A recent research report published by MarkNtel Advisors has cited that the Global Vanilla Market is set to record around 5.4% CAGR during 2022-27. The growing awareness among people about various health benefits of vanilla, such as its richness in vitamins, minerals, & phenols, i.e., stimulating its adoption massively across the food & beverages sector, is the prime aspect driving the Global Vanilla Market. In addition, the swift expansion of the bakery industry, surging sales of dietary supplements, and the accelerating consumption of healthy drinks by consumers are also augmenting the growth of the vanilla industry globally.
Besides, the rising consumer demand for clean label products is generating growth prospects for the leading companies to introduce organically & conventionally produced vanilla to meet the growing consumer needs worldwide. Moreover, the presence of robust supply chains, i.e., bringing easy availability of vanilla across different sales channels, is also demonstrating a rise in the demand for vanilla and positively influencing the overall market growth, further states the research report, “Global Vanilla Market Analysis, 2022.”
Extensive Utilization of Vanilla in Various Dishes to Stimulate the Market Growth in Food & Beverages
The growing number of food experiments & exploration of new vanilla flavors across different regions worldwide to bring cultural blends is driving the Global Vanilla Market across the food & beverage sector. Besides, a rapid inclination of people toward healthy eating habits is also demonstrating an upswing in requirements for vanilla-based dietary supplements, beverages, & dairy products, among others. Moreover, the mounting popularity of desserts, bakery, & confectionery items, coupled with the increasing establishment of food chains across different countries, are other aspects driving the Global Vanilla Market across the food & beverage industry.
Massive Food Culture across Europe to Drive the Demand for Vanilla through 2027
The rapid growth of the cosmetic & personal care sectors, i.e., augmenting the vanilla utilization in various skincare products, fragrances, & cosmetics, is driving the Europe Vanilla Market. Besides, the growing consumer inclination toward natural skincare products, food & beverages, etc., is further playing a prominent role in fueling the demand for vanilla across Europe and, in turn, instigating the leading players to increase their production & distribution capacities in order to suffice the burgeoning user requirements.
Moreover, as several countries across Europe are drawn toward food experimentation and thus cater to a significant population of tourists & migrants entailing different food cultures, the production & sales of vanilla are rapidly surging across the region and positively influencing the overall market expansion. Hence, these aspects are projected to lead Europe to acquire the second-largest share in the Vanilla Market through 2027.
The major companies in the Global Vanilla Market include Advanced biotech, Apple Flavor & Fragrance Group, Agro Products & Agencies, Archer Daniels Midland Company, Amadeus, Boston Vanilla Bean Company, Döhler GmbH, Evolva, Frontier Natural Products, Givaudan SA, International Flavors & Fragrances, Jiaxing Zhonghua Chemical Co. Ltd., Kerry Group plc., McCormick & Company, Inc., MacTaggart’s Brand, Nielsen-Massey Vanillas, Organic Spices Inc., Sensient Technologies Corporation, Solvay, Tharakan and Company, and Vanilla Food Company.
Key Questions Answered in the Research Report