The global Vanillin Market size is expected to reach USD 724.5 million by 2025, according to
a new report by Grand View Research, Inc. Increasing consumption of food &
beverage products has been a key factor driving market growth, globally. In
addition, robust growth in various end-use industries such as food &
beverage, fragrance, cosmetics, and pharmaceuticals is also fueling the demand.
Vanillin is an essential aromatic compound
extensively used to enhance the aroma and flavor of the different end-use
products. Vanilla beans constitute pleasant smell, that occurs naturally in
vanilla beans. It is widely used as a flavoring agent in food products and
aromatic additives for incense, perfumes, medicines, candles, and air
fresheners. Due to the ability to enhance flavor in food products coupled with
low-calorie content and high availability of antioxidants in vanillin, its
demand from the food & beverage segment is anticipated to increase over the
forecast period.
Food & beverage accounted as the largest
end-use segment in 2016 and is anticipated to grow significantly over the
upcoming years. Growing demand for various food products is encouraging
manufacturers to produce vanillin products from a sustainable source.
The fragrance segment is expected to witness the
fastest growth in terms of volume over the forecast period with an estimated
CAGR of 6.0% from 2017 to 2025. Increasing consumer spending on beauty and
personal care products along with growing usage of aromatic products in various
fragrance application products are anticipated to fuel the growth of the vanillin market
over the forecast period. In addition, increasing usage of fragrance products
in emerging economies such as India, China, the U.S., and Brazil is expected to
increase the demand further.
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report, click the link below:
http://www.grandviewresearch.com/industry-analysis/vanillin-market
http://www.grandviewresearch.com/industry-analysis/vanillin-market
Further key findings from the
report suggest:
- The global vanillin demand was 18,653.9 tons in 2016 and is
expected to grow at a CAGR of 6.2% from 2017 to 2025. Food & beverage
emerged as the largest end-use segment in 2016 and is estimated to
generate revenue worth USD 448.5 million by 2025.
- Global demand in fragrance was USD 106.6 million in 2016 and is
anticipated to witness staggered growth over the next eight years. The
U.S. market in the pharmaceutical segment was 446.7 tons in 2016 and is
estimated to reach a total volume of over 617.7 tons by 2025
- The industry in the Asia Pacific is projected to witness
substantial growth over the next eight years owing to robust growth in
various end-use industries, especially in the food & beverage market.
In terms of revenue, the APAC market is expected to grow at a CAGR of 7.6%
from 2017 to 2025
- Key players including Evolva S.A., Solvay S.A., International
Flavors Fragrances, Inc., De Monchy Aromatics and Comax Flavors dominated
the global market while accounting for over half of the total volume in
2015
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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