13 June 2019, The global bio vanillin market is subject to witness a substantial growth due to the rising demand
from food & beverage industry. Additionally, growing demand from various
end-user industries such as food & beverage, cosmetics and pharmaceuticals
are expected to drive the growth of bio vanillin in upcoming years. Globally,
the market is predicted to grow at higher CAGR of 8.32% in forecast period,
providing numerous opportunities for market players to invest in research and
development in the bio vanillin market.
Vanillin is commonly used as flavoring ingredient to
enrich taste of cuisine or packaged food products. Application of the vanillin
include bakery products, confectioneries, ice-cream, chocolates, and
non-alcoholic beverages. Thus, increasing demand form packaged food industry
due to its wide range application is predicted to fuel the growth of the market
over the forecast period.
Growing popularity of the bio vanillin market from
pharmaceutical sector is attributed to ability of vanillin to mask undesirable
taste of livestock fodder or medicines. Vanillin is also used as an
intermediate for the manufacturing of agro-chemicals and drugs. Increasing
demand from personal care industry and cosmetics industry from various parts of
the globe is estimated to augment the growth of vanillin market in upcoming
years.
Vanillin adds distinctive flavor and taste to the food
products, leading to increasing demand from number of packaged food
manufactures. Vanillin contains low calorie ingredients and essential
antioxidants. Such advantages makes it suitable for its use in various bakery
products and alcoholic & non-alcoholic beverages. Changing food patterns
and increasing health awareness among young population is largely influencing
market demand for bio vanillin, in the recent years. Additionally, shifting
focus towards organic food products and healthy life style is expected to fuel
the growth of the market in the upcoming years.
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| Bio Vanillin Industry |
However, labeling and packaging of vanillin are harmful
to health of an individual working in close proximity with the product causing
eye irritation, skin infections, acute toxicity, aquatic chronic disorders and
acute aquatic toxicity, thus negatively affecting market growth. Numerous
safety measure has to be implemented while performing task such as labeling and
packaging. Yet, increasing demand from Asia Pacific and European owing to the
presence of large-scale food & beverage industry and businesses are
anticipated to fuel market growth during the forecast period.
The market is broadly categorized into three major
segments based on the application type such as food & beverages industry,
flavors & fragrances industry and pharmaceutical sector. The food &
beverages industry is considered as one of the fastest growing segment in the
market with substantial revenue generation in the last few years. Growing
popularity of bio vanillin in the food & beverages segment is attributed to
its ability to enhance the aroma, flavor, shelf life, and taste of various food
& beverage products.
The market is divided by region as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rise in the implementation of latest technologies
during manufacturing of bio vanillin, growing health awareness, growing demand
of packaged food, increase in the number of research & development
activities in the region, and existence of well-established industrial
infrastructure.
Asia-Pacific region is predicted to hold major market
share in the bio vanillin market with massive growth in forecast period. Countries
such as India, China and Singapore are leading the Asia-Pacific market with
growing demand from the various end-user industries, changing food patterns,
dietary preferences, rising per capita income, and significant investment by
leading industry players considering potential growth opportunities in the
region. The key players in the bio vanillin market are Ennloys Co., Solvay
S.A., Apple Flavor & Fragrance Group Co., Ltd., International Flavors &
Fragrances, Inc., and Evolva Holding Ltd.
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