PUBLISHER: KBV Research | PRODUCT CODE: 1374215
PUBLISHER: KBV Research | PRODUCT CODE: 1374215
The Asia Pacific Natural Vanillin Market would witness market growth of 9.0% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 768.1 Tonnes, showcasing a growth of 7.8% (2019-2022).
Vanillin is widely used in the food industry due to its adaptability as a flavoring and aromatic agent. Due to its potential to improve the sensory experience of various products, its applications have also expanded to involve the pharmaceutical, personal care, cosmetics, and toiletries industries. The market is poised for continuous expansion, driven by the rising demand for naturally derived flavors and ingredients as consumers emphasize natural and sustainable products. As consumer awareness of natural and clean-label foods rises, the demand for natural flavors such as vanilla grows steadily throughout the study period. During the forecast period, numerous regional industries for plant-based creamers, which are expanding rapidly, are anticipated to exhibit a positive demand for natural vanillin. This will drive the rising demand for natural vanillin and customer demand for snacks, ice cream, and cookies with comparable flavors.
Consumer demand for natural vanillin will increase due to the premiumization trend. In the future, premium products are anticipated to be in high demand globally. People's growing disposable income and the rising health consciousness of consumers contribute to consumers' growing preference for premium products. Moreover, skin sensitivity and environmental impact induced by natural ingredients have increased the demand for natural fragrance ingredients in personal care products. The expanding health risks associated with synthetic product use have also prompted consumers to pay more for less toxic and environmentally friendly products. Additionally, consumers are ready to pay a premium for products with natural constituents. As a result of this trend, fragrance producers have created products using natural ingredients to boost their profit margins.
Health-conscious consumers in China are gravitating toward products with natural and authentic flavors. Natural vanillin provides a genuine and recognizable vanilla flavor that appeals to those seeking authentic taste experiences. As part of a broader wellness trend, consumers in China are looking for products with reduced sugar and fat content. Natural vanillin can enhance the flavor of low-sugar and low-fat products, making them more appealing without compromising health goals. The awareness of health and wellness in China contributes to the growing demand for natural vanillin. Consumers are seeking clean-label, natural, and authentic flavor options in their food and beverage products, and natural vanillin aligns well with these preferences. As this awareness continues to rise, the natural vanillin demand in China is expected to expand further.
According to the International Trade Administration, the Ministry of Economy, Trade, and Industry (METI) estimated that the size of the cosmetics and personal care products sector in Japan was approximately $35 billion in 2019. Japan has approximately 3,000 beauty care corporations, such as Shiseido, Kao, Kose, and Pola Orbis. Due to the above-mentioned factors, the natural vanillin market will grow significantly in this region.
The China market dominated the Asia Pacific Natural Vanillin Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $69,404.7 Thousands by 2030. The Japan market is registering a CAGR of 8.3% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 9.8% during (2023 - 2030).
Based on Application, the market is segmented Food & Beverages (Bakery & Confectionery, Beverages, Dairy, and Others), Cosmetics & Personal Care, and Pharmaceuticals. Based on Source, the market is segmented into Ferulic Acid Synthesis, Vanilla Bean Extract, Eugenol Synthesis, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Givaudan SA, Merck KGaA, Symrise AG, Kerry Group plc, Solvay SA, International Flavors & Fragrances, Inc., Sensient Technologies Corporation, McCormick & Company, Inc., MANE Group, and Lesaffre Group.
Market Segments covered in the Report:
By Application (Volume, Tonnes, USD Thousands, 2019-2030)
By Source (Volume, Tonnes, USD Thousands, 2019-2030)
By Country (Volume, Tonnes, USD Thousands, 2019-2030)
Unique Offerings from KBV Research