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Bio Vanillin Market 2019 by Global Opportunities, Regional Trends and Industry Analysis
Bio Vanillin Market
Increasing consumer preference towards natural ingredients in food & beverage and personal care formulations will drive global bio vanillin market demand. Natural ingredients have been steadily gaining acceptance with consumers, especially across evolved markets, along with regulatory support for labeling standards. Bio vanillin has been developed as an alternative to the synthetic ingredient, which accounts for over 95% of present global demand.
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Key Profiles:
• Solvay
• Ennloys
• Evolva
• Apple Flavor & Fragrance Group
The product is at its initial development stage, while industry participants claim a ‘natural’ product, there is some ambiguity regarding this classifications, as a few groups have claimed these products are artificial owing to its production from genetic engineering. Naturally derived vanillin from the pod remains in demand, however, a very high price and limited cultivation is unable to meet global demand.
Biotechnology is also an important route in terms of addressing food waste and natural feedstock issues, permitting low value compound conversions to products of significant commercial interest. However, commercial success of the product will hinge on competitive bio vanillin market price trend.
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Synthetic biology vanillin process is likely to lead the biomass removal required for good agricultural soil. Synthetic organisms may also harm the ecology on their escape either intentionally or unintentionally into the environment from a lab which is likely to be a threat for industry growth of bio vanillin market.
APAC fragrance application may witness significant gains and surpass USD 1 million by 2023. Rising consumer interest in fragrances, personal grooming, changing lifestyle trends, increasing demand for premium fragrances, and development in per-capita are key trending factors to fuel regional demand.
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Global natural vanillin market is forecast to be worth over USD 140 million by 2023. End-use industry manufacturers are ready to pay premium prices for the natural ingredients owing to rising consumer preference for healthy products.
Vanillin downstream derivatives such as vanillyl alcohol, vanillic acid, and methoxyhydroquinone can serve as platform chemicals for 22 polymer compounds which can be used for the synthesis for polyesters, non-isocyanate polyurethanes (NIPU) and epoxy resins.
Global bio vanillin market share is nascent and at development phase. Solvay, Ennloys, Evolva, and Apple Flavor & Fragrance Group are major industry players.
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