 5.8% from 2022 to 2030.
Based on category, the global vanilla extract market is bifurcated into organic and conventional. The organic segment expected to register highest CAGR in the forecast period. The organic vanilla beans are grown in soil that is free from chemical fertilizers and other genetically modified ingredients. Synthetic pesticides and herbicides are also prohibited for organic vanilla farming. Organic vanilla extract is minimally processed, with no fumigation or irradiation, which preserves its original flavor and aroma. Many regulatory bodies across different countries provide certification to companies involved in organic farming and manufacturing. Generally, organic vanilla extract is of superior quality and expensive as compared to conventional vanilla extract. Therefore, the demand for organic vanilla extract is projected to increase as customers demand premium quality and more natural products.
Asia Pacific is expected to register the highest CAGR in the global vanilla extract market over the forecast period. The market in Asia Pacific is driven by the upsurge in demand for natural ingredients and the growing influence of 'clean-label products' among the population in Asia Pacific. Consumers seek natural additives in food and beverages, boosting the demand for vanilla extract in Asia Pacific countries. Due to lifestyle changes, urbanization, and stressful lives, people prefer to take aromatherapies for physical and emotional well-being. Vanilla extracts are increasingly used in oils that play a vital role in aromatherapy. These factors propel the market growth in the region. Since ancient times, natural extracts have been used in personal care and cosmetics products. Further, natural vanilla extract possesses antioxidant and antibacterial properties that prevent breakouts while soothing redness and inflammation. Japan is famous for various cosmetics. Demand for organic and natural cosmetics is growing in the country. Therefore, the preference for vanilla extract over artificial ingredients is increasing in cosmetic products. All these factors boost the vanilla extract market growth in Asia Pacific.
The key players operating in the global vanilla extract market include Eurovanille, Prova SAS, Tharakan and Co, HE Stringer Flavours Ltd, Natural Vanilla Pty Ltd, Kerry Group plc, Archer-Daniels-Midland Co, Virginia Dare Extract Co Inc, Lochhead Manufacturing Co, Synergy Flavors Inc. These companies are highly involved in research and development activities to launch vanilla extracts at competitive prices. Moreover, these companies are adopting new technologies to scale up their production to meet the rising demand across the globe. Thus, strategic development initiatives by these major players in the market are anticipated to drive the market.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 149 |
| Forecast Period | 2022-2030 |
| Estimated Market Value in 2022 | 261.11 Million |
| Forecasted Market Value by 2030 | 409.93 Million |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
Key Topics Covered
1. Introduction
1.1 Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Market Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Vanilla Extract Market Landscape
4.1 Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturing Process
4.3.3 Distributors or Suppliers
4.3.4 Application
4.4 List of Vendors
5. Vanilla Extract Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Wide Range of Applications of Vanilla Extract in Food & Beverage Industries
5.1.2 Rising Adoption of Vanilla Extract in Personal Care
5.2 Market Restraints
5.2.1 Price Volatility and Supply Shortage
5.3 Market Opportunities
5.3.1 Expanding Demand for Natural/Clean-Label Ingredients
5.4 Future Trends
5.4.1 High Demand for Organic Vanilla Products
5.5 Impact Analysis of Drivers and Restraints
6. Vanilla Extract Market - Global Market Analysis
6.1 Vanilla Extract Market Revenue (US$ Thousand), 2020-2030
6.2 Vanilla Extract Market Forecast and Analysis
7. Global Vanilla Extract Market Analysis - Form
7.1 Liquid
7.2 Powder
8. Global Vanilla Extract Market Analysis - Category
8.1 Organic
8.2 Conventional
9. Global Vanilla Extract Market Analysis - Application
9.1 Food & Beverages
9.2 Personal Care
9.3 Others
10. Vanilla Extract Market - Geographical Analysis
10.1 North America
10.2 Europe
10.3 Asia Pacific
10.4 Middle East and Africa
10.5 South and Central America
11. Vanilla Extract Market - Impact of COVID-19 Pandemic
11.1 Pre & Post COVID-19 Impact
12. Competitive Landscape
12.1 Heat Map Analysis By Key Players
12.2 Company Positioning & Concentration
13. Company Profiles
13.1 Eurovanille
13.2 Prova SAS
13.3 Tharakan and Co
13.4 HE Stringer Flavours Ltd
13.5 Natural Vanilla Pty Ltd
13.6 Kerry Group Plc
13.7 Archer-Daniels-Midland Co
13.8 Virginia Dare Extract Co Inc
13.9 Lochhead Manufacturing Co
13.10 Synergy Flavors Inc
For more information about this report visit https://www.researchandmarkets.com/r/8o521w
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