Vanilla and Vanillin Market Report 2020: Industry Overview, Growth, Price Trends, Sales Revenue, Demand and Forecast - IMARC Group

The global vanilla and vanillin market grew at a CAGR of 3% and 9% respectively during 2014-2019. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.

Vanilla is a flavoring obtained from the pod of a climbing orchid that contains high levels of antioxidants. It provides anti-aging skin benefits and assists in protecting the body against bacterial and yeast infections and is one of the most popular flavoring agents. On the other hand, vanillin is an aromatic compound of the vanilla extract utilized in the food and beverage (F&B) industry.

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Market Trends:

A rise in the demand for alcoholic beverages and confectionery and baked items, such as ice cream and cakes, represents one of the key factors impelling the global vanilla and vanillin market growth. Moreover, the growing adoption of vanilla and vanillin in the manufacturing of cosmetics and personal care products is driving the market further. Apart from this, the utilization of vanillin in the production of several agrochemicals and medicines, along with the increasing investments in the research and development (R&D) projects to develop cost-effective bio vanillin, is also bolstering the market growth. At present, on account of the surging cases of the coronavirus disease (COVID-19), the global supply chains have been disrupted, which is negatively impacting the market. However, the market is expected to witness growth once normalcy is regained.

Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

View Report TOC, Figures and Tables: https://www.imarcgroup.com/vanilla-vanillin-market

Vanilla and Vanillin Market Segmentation:

Market Breakup by Bean Color

Red Beans
Black Beans

Market Breakup by Bean Type

Madagascar Bourbon
Mexican Vanilla
Indonesian Vanilla
Tahitian Vanilla

Market Breakup by Application

Food and Beverages
Cosmetics
Pharmaceutical
Others

Market Breakup by Region

Madagascar
Indonesia
Mexico
Papua New Guinea
Others

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Some of the major players operating in the industry worldwide include Solvay (OTCMKTS: SOLVY), Apple Flavor & Fragrance Group (SHA: 603020), Evolva (OTCMKTS: ELVAF), Advanced biotech, and Jiaxing Zhonghua Chemical Co., Ltd.

Browse related reports:

Top Trends Shaping the Global Ice Cream Market: https://www.imarcgroup.com/ice-cream-trends

Global Flavoured Milk Market Report: https://www.supermarketresearch.com/2020/07/07/flavoured-milk-market-share-growth-trends-and-forecast-2020-2025/

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This release was published on openPR.