Bio Vanillin Market size worth over $19 million by 2023

Bio Vanillin Market size is expected to surpass USD 19 million by 2023; according to a new research report by Global Market Insights, Inc.

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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Food & beverages dominated the application landscape, worth over USD 8 million in 2015. Appeal of new flavors in the industry and strong demand for confectionery and bakery products along with persistent development are key stimulating factors.

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.

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.

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Key insights from the report include:

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.

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.

North America led the regional industry demand and was valued at over USD 3 million in 2015. Brewery industry expansion accompanied by positioning as a premium product ingredient in food & beverages and fragrances are key driving factors.

France bio vanillin market size is projected to grow at over 12.9% CAGR up to 2023.

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.

Global Market Insights has segmented the bio vanillin industry on the basis of application and region:
Bio vanillin Application Analysis (Volume, Tons, Revenue, USD Million, 2012 – 2023)
Food & Beverages
Chocolate
Ice-cream
Confectioneries & baked goods
Others
Fragrances
Pharmaceuticals

Bio vanillin Regional Analysis (Volume, Tons, Revenue, USD Million, 2012 – 2023)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Asia Pacific
China

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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This release was published on openPR.