![]() Bio Vanillin Market Growth, Trends and Forecasts to 2024 | Hexa ResearchA Chapter by Markets Insights![]() The worldwide bio vanillin market is anticipated to surpass USD 226 million by 2024.![]() The worldwide bio vanillin market is anticipated
to surpass USD 226 million by 2024.
Applications in premium products, like perfumes and food & beverages can
boost the market over the forecast period (2016-2024). Bio vanillin is used
extensively in medicines and foods because it can effectively prevent any
bitter taste. Application in areas, such as cosmetics, pharmaceuticals, and
food & beverages will catapult demand in the forthcoming years.
The support and
encouragement of food regulatory authorities in North America and Europe will
impact the market positively. These authorities have identified ingredients
that are obtained as naturally derived products from microbial processing.
Regulatory standards that discourage synthetic products may encourage
industrial demand. Additionally, customer awareness and growing popularity
could fuel demand for bio vanillin during the forecast period.
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Production of bio
vanillin through biotechnological methods generates lesser unwanted side
products. For instance, there is lower toxicity, minimal emission of greenhouse
gases, and lesser energy consumption. These factors make biotechnological
methods a ‘greener’ alternative.
The global bio
vanillin industry is still in its infancy. Manufacturers are claiming their
products to be natural. A few products have also been approved by regulatory
bodies. As per regulations of the European Parliament and the Council, bio
vanillin produced by biotechnological methods using natural inputs are termed
‘natural flavoring’. This however, needs specification of source.
The bio vanillin
market is split into applications and regions. Applications comprise food &
beverages, pharmaceuticals, and fragrances. Food & beverages dominated the
market with over 65% of the total volume shares in 2015. Surging demand for
foods with a sweet aftertaste can propel the market in the forecast period.
‘Fragrances’ was
the second largest market in 2015. With a market share of 24%, this segment
stood at nearly USD 31 million in the same year. It may expand at an 8.3% CAGR
from 2016 to 2024. Fragrances are vastly used in cosmetics, personal care
products, detergents, and chemical formulations. Pharmaceuticals can gain at
over 8% CAGR (with respect to volumes) in the forecast period. This is
attributed to the growing trend of using flavorings in syrups and tablets.
Based on regions,
the industry is segmented into Europe, North America, Latin America, Asia
Pacific, and the Middle East & Africa (MEA). Asia Pacific bio vanillin led
the worldwide market in 2015 with a 40% share in terms of volume. Use of the
product in bakery and confectionery products in nations like, Malaysia,
Indonesia, Vietnam, China, and India will impel market growth.
The bio vanillin
industry will grow at a steady pace in regions, such as North America and
Europe. North America is estimated to grow at a CAGR of over 5%. Europe is
estimated to expand at over 7% CAGR in the years to come. Regulatory norms will
play a crucial role in the development of these markets.
This product is
widely used in a host of fragrances, foods, and drinks. Such a trend will
contribute substantially to the growth of this market in the forthcoming years.
Major competitors
in the global industry are Apple Flavors & Fragrances Group Company
Limited, Solvay SA, International Flavors & Fragrances, and Ennloys.
Companies engage in strategic partnerships & technological developments for
occupying more shares.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/nutraceuticals-and-functional-foods-industry
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Added on January 10, 2017 Last Updated on January 10, 2017 Tags: bio vanillin market, bio vanillin market size, bio vanillin market share, bio vanillin market analysis, bio vanillin market growth, bio vanillin market trends, bio vanillin market forecasts Author![]() Markets InsightsFelton, CAAboutAbout Us: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer c.. more..Writing
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