Global Vanilla Market growing at a CAGR of 4.2% from 2023 to 2030
Category : Food And Beverages | Published Date : Jun 2023
Key Market Overview
The global vanilla market is expected to grow at a significant growth rate during the forecast period of 2023-2030. The Consegic Business Intelligence analyzes that the global vanilla market is expected to reach USD 3,151.76 million in 2030, which was USD 2,275.60 million in 2022, and register a compound annual growth rate of 4.2%.
The report highlights the increasing consumption of vanilla due to many health-promoting elements such as minerals, vitamins, and phenols that led to its surge in demand from consumers. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the vanilla market.
Global Vanilla Market By Overview
The vanilla market is bifurcated into product type, type, form, end-use industry, and distribution channel. Based on product type, the market is segmented into Madagascar vanilla, Mexican vanilla, Tahitian vanilla, and others. In 2022, the Madagascar vanilla segment accounted for the highest market share in the vanilla market. The type segment is categorized into organic and conventional. In 2022, the conventional segment accounted for the highest market share in the vanilla market. Based on form, the market is segmented into powder, liquid, and others. In 2022, the liquid segment accounted for the highest market share in the vanilla market. The end-use industry segment is categorized into food & beverages, pharmaceutical, cosmetics & personal care, and others. In 2022, the food & beverages segment accounted for the highest market share in the vanilla market. Based on distribution channel, the market is segmented into online (E-commerce sites and company-owned websites) and offline (specialty stores, hypermarket/supermarket, and others). In 2022, the offline segment accounted for the highest market share in the vanilla market.
Get Free SampleMarket Dynamics
Driver:
- Rising health awareness is boosting the demand for natural ingredients such as vanilla which is driving the growth of the market.
- Increasing demand from the food industry such as bakeries, confectioneries, and dairy companies is driving the growth of the vanilla market.
Restraints:
- Vulnerability to climate change and diseases is hampering the growth of the vanilla market.
- The high cost associated with vanilla production is hindering the growth of the market.
Market Segmentation:
| Report Attributes | Report Details |
| By Product Type | Madagascar Vanilla, Mexican Vanilla, Tahitian Vanilla, and Others |
| By Type | Organic and Conventional |
| By Form | Powder, Liquid, and Others |
| By End-Use Industry | Food & Beverages, Pharmaceutical, Cosmetics & Personal Care, and Others |
| By Distribution Channel | Owned Websites) and Offline (Specialty Stores, Hypermarket/Supermarket, and Others) |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Apex Flavors, Boston Vanilla Bean Company, Daintree Vanilla & Spice, and E.A. Weber and Co. have a strong market position in current market circumstances. Further, the vanilla market is expected to witness significant growth in the coming years due to the increased demand from pharmaceutical industries. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- Apex Flavors
- Boston Vanilla Bean Company
- Daintree Vanilla & Spice
- E.A. Weber and Co.
- Lochhead Manufacturing Company
- McCormick & Company, Inc.
- Nielsen-Massey Vanillas, Inc.
- Rodelle Inc.
- Sambirano Aromatic
- Keliff's
- Blue Pacific Flavours