Vanilla Market by Type (Madagascar, Mexican, Indian, Indonesian, and Others) and By Application (Food and Beverages, Cosmetics, and Pharmaceutical): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026

Global vanilla market expected to reach around USD 735 million by 2026, at a CAGR of 4.7% between 2019 and 2026. The global vanilla market is expected to grow notably in the years ahead, owing to the growing demand for frozen desserts and bakery products.

10-Jul-2019 | Number of pages: 110 | Report Code: ZMR-4367 | Report Format : | Status : Published

Analysis

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 its application in various bakery products like cakes, ice-creams, brownies, cupcakes, puddings, and yogurt, worldwide. Apart from food, vanilla is also known for its use due to its antibacterial and antioxidant properties.

The global vanilla market is expected to grow notably in the years ahead, owing to the growing demand for frozen desserts and bakery products. This is majorly due to the increasing disposable income of people and rising demand for processed foods. Another factor stimulating the market growth is the vanilla beans application in the medical sector. Studies have shown that vanilla consumption prevents common cold, respiratory infections, and vomiting. Vanilla is also beneficial for its low caloric value and its common application in the cosmetic industry. However, escalating prices of vanilla bean and low vanilla production due to poor environmental conditions may limit the market. Poor farming and harvesting techniques harm the vanilla beans quality and act as a major challenge for market expansion. Technological advancements, such as innovation in powder stability and active supply management, are expected to provide new growth opportunities to the key market players in the upcoming years.

The global vanilla market is fragmented based on product type and application. The product type includes Madagascar, Mexican, Indian, Indonesian, and others. Madagascar vanilla is the most widely used vanilla type, as it accounts for around 70% of the total vanilla market share. It owes this popularity to its dark, creamy, and rich flavor along with a buttery and sweet aroma. It finds its application in major food products like ice creams, cakes, desserts, and drinks. After Madagascar, the Indonesian vanilla type holds the second position in terms of vanilla production. These beans have a deep and rich vanilla flavor that is appropriate for dark chocolates, cakes, caramels, etc. By application, the vanilla market includes food and beverages, cosmetics, and pharmaceuticals. The food and beverages segment is likely to hold the largest market share in the future, due to the increasing vanilla demand for different recipes.

North America dominates the vanilla market globally. The U.S. contributes 18% of the total vanilla demand globally, which is the highest in the world. The Asia Pacific vanilla market is estimated to witness notable growth over the forecast time period, particularly 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 Spices, E.A. Weber Flavors, and Takasago International.


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