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.
Browse full research report on Vanillin Market: http://www.grandviewresearch.com/industry-analysis/vanillin-market
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
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/nutraceuticals-functional-foods-and-dietary-supplements
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
Vanillin Regional Outlook (Volume, Tons; Revenue, USD
Million, 2014 - 2025)
- North
America
- U.S.
- Europe
- Germany
- UK
- France
- Asia
Pacific
- China
- India
- Japan
- Central
& South America
- Brazil
- Middle
East & Africa
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-vanillin-market
About Grand View Research
Grand View Research, Inc. is a
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. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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