The global Vanillin Market 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 flavoring agent in food products and aromatic additives for
incense, perfumes, medicines, candles, and air fresheners. Due to an
ability to enhance flavor in food products coupled with low-calorie
content and high availability of antioxidants in vanillin, its demand
from 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 variety food products is encouraging manufacturers to produce
vanillin products from a sustainable source.
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 market
over the forecast period. In addition, increasing usage of fragrance
products in the emerging economies such as India, China, the U.S., and
Brazil is expected to increase the demand further.
To Request for Sample Copy of this report: 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 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 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 has segmented the global vanillin market on the basis of end-use, and region:
Vanillin End-use Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- Food & Beverage
- Fragrance
- Pharmaceutical
Vanillin Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- North America
- US.
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
Access Press Release of this Report: http://www.grandviewresearch.com/press-release/global-vanillin-market
About Grand View Research
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, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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