The global vanillin market is anticipated to reach US$706.15 million in 2024, growing at a CAGR of 5.12% for the period spanning 2020-2024. The growth of the market has been driven by a growing population, mounting penetration of vanillin in the pharmaceutical sector, increasing prevalence of psoriasis, accelerating sales of packaged food, expanding urbanization and rising disposable income. However, growth of the market would be challenged by high prices of vanillin, limited availability of vanilla pods and stringent government regulations. Some of the noteworthy trends of the market include upsurge in cigarette consumption, surging consumption of ice creams, upsurge in cosmetics manufacturing and declining tobacco price.
The global vanillin market is categorized on the basis of type, form and end-user. According to the type, the global vanillin market can be categorized into synthetic vanillin and natural vanillin. On the basis of form, the market can be split into methyl vanillin and ethyl vanillin. Whereas, in terms of end-user, the global vanillin market can broadly be segmented into food & beverages, fragrances, pharmaceuticals and other end-users.
The fastest growing regional market is Asia Pacific owing to the growing population, rising demand for bio-based process intermediates for drug manufacturing, increasing demand from consumers for green label products, rapid growth in end-use markets such as food & beverages and fragrances in the region and expanding urbanization along with rising disposable income levels.
Scope of the report:
• The report provides a comprehensive analysis of the global vanillin market segmented on the basis of type, form, end-user and region.
• The major regional and country markets (Asia Pacific (APAC), Europe, North America and rest of the World (RoW)) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (BASF SE, Solvay SA, International Flavors & Fragrances, Camlin Fine Sciences Ltd., Evolva Holding SA and Lesaffre) are also presented in detail.
Key Target Audience:
• Vanillin Manufacturers and Distributors
• Raw Material Suppliers
• End Users
• Research and development (R&D) companies
• Government Bodies & Regulating Authorities