Vanillin Market Size, Analysis & Forecast 2030

Vanillin Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Type (Natural and Synthetic) and Application (Food and Beverages, Pharmaceuticals and Nutraceuticals, Personal Care, Others)

Publication Month : Mar 2024

  • Report Code : TIPRE00011927
  • Category : Food and Beverages
  • Status : Upcoming
  • No. of Pages : 150
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[Research Report] The vanillin market size accounted for approximately USD 1.2 billion in 2022 and is projected to register a CAGR of ~ 5% from 2022 to 2030 to reach 1.7 billion in 2030.

Market Insights and Analyst View:

Vanillin is the main aromatic compound found naturally in vanilla beans. Vanillin can also be produced synthetically from petrochemicals such as eugenol and guaiacol derived from crude oil. Vanillin is also manufactured from lignin waste and through bio-based processes. The demand for vanillin is increasing significantly in the food & beverages, pharmaceuticals and nutraceuticals, personal care, home care, aromatherapy, and detergents industries due to its sweet aroma and flavor. Thus, the rising demand for vanillin across various end-use industries is driving the vanillin market growth across the globe.

Growth Drivers and Challenges:

Over the past few years, there has been a significant shift in the consumption patterns of people across the globe. The demand for instant and ready-to-eat convenience products has increased drastically due to the hectic lifestyle of people. People spend half their time in offices, leading to a lack of physical activity and health issues such as obesity. Therefore, people are shifting toward healthy, low-calorie, and 100% natural food products. Consumers perceive natural and organic products to be healthier than conventional products. Therefore, the demand for all-natural and certified organic products is increasing tremendously. Consumers increasingly prefer brands that claim the utilization of 100% natural ingredients. They tend to be loyal to those brands that use natural food additives in their products. This factor significantly drives the demand for natural flavoring ingredients including natural vanillin. Thus, the rising demand for natural vanillin in the food & beverage industry due to shifting consumer preferences is driving the vanillin market growth. Further, with rising awareness about sustainability, the demand for biovanillin is also increasing. Biovanillin is made from microorganisms using fermentation technology with precursors such as ferulic acid, isoeugenol, and eugenol. These precursors can be obtained synthetically or from natural agro-based materials. For instance, Borregaard offers biovanillin from renewable raw materials such as Norway spruce. Their biovanillin products are PEFC-certified (Programme for the Endorsement of Forest Certification). The Norway spruce is sourced from sustainably managed forests. Thus, such products are expected to provide a competitive advantage to the company opening new opportunities in the vanillin market over the next few years.

However, the vanillin market is expected to witness significant challenges over the coming years due to price volatility in the natural vanilla industry. Natural vanilla is cultivated in specific countries such as Madagascar, Indonesia, Mexico, and Uganda among others. The plant is highly vulnerable to adverse climatic conditions. If the climate is unfavorable for cultivating vanilla, whole plants need to be discarded. This factor creates significant challenges to cultivating and sourcing vanilla. This factor also impacts the adoption of natural vanillin in various industries as the prices of natural vanillin are very high. All these factors create massive challenges in the global vanillin market.

Strategic Insights

Report Segmentation and Scope:

The "Global Vanillin Market" is segmented based on type, category, application, and geography. Based on application, the vanillin market is segmented into food and beverages, pharmaceuticals and nutraceuticals, personal care, and others. The vanillin market based on geography is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Report Segmentation and Scope:

Segmental Analysis:

Based on type, the vanillin market is segmented into natural and synthetic. The synthetic segment holds a significant share of the global vanillin market. Synthetic vanillin is obtained from petrochemicals such as such as eugenol and guaiacol which are derived from crude oil. It is very cheap compared to natural vanillin and is easily available. Natural vanilla is the second-most expensive spice in the world, after saffron. Its production is highly limited to specific countries including Madagascar, Mexico, Indonesia, Uganda, and Tonga, among others. Vanilla cultivation is a complex process as the crop requires a very specific climate to grow. This factor creates high price volatility in the natural vanilla industry making vanilla highly expensive. Therefore, the majority of the industries prefer synthetic vanillin to ensure easy procurement of raw materials and low production costs. This factor drives the growth of the synthetic vanillin segment in the global vanillin market.

Segmental Analysis:

Based on application food and beverages, pharmaceuticals and nutraceuticals, personal care, and others. The food and beverages segment is expected to hold a significant share of the vanillin market. Vanilla is one of the widely used flavors in the food and beverages industry. Bakery products such as cakes, cookies, biscuits, pastries, and breads are often flavored with vanilla due to their sweet and spicy flavor and aroma. Children are fond of vanilla-flavored confections and ice creams. The love of vanilla as a flavor is not restricted to certain age groups. It is a highly popular flavor among the older population as well. Thus, the high popularity of vanilla flavor among people of all age groups is driving the demand for vanillin in the food and beverages industry across the globe.

Regional Analysis:

Based on geography, the vanillin market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. The Asia Pacific vanillin market is expected to grow significantly over the forecast period. Asia Pacific is one of the significantly growing markets for vanillin owing to the presence of a potential customer base, low manufacturing costs, cheap skilled labor, and rising demand for vanilla-flavored food products such as cakes, confectionery, RTD beverages, cookies, ice-creams, etc. Moreover, the region's rapidly growing personal care industry also provides significant growth potential to the vanillin market, as vanillin has a wide range of applications in personal care products. Vanillin has calming, soothing, and antioxidant properties making it one of the desirable ingredients in moisturizers and lotions. Also, the unique aroma of vanillin is driving its demand in the fragrance industry. Various manufacturers of mists, perfumes, and fragrances are launching products with vanillin as a primary aroma. For instance, Plum Goodness, an India-based cosmetics and personal care company, provides body mists with sweet and spicy vanilla. The availability of such products and the rising popularity of vanilla are bolstering the vanillin market growth across Asia Pacific.

Industry Developments and Future Opportunities:

Various initiatives taken by key players operating in the vanillin market are listed below:

  1. In September 2022, Solvay expanded its line of natural vanillin flavors for the food and beverage industry with the launch of Rhovanil Natural Delica, Alta, and Sublima. The company aims to address the rising demand for healthier, safer, and natural vanillin products with the launch of its brand-new ingredients. 
  2. In May 2023, Evolva signed a multi-year agreement with a contract manufacturing organization (CMO) partner for the supply of vanillin to consumers across the flavors and fragrances industry.

COVID-19 Impact: 

The COVID-19 pandemic affected almost all industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) hampered the growth of several industries, including the food & beverage industry. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in sales of their products in 2020. The supply chain disruption caused by the pandemic resulted in a significant hike in vanilla prices. Due to lockdowns and trade bans, the massive disruption in the supply of vanilla created a demand and supply gap. This factor negatively impacted the sales of natural vanillin manufacturers who rely on procuring vanilla beans and pods from vanilla farmers. Also, due to the shutdown of manufacturing units and lockdown measures, synthetic vanilla manufacturers also faced problems procuring raw materials, resulting in lower production volumes. All these factors had a negative impact on the vanillin market growth.

The pandemic altered global consumer preferences as health became the top priority. The focus on cleaner ingredients, GMO-free, free from synthetic and chemical ingredients increased dramatically, which is expected to provide lucrative opportunities to the natural vanillin market. Also, as sustainability became one of the top priorities in the wake of the pandemic, people started paying more attention to ethically sourced ingredients. This factor created significant growth potential for the vanillin market. 

In 2021, various economies resumed operations as several governments announced relaxation in the previously imposed restrictions, positively impacting the global marketplace. Moreover, manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap.

Competitive Landscape and Key Companies:

A few of the prominent players operating in the global vanillin market are Solvay, Borregaard, Givaudan, International Flavors & Fragrances Inc., Firmenich SA., Virginia Dare, Apple Flavor & Fragrance Group Co. Ltd., Lesaffre, and Advanced Biotech among others. These market players are adopting strategic development initiatives to expand, further driving the vanillin market growth. 


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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

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to segments covered.

Regional Scope
Regional Scope

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

Country Scope
Country Scope

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to country scope.

The List of Companies

1. Prinova Group LLP
2. Solvay SA
3. Camlin Fine Sciences
4. Evolva Holding SA
5. Jiaxing Zhonghua Chemical Industry
6. Merck Group
7. Viachem
8. OKCHEM
9. GC Chemicals
10. Salvi Chemical Industries Ltd.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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