Enjoy complimentary customisation on priority with our Enterprise License!
The bio vanillin market share is expected to increase by USD 71.34 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 7.87%.
This bio vanillin market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers bio vanillin market segmentation by end-user (food and beverages, fragrances, and pharmaceuticals) and geography (Europe, North America, APAC, South America, and MEA). The bio vanillin market report also offers information on several market vendors, including Advanced Biotech, Aurochemicals, BASF SE, Borregaard ASA, Camlin Fine Sciences Ltd., Conagen Inc., Evolva Holding SA, Lesaffre and Cie, and Solvay SA among others.
Download Report Sample to Unlock the Bio Vanillin Market Size for the Forecast Period and Other Important Statistics
Consumer awareness regarding the adverse effects of artificial food ingredients is notably driving the bio vanillin market growth, although factors such as the high cost of bio vanillin compared to synthetic vanillin may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bio vanillin industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Bio Vanillin Market Driver
Consumer awareness regarding the adverse effects of artificial food ingredients is one of the major drivers of the bio vanillin market growth. The global bio vanillin market is heavily influenced by the increase in the awareness of consumers regarding the benefits of healthy and hygienic food. Consumers have become more aware of the hazardous, long-term side effects of synthetic and artificial food ingredients such as toxicity, allergies, and even cancer. Consumers specifically prefer food and beverage products with natural food additives such as bio vanillin. They are seeking products that have a clean, green label on their pack, as they consider them safer and healthier. Consumers are becoming more conscious about their health and the food they consume. They read the food packaging label to understand the ingredients of a particular food product, particularly the additives. Food manufacturing companies are also providing complete information about the raw materials used in the preparation of the product and a clean label to attract customers. The rising disposable income of consumers has increased the purchasing power of consumers with respect to natural products. These factors will drive the growth of the bio vanillin market over the forecast period.
Key Bio Vanillin Market Trend
The surge in the demand from the confectionery industry is one of the major trends of the bio vanillin market growth. The demand for bio vanillin is increasing with the rising consumption of confectionery products, owing to the changing lifestyle of consumers. Vanilla is one of the most common and extensively used flavors in a wide variety of bakery and confectionery products such as dry chocolates, chocolate drinks, cookies, pastries, cakes, ice creams, biscuits, madeleines, waffles, wafers, fillings, toppings, and custards. Bio vanillin is widely accepted among consumers due to its unique sensory qualities and offers consumers new taste sensations. It helps in the reduction of sugar and fat in confectionery products without compromising on the taste. Some of the key features of bio vanillin, which drive its popularity, include a strong flavor profile, enhancement of sweet notes, masking off-notes, higher solubility, and flowability. Furthermore, the growth of the confectionery industry is likely to support the growth of the bio vanillin market over the forecast period.
Key Bio Vanillin Market Challenge
The high cost of bio vanillin compared to synthetic vanillin is one of the major trends of the bio vanillin market growth. Vanilla is in huge demand worldwide due to its wide acceptance among consumers. The scarcity of bio vanillin provides opportunities for the growth of the synthetic vanillin market. Due to such circumstances, synthetic vanillin covers 95%-97% of the global vanillin market. Further, the difficulties associated with the extraction of bio vanillin coupled with its high cost have emerged as key challenges that have been hampering the market growth. The advanced technologies pertaining to the processing of bio vanillin have witnessed slow adoption rates in the global bio vanillin market as only a few vendors have the technological leverage and sophisticated techniques, which can maintain the high quality of bio vanillin. The high cost involved in the innovation of technology results in the increase in the cost of end-products based on bio vanillin. Consequently, primary consumers in developing regions often refrain from the use of bio-based vanillin products, which would hamper the growth of the market.
This bio vanillin market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global bio vanillin market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bio vanillin market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the bio vanillin market encompasses successful business strategies deployed by the key vendors. The bio vanillin market is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The bio vanillin market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the bio vanillin market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the specialty chemicals market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
For more insights on the market share of various regions Request PDF Sample now!
44% of the market’s growth will originate from Europe during the forecast period. UK, Germany, and France are the key markets for the bio vanillin market in Europe.
The increase in the demand for packaged food will facilitate the bio vanillin market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 has adversely affected market growth in the region. As of June 6, 2021, the UK registered over 4.5 million confirmed cases of COVID-19, followed by Italy, Germany, and France. The growing number of COVID-19 cases has led to the shutdown of several industries and businesses, including the flavor and fragrance industry, in the region. In Q2 of 2020, the beauty industry in the UK, which includes fragrance and other beauty products, witnessed a decline of 12%-15%, owing to the closure of several retail outlets. This has significantly affected the growth of the market in focus in the region. The outbreak of COVID-19 is expected to lead to short-term challenges for the growth of the market during the forecast period, while the long-term impact will likely be limited.
To gain further insights on the market contribution of various segments Request PDF Sample
The bio vanillin market share growth in the food and beverages segment will be significant during the forecast period. Bio vanillin is used as an alternative to synthetic vanillin and natural vanilla extract. In the food and beverage industry, it is used as a sweetener and flavoring agent in chocolates, cookies, ice creams, cakes, and flavored beverages. The increasing demand for these food products globally and rising inclination for cost-effective and organic alternatives of synthetic flavoring agents among bakery and confectionery shop owners are expected to propel the growth of the bio vanillin market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the bio vanillin market size and actionable market insights on post COVID-19 impact on each segment.
Bio Vanillin Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.87% |
Market growth 2021-2025 |
$ 71.34 million |
Market structure |
Concentrated |
YoY growth (%) |
4.92 |
Regional analysis |
Europe, North America, APAC, South America, and MEA |
Performing market contribution |
Europe at 44% |
Key consumer countries |
US, UK, Germany, China, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Advanced Biotech, Aurochemicals, BASF SE, Borregaard ASA, Camlin Fine Sciences Ltd., Conagen Inc., Evolva Holding SA, Lesaffre and Cie, and Solvay SA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.