Vanillin Industry Analysis Report 2025: Key Opportunities
The
global Vanillin Market is expected to reach USD 724.5
million by 2025, according to a new report by Grand View Research, Inc.
Increasing consumption of food & beverage products has been a key factor
driving market growth, globally. In addition, robust growth in various end-use
industries such as food & beverage, fragrance, cosmetics, and
pharmaceuticals is also fueling the demand.
Vanillin
is an essential aromatic compound extensively used to enhance the aroma and
flavor of the different end-use products. Vanilla beans constitute pleasant
smell, that occurs naturally in vanilla beans. It is widely used as flavoring
agent in food products and aromatic additives for incense, perfumes, medicines,
candles, and air fresheners. Due to an ability to enhance flavor in food
products coupled with low-calorie content and high availability of antioxidants
in vanillin, its demand from food & beverage segment is anticipated to increase
over the forecast period.
Food
& beverage accounted as the largest end-use segment in 2016 and is
anticipated to grow significantly over the upcoming years. Growing demand for
variety food products is encouraging manufacturers to produce vanillin products
from a sustainable source.
Fragrance
segment is expected to witness the fastest growth in terms of volume over the
forecast period with an estimated CAGR of 6.0% from 2017 to 2025. Increasing
consumer spending on beauty and personal care products along with growing usage
of aromatic products in various fragrance application products are anticipated
to fuel the growth of the market over the forecast period. In addition,
increasing usage of fragrance products in the emerging economies such as India,
China, the U.S., and Brazil is expected to increase the demand further.
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Further key findings from the report suggest:
·
The global
vanillin demand was 18,653.9 tons in 2016 and is expected to grow at a CAGR of
6.2% from 2017 to 2025. Food & beverage emerged as the largest end-use
segment in 2016 and is estimated to generate revenue worth USD 448.5 million by
2025.
·
Global demand in
fragrance was USD 106.6 million in 2016 and is anticipated to witness staggered
growth over the next eight years. The U.S. market in pharmaceutical segment was
446.7 tons in 2016 and is estimated to reach a total volume of over 617.7 tons
by 2025
·
The industry in
Asia Pacific is projected to witness substantial growth over the next eight
years owing to robust growth in various end-use industries, especially in the
food & beverage market. In terms of revenue, the APAC market is expected to
grow at a CAGR of 7.6% from 2017 to 2025
·
Key players
including Evolva S.A., Solvay S.A., International Flavors Fragrances, Inc., De
Monchy Aromatics and Comax Flavors dominated the global market while accounting
for over half of the total volume in 2015
Grand
View Research has segmented the global vanillin market on the basis of end-use,
and region:
Vanillin
End-use Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
·
Food &
Beverage
·
Fragrance
·
Pharmaceutical
About Grand
View Research:
Grand View Research is an India & U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. Grand View
Research database is used by the world's renowned academic institutions and
Fortune 500 compnies to understand the global and regional business
environment. Our database features thousands of statistics and in-depth
analysis on 46 industries in 25 major countries worldwide.
Contact:
Grand View Research, Inc.
201 Spear Street 1100,
San Francisco, CA 94105
United States
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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