Vanilla is a flavoring which is derived from the pods of orchids belonging to the genus ‘Vanilla’ which has antimicrobial, antioxidant and antimutagenic properties. As a result, vanilla provides anti-aging skin benefits, reduces the rate of mutations in cells and protects the body against bacterial and yeast infections. It is one of the most popular and expensive spices in the world and is used in a variety of chocolate, confections, ice creams and cakes as a flavoring agent. Apart from this, it is also employed as an aromatic additive in the production of perfumes, incense, candles and air fresheners. Vanillin is an aromatic compound which is the primary component of the extract of the vanilla bean. Its taste is almost like that of vanilla, but it is relatively cost-effective. As a result, vanillin is a more preferred choice in the food and beverage industry as compared to vanilla.
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Market Trends
Busy schedules and rising disposable incomes have significantly contributed to the rise in the demand for comfort food items such as frozen desserts, cakes and pastries. This, in turn, is increasing the demand for vanilla and vanillin as they form a crucial part in the processing of comfort foods. Since vanilla and vanillin have low-calorie content, they are preferred by health-conscious consumers as well. Moreover, increasing awareness about the health benefits associated with vanilla is influencing consumers to buy vanilla infused cosmetic and personal care products. Furthermore, a rise in the demand for natural vanillin extracts has led to the introduction of bio vanillin. Owing to the aforementioned factors, the market is currently experiencing stable growth.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Vanilla and Vanillin Market 2019-2024 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the major players operating in the industry include:
Solvay (OTCMKTS: SOLVY)
Apple Flavor & Fragrance Group (SHA: 603020)
Evolva Advanced biotech
Jiaxing Zhonghua Chemical Co., Ltd.
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The report has segmented the market on the basis of Application, Raw Material, End-Use and Region.
Market Breakup by End-Use
Powder
Paste
Extract
Others
Market Breakup by Raw Material
Beans
Lignin
Guaiacol
Others
Market Breakup by Application
Pharmaceuticals
Cosmetics
Foods & Beverages
Others
Market Breakup by Region
Asia Pacific
Europe
North America
South and Central America
Middle East and Africa
Key highlights of the report:
Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Competitive Structure
Profiles of Key Players
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