Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Vanilla Extract Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
Emerging Trends and Robust Growth in the Vanilla Extract Sector Underscored in New Market Research Report
The latest market research report underscores substantial growth in the global vanilla extract market, with projections indicating an ascent to $6.09 billion by 2028. The report highlights pivotal factors contributing to market expansion, which includes a pronounced shift towards sustainable and natural products, advancements in extraction technology, and the burgeoning bakery and confectionery industries.
According to the report's findings, the Asia-Pacific region emerged as the dominant force in the vanilla extract industry as of 2023 and is expected to continue on a trajectory of accelerated growth throughout the forecast period. The surge is attributed to the region's expanding food and beverage sector and heightened consumer demand for natural flavoring agents.
The in-depth examination within the research points to the multifaceted applications of vanilla extract that spans across the food and beverage industry, with key segments including dairy products, particularly ice cream, and a vast array of bakery goods. The increasing popularity of artisanal and craft food markets additionally bolsters market growth, along with consumer inclinations towards health and wellness products.
Industry leaders are fueling innovation, with the introduction of distinctive products such as the premium Kilimanjaro Vanilla. Such innovations are not only emphasizing superior taste and quality but are also emphasizing ethical sourcing and sustainable practices, responding to the increasing consumer conscientiousness around production practices.
Market Highlights:
- Steady market growth with an anticipated CAGR of 4.1% from 2024 to 2028.
- An in-depth analysis of the influence of consumer trends towards natural and artisanal products.
- Insights into the expansion of vanilla extract applications beyond food, including pharmaceuticals and cosmetics.
The exploration of the vanilla extract market is constructed on an array of data sources, including industry analyses, international government reports, and statements from industry associations. Elucidating the dynamics of the market, the report provides a granular view of the various segments that make up the vanilla extract landscape. Insight into major market players further enriches the report’s scope, presenting a comprehensive view of the competitive environment.
A detailed overview of the market, its segmentation, and potential opportunities are encapsulated within the report, yielding an extensive understanding of the vanilla extract sector's past, current, and projected future states.
A selection of companies mentioned in this report includes
- Adams Extract & Spice LLC
- C.F. Sauer Company
- McCormick & Company Incorporated
- Frontier Co-op
- Beyond Good LLC
- Nielsen-Massey Vanillas Inc.
- The J.R. Watkins Co.
- Eurovanille SAS
- Firmenich SA.
- Symrise Pvt. Ltd.
- Lochhead Manufacturing Company
- OliveNation LLC
- Wilton Brands LLC
- Great Value Inc.
- Prova Inc.
- Naturalight Foods Inc.
- Cook Flavoring Company
- Castella Imports Inc.
- Herbal Creative LLC
- Shanks Extracts Inc.
- Heilala Vanilla Limited
- Steenbergs Organic Ltd.
- LorAnn Oils Inc.
- Tharakan and Company
- Synergy Flavors Inc.
- The Vanilla Company
- Sonoma Syrup Co.
- Blue Cattle Truck Trading Co.
- Silver Cloud Estates LLC
- Rodelle Inc.
For more information about this report visit https://www.researchandmarkets.com/r/f53wh4
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