Dublin, April 21, 2023 (GLOBE NEWSWIRE) -- The "Natural Vanillin Market - Global Industry Analysis (2019 - 2021), Growth Trends, and Market Forecast (2022 - 2029)" report has been added to ResearchAndMarkets.com's offering.
The global natural vanillin market was valued at nearly US$336 Mn in 2021, exhibits the potential to reach US$845 Mn by 2029, registering a CAGR of 9.5%
As more individuals become health-conscious and environmentally aware, the demand for natural and organic products is expected to grow. This in turn is expected to create strong growth waves across the natural vanillin market. In addition to this, the growing trend of plant-based diets is also fuelling the demand for organic products such as natural vanillin.
The global natural vanillin market landscape is highly competitive and diverse with a large number of manufacturers around the world. Several market players are forging tactical alliances with small and big organizations in an effort to hold on to a competitive edge. The healthy competitiveness is expected to drive the natural vanillin market to sound maturity.
Natural Vanillin Market Expands Substantially Owing to a Broad Range of Applications
Natural vanillin is an incredible ingredient that found its applications across a diverse range of industries including food and beverage, personal care, animal and poultry feed, and pharmaceuticals.
In the food and beverage sector, manufacturers use vanillin in beverages to reduce the overall sugar and artificial sweetener content. The taste and sweetness-adding properties of vanillin continue to contribute to its burgeoning demand as a flavour in both alcoholic and non-alcoholic beverages. Revelations, such as adding vanilla to milk-based beverages to reduce the quantity of sugar consumed by 20-50%, are increasing adoption rates of the product.
Furthermore, due to its sweet and sugary aroma, vanillin is being employed across industries including perfume manufacturing and metal plating. Additionally, it has numerous other applications including an attractant in pesticides, an anti-foaming agent in lubricants, and a solubilizer for riboflavin.
Natural Vanillin Market Finds its Next Leg of Growth in North America
North America currently holds a lion's share of 35% in the global natural vanillin market.
Throughout the projected period, the region is expected to maintain its lead due to various key factors. The expanding processing food industry is contributing significantly to the regional market as natural vanillin is a well-known flavouring agent. The adoption rate of natural vanillin has also considerably risen after the US Food and Drug Administration (FDA)'s approval of its usage in food and beverage products.
Moreover, consumers in the region are increasingly becoming health-conscious and prefer to consume natural and organic products. Key industry participants in the region are locally producing the ingredient, ensuring a stable supply of natural vanillin. The cumulative force of these factors is providing a major impetus to the global natural vanillin market.
Key Insights and Trends Across Global Natural Vanillin Market
- Natural vanillin is expected to witness surging demand due to its array of applications across end-use industries
- The food and beverages sector emerges as the highest consumer sector for natural vanillin
- North America, the dominant natural vanillin market, and Europe account for a collective revenue share of 55%
- The flourishing ready-to-eat category is likely to gain significant traction in North America's natural vanillin market
Leading Market Players
Some of the leading market players in the global natural vanillin market include
- Aurochemicals
- Firmenich SA
- Givaudan
- Kerry Group
- Symrise
- MANE
- Sensient Tech Corp
- SOLVAY
- PROVA
- Advanced BioTech
Global Natural Vanillin Market Outlook, 2019 - 2029
Global Natural Vanillin Market Outlook, by Application, Value (US$ '000), 2019 - 2029
- Food & Beverages
- Bakery & Confectionary
- Beverages
- Dairy
- Others
- Pharmaceuticals
- Cosmetics & Personal Care
Global Natural Vanillin Market Outlook, by Sources, Value (US$ '000), 2019 - 2029
- Vanilla Bean Extract
- Eugenol Synthesis
- Ferulic Acid Synthesis
Global Natural Vanillin Market Outlook, by Region, Value (US$ '000), 2019 - 2029
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/qxi5fh
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