Vanillin Market 2015-2025 size and forecast
There are two types of vanillin, namely ethyl and methyl. Methyl vanillin has mild flavor of vanilla planifolia. Methyl vanillin is majorly used in vanilla flavored foods. Ethyl vanillin has stronger vanilla flavor than methyl. It’s an important flavoring agent in the food industry for the food items such as ice-creams, chocolates and beverages. Apart from these application, it’s also used as a flavoring agent in toothpaste and various other pharmaceutical applications.
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Vanillin Market: Drivers and Challenges
Growth in end-use industries such as food & beverages and pharmaceutical is projected to fuel the growth in vanillin market during the forecast period. The demand from emerging economies such as India, China, Thailand, Malaysia, Japan, and Indonesia for vanillin is fueling the growth of the global vanillin market. The major demand from these economies is from confectionary and bakery industry.
Government and environmental regulations are posing as a challenge to the chemical synthesis vanillin market.
Vanillin Market: Overview
The global vanillin market is expected to expand at healthy CAGR of around 7-10% during the forecast period (2016-2025), due to growth in end-use industries such as food & beverages and pharmaceuticals.
Vanillin Market: Segmentation
The global vanillin market can be segmented on the basis of type of production, type of forms, end-use industry and by regions.
Based on type of production, the global market is segmented as:
Based on type of forms, the global market is segmented as:
Based on end-use industry, the global market is segmented as:
Food and Beverages
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Vanillin Market: Region-wise Outlook
The global vanillin market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, global vanillin market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2015, emerging region Asia Pacific dominated the global vanillin market in terms of market revenue. Asia Pacific & Japan are projected to expand at a substantial growth and will contribute to the global vanillin market value exhibiting a robust CAGR during the forecast period, 2015?2025.
Vanillin Market: Key Players
Some of the key market players in global vanillin market are Evolva Holding SA, Solvay SA, Jiaxing Zhonghua Chemical Industry Co., Ltd., and Prinova Group LLC
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