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The vanillin market is estimated to grow by USD 427.69 million at a CAGR of 11.08% between 2022 and 2027. The growth of the market depends on several factors, including increasing disposable incomes, burgeoning demand from the confectionery industry, and the growing popularity of ethyl vanillin.
This market trends and analysis report extensively covers market segmentation by end-user (food and beverages, fragrances, and pharmaceuticals), type (natural vanillin and synthetic vanillin), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the market growth analysis report includes historic market data from 2017 to 2021.
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The growing popularity of ethyl vanillin is notably driving the market growth, although factors such as the discoloration properties of vanillin may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing popularity of ethyl vanillin is notably driving market growth. One of the most famous flavors in the world is vanilla. Owing to low production of natural vanilla artificially produced vanillin caters to most of the market. Ethyl vanillin is an organic compound commonly produced from catechol. The strong potency of ethyl vanillin makes it very favorable as a flavoring and fragrance agent. Although the production is an expensive process, it is gaining prominence due to its strong sweet note being more powerful than that of methyl vanillin.
The key advantages of this product are cost-effectiveness and excellent solubility properties. It is widely consumed in various foods and beverages, such as cheeses, butter, almond essence, and various flavors related to roasting, such as chocolate, smoke, caramel, and coffee. Therefore, the increasing popularity is one of the key drivers of the market. Therefore, these factors will fuel the global market growth during the forecast period.
The emerging use of vanillin as a remedy for psoriasis is an emerging trend in the market. Traditionally, vanillin has been used in a wide variety of applications. One of the recent uses of vanillin is in the prevention/cure for psoriatic skin inflammation. Psoriasis is a skin disorder that results in red rashes all over the elbows, knees, and other places. Clinical researchers have shown that vanillin worked positively against psoriatic skin inflammations.
Several studies have been conducted to find the effect of vanillin on psoriasis. For instance, according to a group of researchers from China Medical University Hospital in Taichung, the effect of vanillin on imiquimod-induced psoriatic skin inflammation in mice showed that it significantly improved imiquimod-induced histopathological changes in the skin in mice. Hence, this will impact the market growth and trends positivelduring the forecast period.
Discoloration properties of vanillin are a major challenge impeding market growth. One of the major obstacles that manufacturers, especially soap makers face is the discoloration of products due to vanillin use. Further, manufacturers are focusing more on the production of fragrance oil that is vanillin-free. For soap makers, the use of fragrances that are vanillin-free reduces the chances of soap discoloration drastically.
Some of the products that suffer discoloration are shampoos, conditioners, and lotions. Products that are more alkaline in nature, such as bath bombs, cold-processed soaps, and pour-and-melt soaps, are less likely to witness discoloration. Further, vanillin is also known to display an adverse effect on surfactant products such as body washes, shampoos, and bubble bath items. The addition of vanillin in these products is known to reduce clarity and viscosity substantially. Therefore, these factors will hinder the growth rate of the market during the forecast period.
The market research and growth report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Advanced Biotech - The key offerings of the company include vanillin which has the odor characteristics of vanilla.
The market research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the food and beverages segment will be significant during the forecast period. Vanillin is used in food and beverages as a flavoring agent. It is commonly used in sweets, desserts, cakes, chocolates, instant noodles, and biscuits.
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The food and beverages segment was valued at USD 257.56 million in 2017 and continued to grow until 2021. Owing to its strong milky flavor vanillin is used as an edible spice. It is often added to food products during the dry stage when sugar and flour are mixed. It is incorporated into fatty ingredients to obtain better results during topping and creaming. In addition, it is used in manufacturing chocolates in powdered form. Moreover, due to the rise in its usage vendors operating in the market are also offering new vanillin products for food and beverage applications. The introduction of such new products in the market is anticipated to drive the growth of the food and beverage segment. Therefore, these factors will boost the growth of the segment during the forecast period.
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APAC is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
APAC is one of the major consumers in 2022 and will remain the same during the forecast period. Vanillin is used in the food industry during the production of sugared almonds, nougat, sweets, and caramel. The growth of the food flavors market in APAC is primarily attributed to the growing demand for processed foods in the region, particularly in countries such as India, China, Vietnam, and Japan. Furthermore, the increasing number of working professionals and the growing number of nuclear families has also raised the demand for processed foods in the region. Such factors cumulatively contributed to the growth of the processed foods industry in APAC and increased the adoption of artificial flavors.
The market forecasting report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Vanillin Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.08% |
Market growth 2023-2027 |
USD 427.69 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.68 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 43% |
Key countries |
US, Canada, China, Germany, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Advanced Biotech, Apple Flavor and Fragrance Group Co. Ltd., Aurochemicals, Axxence Aromatic GmbH, BASF SE, Borregaard ASA, BRENNTAG SE, Camlin Fine Sciences Ltd., Comax MFG Corp., De Monchy Aromatics Ltd., Evolva Holding AG, Jiaxing Zhonghua Chemical Co. Ltd., Lesaffre and Cie, Liaoning Shixing Pharmaceutical and Chemical Co. Ltd., Merck KGaA, Omega Ingredients Ltd., Solvay SA, Viachem Inc., Vigon International Inc., and TANOBIO |
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, and Market condition analysis for the 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. |
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