4th October 2019 – The global Vanillin
Market size is expected to value at USD 724.5 million by 2025. The
market is subject to witness a substantial growth due to the rise in demand
from food & beverage industry. Additionally, growing demand from various
end-user industries such as food & beverage, cosmetics, and pharmaceuticals
are expected to drive the growth of vanillin in upcoming years. Globally, the
vanillin market is predicted to grow at CAGR of 7.0% in forecast period,
providing numerous opportunities for market players to invest in research and
development in the market.
Vanillin is commonly used as flavoring
ingredient to enrich taste of cuisine or packaged food products. Application of
the vanillin include bakery products, confectioneries, ice-cream, chocolates,
and non-alcoholic beverages. Thus, increase in demand form packaged food
industry due to its wide range application is predicted to fuel the growth of
vanillin industry over the forecast period. Growing popularity of the market
from pharmaceutical sector is attributed to ability of vanillin to mask
undesirable taste of livestock fodder or medicines. Vanillin is also used as an
intermediate for the manufacturing of agro-chemicals and drugs. Increase in
demand from personal care industry and cosmetics industry from various parts of
the globe is estimated to augment the growth of the market in upcoming years.
Vanillin adds distinctive flavor and
taste to the food products, leading to increasing demand from number of
packaged food manufactures. Vanillin contains low calorie ingredients and
essential antioxidants. Such advantages makes it suitable for its use in
various bakery products and alcoholic & non-alcoholic beverages. Changing
food patterns and increasing health awareness among young population is largely
influencing market demand for vanillin, in the recent years.
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Additionally, shifting focus towards
organic food products and healthy life style is expected to fuel the growth of
vanillin market in coming years. However, growing concerns regarding the
workers safety and hazardous operational conditions during manufacturing
activities are expected to hamper market growth, in near future. In addition,
increase in the number of laws and regulation regarding excessive of vanillin
and use of synthetic ingredients by various governmental bodies such as REACH,
Code of Federal Regulations, and NIOSH are responsible for restraining market
growth to certain extent.
Furthermore, labeling and packaging of
vanillin are harmful to health of an individual working in close proximity with
the product causing eye irritation, skin infections, acute toxicity, aquatic chronic
disorders and acute aquatic toxicity, thus negatively affecting market growth.
Yet, increasing demand from Asia Pacific and European owing to the presence of
large-scale food & beverage industry and businesses are anticipated to fuel
market growth during the forecast period.
Synthetic vanillin is one the fastest
growing segment in vanillin industry with highest revenue generation in the
last couple of years. Growing popularity of synthetic vanillin is attributed to
the lower cost associated with synthetic vanillin in comparison with bio-based
vanillin and increasing demand from Asia-Pacific region. Synthetic vanillin is
derived from various types of petrochemicals, while bio-based vanillin is
produced from real vanilla extract. However, rise in concerns for excessive use
of synthetic vanillin in food products and its adverse effects on health
condition are predicted to limit the market growth in the years to come.
The vanillin market is divided by region
such as North America, Europe, Asia-Pacific, Latin America and Africa. European
region has shown major growth in recent years owing to the growing health
awareness, growing demand of packaged food, and existence of prominent industry
players in the region. Asia-Pacific region is predicted to hold major market
share in the vanillin industry with massive growth in forecast period.
Countries such as India, China and Japan are leading the Asia-Pacific market
with growing demand from the various end-user industries, changing food
patterns, dietary preferences, rise in per capita income, and significant
investment by leading industry players considering potential growth
opportunities in the region.
The key players in the vanillin industry
are Apple Flavor & Fragrance Group Co., Camlin Fine Sciences Limited, De
Monchy Aromatics Limited, International Flavors & Fragrances, Inc., Ennloys
Enterprises, Evolva Holding S.A., Advanced Biotech Pvt. Ltd., Omega Ingredients
Limited., and Comax Flavors.
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