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Vanillin Market: Projection of Each Major Segment over the Forecast Period

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.

The Global Vanillin Market is expected to reach USD 724.5 million by 2025, according to a new report by Grand View Research, Inc.

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.

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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. 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.

Top Players of Vanillin Market:

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.

Market Segmentation of Vanillin Market:

The Global Vanillin Market segmented on the basis of End-Use, and Region.

By End-Use:

Food & Beverage
Fragrance
Pharmaceutical

By Region:

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa

Inquire about Vanillin Market with Our Experts @ https://www.grandviewresearch.com/inquiry/4413/ibb 
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