London, March 16, 2023 (GLOBE NEWSWIRE) -- In addition to the thriving trend waves of natural and organic, greater consumer inclination toward plant-based ingredients predominantly drives the growth of natural vanillin market. An approximately US$336 Mn market (as of 2021) is all set to jump to revenue worth US$845 Mn by the end of 2029. “The competitive landscape is highly diverse, and innovation will remain the winning imperative for key players. While manufacturers are more likely to eye the premium product categories, brands are also investing efforts in bringing cost-efficient innovations to the table,” says the analyst at Fairfield Market Research. The company in its latest published study reports that the worldwide market for natural vanillin will experience strong growth in revenue between the years of forecast, 2022 and 2029. The application range continues to broaden, covering food and beverages, animal and poultry feed, personal care, pharmaceutical, fragrance, pesticides, and lubricant industries. Moreover, an evolving consumer lifestyle, and growing prominence of premium product ranges are expected to fuel market expansion to a large extent.
Key Research Insights
- Global natural vanillin sales are likely to account for nearly 9.5% revenue growth for the market
- Food and beverages industry remains the largest segment registering natural vanillin consumption
- North America continues to be the top consumer region and is poised to display around 8.6% revenue growth by 2029
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Insights into Segmentation Analysis
In terms of consumption of natural vanillin and derived products, the report affirms clear dominance of food and beverages industry that currently holds a lion’s share of more than 59% in the market. “Beverages especially point to an attractive, continuous stream of business opportunities,” marks the analyst. The study further highlights growing demand generation from the cosmetics and personal care segment with the current revenue share of around 25%. On the other hand, source-wise analysis of the natural vanillin market shows sustained preference for vanilla bean extract that recorded over 56% market value share in 2021.
Key Report Highlights
- Ready-to-eat category emerges one of the key factors driving North America’s phenomenal growth potential
- Rising consumer desire for natural fragrances in premium products will create ample opportunities
- Givaudan, Firmenich SA, Symrise, Kerry Group, and Sensient Tech Corp. mark a few of the top performers across natural vanillin industry
Insights into Regional Analysis
Currently representing over 35% share in the global natural vanillin market revenue, North America will most likely spearhead through the end of forecast period. The market here will be closely trailed by Europe’s natural vanillin industry and both the regions are slated to account for a collective value share of nearly 55%, indicates the report. While the ready-to-eat sector provides a strong impetus to the North American market, the study highlights pivotal role of the processed food sector in accelerating the market progression across Europe. Led by Italy, the UK, and Germany, the latter is also projected to benefit from the other end-use segments, including pharmaceuticals, cosmetics, and food processing.
Leading Market Players
SOLVAY, Kerry Group, Firmenich SA, Aurochemicals, Givaudan, Symrise, MANE, Sensient Tech Corp, Advanced BioTech, and PROVA constitute some of the top participants in worldwide natural vanillin market space.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2021 | |
| Forecast Year | 2022 – 2029 | |
| Market Size in 2021 | US$336 Mn | |
| Estimated Market Size in 2029 | US$845 Mn | |
| CAGR | 9.5 % | |
| Key Players | SOLVAY, Kerry Group, Firmenich SA, Aurochemicals, Givaudan, Symrise, MANE, Sensient Tech Corp, Advanced BioTech, PROVA | |
The Global Natural Vanillin Market is Segmented as Below:
By Application Coverage
- Food & Beverages
- Bakery & Confectionary
- Beverages
- Dairy
- Others
- Pharmaceuticals
- Cosmetics & Personal Care
By Sources Coverage
- Vanilla Bean Extract
- Eugenol Synthesis
- Ferulic Acid Synthesis
- Others
By Geographical Coverage
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Leading Companies
- Givaudan
- Firmenich SA
- Symrise
- Kerry Group
- Sensient Tech Corp
- MANE
- PROVA
- SOLVAY
- Aurochemicals
- Advanced BioTech
Inside This Report You Will Find:
1. Executive Summary
2. Market Overview
3. Global Natural Vanillin Market Outlook, 2019 - 2029
4. North America Natural Vanillin Market Outlook, 2019 - 2029
5. Europe Natural Vanillin Market Outlook, 2019 - 2029
6. Asia Pacific Natural Vanillin Market Outlook, 2019 - 2029
7. Latin America Natural Vanillin Market Outlook, 2019 - 2029
8. Middle East & Africa Natural Vanillin Market Outlook, 2019 - 2029
9. Competitive Landscape
10. Appendix
Learn More About the Report Inclusions, and Research Methodology: https://www.fairfieldmarketresearch.com/report/natural-vanillin-market/more-information
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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