Global Vanilla Market - Industry Trends and Forecast to 2029
Global Vanilla Market - Industry Trends and Forecast to 2029• Rising demand from the various end-user industries
Increasing consumer demand for vanilla products due to their pleasant flavour, rising demand for various vanilla essence products, rising preferences for organic products, increased use of vanilla extracts in various applications such as pharmaceuticals and food and beverage, and utilization of vanilla beans in medical applications are some of the determinants favoring the growth of the vanilla market during the forecast period.
• Rising health awareness among the general population
Due to its ability to enrich essence and appreciation in various food commodities, the emerging liquor and food manufacturing industry will play an important role. Furthermore, it combines low calorie value and the presence of a variety of anti-oxidants which will rise the demand for the health-conscious population
Opportunity
The growth of profitable opportunities is aided by the introduction of new food and beverage-related businesses, an increase in demand for organic malt components and extracts, and the growing popularity of natural flavours.
Restraints
Nonetheless, imposed ordinances to bypass worker safety concerns and the use of unnatural products above a certain limit will restrain market growth. Furthermore, fluctuations in raw material prices, insufficient supplies and less farming practices will further impede market growth.
This vanilla market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the vanilla market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Vanilla Market
The continued trend for products made with natural substances, such as the COVID-19, has witnessed a tremendous rise in the global market. This has created a significant growth opportunity for the natural vanilla segment globally, primarily for use in functional foods and beverages. Furthermore, Vanilla production is labor-intensive, particularly during harvest and post-harvest periods. As a result, they rely on seasonal workers, many of whom are migrants. COVID-19 affected these employees. They may face serious health risks, for example, if their temporary living conditions do not meet strict sanitary standards and there is social distancing. ?
Recent Development
• At the 2019 Summer Fancy Food Show in June, Nielsen-Massey Vanillas debuted two new single-origin pure vanilla extracts from Uganda and Indonesia. Customers in the food service industries and retail can use it.
• Symrise announced a three-year partnership with Kellogg Company in August 2019 to ethically source 100 percent of Kellogg's vanilla by 2020. They are doing so by interacting with vanilla farmers.
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