Global Vanilla Market Expected To Be About $ 735 Million By 2026
NEW YORK, October 18, 2021 / PRNewswire / – Zion Market Research has released a new report titled “Vanilla market by type (Madagascar, Mexican, Indian, Indonesian and Others) and by Application (Food & Beverage, Cosmetics & Pharmaceuticals): Global Industry Outlook, Comprehensive Analysis and Forecast, 2018-2026 “. According to the report, the global vanilla market represented $ 510 million in 2018 and is expected to reach approximately $ 735 million by 2026, at a CAGR of 4.7% between 2019 and 2026.
Vanilla is one of the most widely used flavoring agents in the food industry. Vanilla extract is prepared by a process of maceration and percolation of vanilla pods in a solution of water and ethanol. The extract finds application in various baked goods such as cakes, ice creams, brownies, cupcakes, puddings and yogurts, all over the world. The global vanilla market is expected to experience notable growth in the coming years, owing to the increasing demand for frozen desserts and baked goods.
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This is mainly due to the increase in the disposable income of people and the growing demand for processed foods. Another factor driving the growth of the market is the application of vanilla beans in the medical sector. Studies have shown that consuming vanilla prevents colds, respiratory infections, and vomiting. Vanilla is also beneficial for its low caloric value and its common application in the cosmetics industry. However, escalating vanilla bean prices and low vanilla production due to poor environmental conditions may limit the market.
The global vanilla market is fragmented on the basis of product type and application. Product type includes Madagascar, Mexican, Indian, Indonesian and others. Madagascar Vanilla is the most widely used type of vanilla, as it accounts for around 70% of the total vanilla market share. It owes its popularity to its dark, creamy and rich flavor as well as its buttery and sweet aroma. It finds its application in the main food products such as ice cream, cakes, desserts and drinks. After Madagascar, the type of vanilla from Indonesia ranks second in terms of vanilla production. These beans have a deep and rich vanilla flavor that is suitable for dark chocolates, cakes, caramels, etc.
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By application, the vanilla market includes food and beverage, cosmetics, and pharmaceuticals. The food and beverage segment will likely hold the largest market share in the future, due to the growing demand for vanilla for different recipes. In addition, the growing health concerns around the world and a growing health conscious population are driving the pharmaceutical segment.
North America dominates the global vanilla market. The United States contributes 18% of the world’s total vanilla demand, which is the highest in the world. The Asia Pacific The vanilla market is expected to experience notable growth during the forecast period especially in India and China.
Some key players operating in the global vanilla market are Nielsen-Massey Vanillas, Heilala Vanilla Limited, Archer Daniels Midland, Givaudan, Sensient Flavors, Döhler, Lochhead Manufacturing, International Flavors & Fragrances, McCormick & Company, Symrise, Kerry Group, Firmenich , Organic Épices, EA Weber Flavors and Takasago International.
This report segments the global vanilla market into:
Global Vanilla Market: Type Analysis
Global Vanilla Market: Application Analysis
- Food and drinks
- Beauty products
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- Great Britain
- Rest of Europe
- South Korea
- South East Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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