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.