Vanilla Extract Market Study: An Emerging Hint of Opportunity by 2030

The Vanilla Extract Market size is expected to grow from US$ 261.11 million in 2022 to US$ 409.93 million by 2030; it is estimated to register a CAGR of 5.8% from 2022 to 2030.

Vanilla has a unique flavor and aroma, making it a famous flavoring agent across the food & beverage industry. Vanilla extract has been increasingly used as a flavoring agent in cakes, muffins, pastries, doughnuts, and other bakery products for many years. Over the past few years, vanilla extract has been used in latte, hot chocolates, thick shakes, cocktails, cold drinks, and other beverages. Vanilla extract in powder form is frequently used in spice mixes, dry baking premixes, and other dry ingredients. Moreover, vanilla extracts are extensively used in personal care flavor owing to its flavor, antibacterial and anti-inflammatory properties. They are utilized in moisturizers, creams, etc. Thus, due to wide range of applications, the vanilla extract market is expected to drive globally.

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Analysis of the Top Market Players:

1. Eurovanille
2. Prova SAS
3. Tharakan and Co
4. HE Stringer Flavours Ltd
5. Natural Vanilla Pty Ltd
6. Kerry Group Plc
7. Archer-Daniels-Midland Co
8. Virginia Dare Extract Co Inc
9. Lochhead Manufacturing Co
10. Synergy Flavors Inc

In this report, the market has been segmented on the basis of:

Form
• Powder
• Liquid

Category
• Organic
• Conventional

Application
• Food & Beverages

 Bakery & Confectionery
 Dairy & Frozen Desserts
 Beverages
 Sweet & Savory Snacks

• Personal Care

Based on category, the global vanilla extract market is bifurcated into organic and conventional. The organic segment expected to register highest CAGR in the forecast period. The organic vanilla beans are grown in soil that is free from chemical fertilizers and other genetically modified ingredients. Synthetic pesticides and herbicides are also prohibited for organic vanilla farming. Organic vanilla extract is minimally processed, with no fumigation or irradiation, which preserves its original flavor and aroma. Many regulatory bodies across different countries provide certification to companies involved in organic farming and manufacturing. Generally, organic vanilla extract is of superior quality and expensive as compared to conventional vanilla extract. Therefore, the demand for organic vanilla extract is projected to increase as customers demand premium quality and more natural products.

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Asia Pacific is expected to register the highest CAGR in the global vanilla extract market over the forecast period. The market in Asia Pacific is driven by the upsurging demand for natural ingredients and the growing influence of 'clean-label products' among the population in Asia Pacific. Consumers seek natural additives in food and beverages, boosting the demand for vanilla extract in Asia Pacific countries. Due to lifestyle changes, urbanization, and stressful lives, people prefer to take aromatherapies for physical and emotional well-being. Vanilla extracts are increasingly used in oils that play a vital role in aromatherapy. These factors propel the market growth in the region. Since ancient times, natural extracts have been used in personal care and cosmetics products.

Further, natural vanilla extract possesses antioxidant and antibacterial properties that prevent breakouts while soothing redness and inflammation. Japan is famous for various cosmetics. Demand for organic and natural cosmetics is growing in the country. Therefore, the preference for vanilla extract over artificial ingredients is increasing in cosmetic products. All these factors boost the vanilla extract market growth in Asia Pacific.

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