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The global natural vanillin market is projected to reach USD 706 million by 2027 growing at a CAGR of 8.4% from 2022 to 2027
Due to rising health consciousness, consumer spending power, and instances of food adulteration, the demand for food with natural ingredients and clear labeling is rising in almost all countries. Nearly 75% of consumers are reportedly willing to pay premium costs for clean-label products, according to the Clean Label Alliance.
New York, March 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Natural Vanillin Market by Source, Application And Region - Global Forecast to 2027" - https://www.reportlinker.com/p06428928/?utm_source=GNW
The demand for natural and clean-label products is driven by customers’ rising health consciousness, which also drives the need for natural vanillin.
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Natural vanillin has high demand in the food & beverage industry.
The food & beverages segment was the largest and accounted for a share of 46.4% in 2021; it is projected to grow at the highest CAGR of 8.47% during the forecast period. This growth is attributed to the increased innovations and product launches in beverages, especially non-alcoholic beverages with better taste and nutritional benefits. The food industry has increased consumer demand for natural ingredients and healthier products like natural vanillin. Natural Vanillin is a natural flavoring ingredient that is used in various applications, such as food & beverages, pharmaceuticals, and cosmetics & personal care. Vanilla has long been valued in the culinary world. It is used to flavor desserts, puddings, light beverages, alcoholic drinks, sweets, custards, confectionaries, syrups, yogurts, protein powders, sports drinks, protein bars, dietary supplements, and other similar foods. The popularity of vanilla as a food flavor has substantially increased over time.
Asia Pacific is projected to witness substantial growth during the forecast period in the natural vanilla market.
80% of the world’s production of vanilla comes from Madagascar, but it can also be grown in small amounts in a few subtropical countries in the Asia Pacific region, including Indonesia, Papa New Guinea, and India. Natural vanilla is more in demand than synthetic vanilla in the Asia Pacific region, especially in a few nations like China and India. Due to the expanding food and beverage industry, vanilla and its byproducts are experiencing substantial expansion in Asia Pacific. The fastest-growing markets in the area are those in emerging economies like China and India.
Break-up of Primaries:
• By Company Type: Tier 1 – 45%, Tier 2- 30%, Tier 3 – 25%
• By Designation: C level – 29%, Managers – 21%, Executives – 50%
• By Region: North America – 30%, Europe – 25%, Asia Pacific – 30%, RoW –15%
Leading players profiled in this report:
• Givaudan (Switzerland)
• Firmenich SA (Switzerland)
• Symrise (Germany)
• Kerry Group Plc (Ireland)
• Sensient Technologies Corporation (US)
• MANE (France)
• PROVA (US)
• McCormick & Company, Inc. (US)
• International Flavors and Fragrances (US)
• SOLVAY (Belgium)
• Lesaffre (France)
• Aurochemicals (US)
• Advanced Biotech (US)
• Oamic Biotech Co., Ltd. (China)
• Axxence Aromatic GmbH (Germany)
• Moellhausen Spa (Italy)
• Nielsen-Massey Vanillas, Inc. (US)
• Apple Flavor and Fragrance Group Co., Ltd. (China)
• Fujian Yong’an Zhiyuan Biochemical Co., Ltd. (China)
• Comax Flavors (US)
Research Coverage:
The report segments the natural vanillin market on the basis of source, application, and region. In terms of insights, this report has focused on various levels of analyses—the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global natural vanillin market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
• To get a comprehensive overview of the natural vanillin market
• To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them.
• To gain insights about the major countries/regions in which the natural vanillin market is flourishing.
Read the full report: https://www.reportlinker.com/p06428928/?utm_source=GNW
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