The Vanilla Extract Market is Predict to reach USD 6.5 Billion by 2030, at a CAGR of 4.8%

Vanilla Extract Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Vanilla Extract Market size is expected to reach $6.5 billion by 2030, rising at a market growth of 4.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 27,180.29 tonnes, experiencing a growth of 4.0% (2019-2022).

The Liquid market segment is registering a strong potential in the Global Vanilla Extract Market by Product Type in 2022 thereby, achieving a market value of $5 billion by 2030. Liquid vanilla extract allows for more precise recipe measurements, making it a preferred choice for home cooks and professional chefs. The liquid form ensures easier incorporation into recipes, especially when exact measurements are crucial for flavor consistency. The liquid form simplifies the pouring and mixing process in industrial and home settings. Hence, these aspects will boost the demand in the segment.

The Synthetic market segment is poised to have a CAGR of 5.6% during (2023 - 2030). Synthetic vanilla, particularly vanillin, is generally more cost-effective than natural vanilla extract. This affordability makes synthetic options attractive to manufacturers looking for economical alternatives without compromising flavor. Synthetic vanilla allows for greater standardization of flavor profiles. Manufacturers can achieve consistent taste and aroma in their products, which is crucial for maintaining product quality and meeting consumer expectations. Thus, these aspects can assist in the expansion of the segment.

The Food and Beverages segment is leading the Global Vanilla Extract Market by Application in 2022 thereby, achieving a market value of $3.5 billion by 2030. The rise of culinary trends, such as gourmet and artisanal food products, has fueled the demand for high-quality ingredients. Vanilla extract is highly desirable in producing artisanal and premium food and beverage products owing to its complex and rich flavor profile. Therefore, these aspects will help in the growth of the segment.

The Supermarkets & Hypermarkets segment is anticipated to have a CAGR of 4.3% during (2023 - 2030). Supermarkets and hypermarkets often prioritize popular and in-demand products by placing them in prominent locations on shelves. As a staple ingredient for baking and cooking, Vanilla extract benefits from high visibility in these retail settings. Supermarkets and hypermarkets frequently run promotional offers, discounts, and bundle deals. These promotions encourage consumers to try new products or stock up on essentials, including vanilla extract. Therefore, owing to these factors, the segment will expand rapidly in the upcoming years.

Full Report: https://www.kbvresearch.com/vanilla-extract-market/

The North America region dominated the Global Vanilla Extract Market by Region in 2022 thereby, achieving a market value of $2.1 billion by 2030, growing at a CAGR of 4.1 % during the forecast period. The Europe region would witness a CAGR of 4.5% during (2023 - 2030). Additionally, The Asia Pacific region is experiencing a CAGR of 5.6% during (2023 - 2030).

List of Key Companies Profiled

• McCormick & Company, Inc.
• Kerry Group PLC
• Nielsen-Massey Vanillas, Inc.
• International Flavors & Fragrances, Inc.
• Sauer Brands Inc.
• Naturalight Foods Inc.
• OliveNation, LLC
• Frontier Cooperative
• DSM-Firmenich
• Adams Flavors, Foods & Ingredients, LLC

Vanilla Extract Market Report Segmentation

By Product Type (Volume, Tonnes, USD Billion, 2019-2030)

• Liquid
• Powder

By Source (Volume, Tonnes, USD Billion, 2019-2030)

• Natural
• Synthetic

By Application (Volume, Tonnes, USD Billion, 2019-2030)

• Food and Beverages
• Personal Care
• Others

By Distribution Channel (Volume, Tonnes, USD Billion, 2019-2030)

• Business-to-Business
• Supermarkets & Hypermarkets
• Convenience Stores
• Departmental Stores
• Online Sales Channels

By Geography (Volume, Tonnes, USD Billion, 2019-2030)

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Netherlands
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Vanilla Extract Market Size, Share 2030

• March-2024
• 136 Pages

LAMEA Vanilla Extract Market Size & Forecast to 2030

• March-2024
• 154 Pages

Europe Vanilla Extract Market Size & Share to 2030

• March-2024
• 156 Pages

Asia Pacific Vanilla Extract Market Size Report 2030

• March-2024
• 160 Pages