New York, United States, March 16, 2020 (GLOBE NEWSWIRE) -- The global bio vanillin market will grow at 7.1% CAGR during 2019-2029, depicting 2X expansion of the market during the said period. Manufacturers are experimenting with flavors to provide unique and exclusive products, in addition to adopting novel fermentation techniques to deliver sustainable bio vanillin products. Vendors of bio vanillin are exploring opportunities in untapped areas of cosmetics & personal care industry. Clean labeling of bio vanillin products is attracting health-centric consumers, boosting the growth of the bio vanillin market.
Bio Vanillin Market: Key Takeaways
- Rice bran will be the preferred source of bio vanillin owing to its sustainable nature.
- Growing demand for excellent aromatic properties in cosmetics & personal care segment will create lucrative opportunities in the market during the forecast period.
- Europe will stay at the forefront in the market as the largest base of consumers and producers.
- Buoyed by a surge in the popularity of vanillin-flavored food products, bio vanillin markets in East Asia and South Asia will exhibit rapid growth through 2029.
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Bio Vanillin Market: Key Growth Drivers
- Growing consumer awareness regarding side effects of artificially-produced food additives is driving the growth of bio vanillin market.
- Burgeoning demand for nutritive food and vegetable products acts as a growth lever for bio vanillin market.
- Customized flavor blends of food additives are gaining rapid traction in the bio vanillin market.
- Sustainable production method surges the popularity of Fermentation-derived bio vanillin, enhancing its sale.
- Perfumery in cosmetics and personal care industry is generating a plethora of growth opportunities for the manufacturers.
Bio Vanillin Market: Key Restraints
- The high cost of bio vanillin is a major market growth restraining factor.
- Limited availability of bio vanillin is a challenge before the manufacturers in the bio vanillin market.
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Bio Vanillin Market: Competition Landscape
Key players in the bio vanillin market are emphasizing on unique natural flavors to provide vibrant flavored experience to the customers. For instance, Solvay, a leading manufacturer of bio vanillin introduced a range of vanilla-based products under the brand name, Vanifolia, which contained a combination of natural vanillin and other natural flavors. Major players in the bio vanillin market are Evolva Holding SA, Borregaard, Solvay SA, Prinova Group LLC, Apple Flavor & Fragrance Group Co., Ltd., and Omega Ingredients Ltd.
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More about the Report
This Persistence Market Research study of 240 pages offers actionable information on the bio vanillin market. The market analysis is on the bio vanillin market based on end-use (cosmetics and personal care, food and beverages, and pharmaceuticals), source (wood, rice bran, and others) across seven different geographic regions.
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