Global Vanillin Market Performing, To Reach US$724 Million

  • Wednesday, 05 July 2017 10:00
  • Published in Business News
  • Read 380 times

Food and beverage accounted as the largest end-use segment in 2016 and is estimated to generate revenue worth US$448.5 million by 2025.

A report by market research company Grand View Research revealed the global vanillin demand was 18,600 tons in 2016 and the market is expected to grow at a compound annual growth rate (CAGR) of 6.2 percent from 2017 to 2025.

The industry in Asia Pacific is projected to witness substantial growth over the next eight years owing to robust growth in various end-use industries, especially in the food and beverage market. In terms of revenue, the region’s market is expected to grow at a CAGR of 7.6 percent during the forecast period.

Vanillin is an essential aromatic compound extensively used to enhance the aroma and flavour of different end-use products. It is widely used as flavouring agent in food products and aromatic additives for incense, perfumes, medicines, candles, and air fresheners.

Due to the ingredient’s ability to enhance flavour in food products coupled with low-calorie content and high availability of antioxidants in vanillin, its demand from the food and beverage segment is anticipated to increase over the forecast period.

Growing demand for a variety of food products as well as increasing consumer awareness on product sustainability is encouraging manufacturers to produce vanillin products from a sustainable source.

APFI About Us

Asia Pacific Food Industry (APFI) is Asia’s leading trade magazine for the food and beverage industry. Established in 1985, APFI is the first BPA-audited magazine and the publication of choice for professionals throughout the industry with its editorial coverage on the latest research, innovative technologies, health and nutrition trends, and market reports.

Asia Pacific Food Industry is published by Eastern Trade Media Pte Ltd. The company owns numerous trade and consumer titles, including Asia Pacific Metalworking Equipment News and Industrial Automation Asia.

Ebook

View Now