Market Size – USD 243.09 Million in 2021, Market Growth - CAGR of 3.39%, Market Trends –the increasing demand from electronics industry is widening the scope for Bio vanillin Market.
According to the current analysis of Introspective Market Research, the global Bio vanillin Market was valued at USD 243.09 Million in 2021 and is expected to reach USD 306.98 Million by the year 2028, at a CAGR of 3.39%.
Vanilla is the essential natural flavoring agent utilized in industries such as pharmaceuticals, food, flavoring, beverages, sodas, and fragrances, in which vanillin is the vital component. The production of vanillin through a biotechnological process is known as bio-vanillin. Bio-vanillin derived from the biotechnological process has significant advantages it not only fulfills the needs of modern consumer trends by being considered natural but also supports industrial production. The waste generated by this process is non-toxic and can be utilized in another industrial process. The usage of biotechnological applications such as plant tissue culture, microbial fermentation, and bio-conversion are gaining popularity. These processes enable the conversion of fruit and vegetable ingredients into flavors without affecting the nutritional value thus are considered relatively more natural and healthier as compared to chemically-synthesized vanillin.
There has been a significant rise in the demand for vanillin, attributed to the growing food and cosmetic industry. Moreover, the vanilla industry has been significantly affected by global warming. Natural vanillin is extracted from vanilla beans, and about 80 percent of the vanilla beans are grown on Madagascar island, the island has been ravaged by multiple storms, destroying thousands of plants thus, driving the prices of the natural vanillin. The growing prices of vanillin have stimulated the demand for bio-based vanillin. Bio-vanillin is manufactured by the fermentation of ferulic acid found in rice bran, wheat bran, and tea leaves. Bio-vanillin can be utilized in various food products to enhance the aroma, flavor, and taste without altering their nutritional value. The growing consumer inclination towards bio-based food products is the main factor promoting the expansion of the bio-vanillin market.
The pharmaceutical industry also utilizes bio-vanillin as a flavoring ingredient while manufacturing various medicines. The usage of bio-vanillin in pharmaceutical products eliminates the odor and foul taste of medicines. Furthermore, the rise in the demand for natural fragrances in personal care products and the growing consumer inclination towards bio-based cosmetics is the main factor stimulating the development of the bio-vanillin market.
The bio-vanillin market is segmented, by source (wheat bran, rice bran, tea leaves, and others), end-users (Food & Beverage {dairy products, bakery, and confectionaries}, cosmetics, and pharmaceuticals), and Region
Some of the key market players in the bio-vanillin market are Archer Daniels Midland Company, ENNOLYS, Omega Ingredients Ltd, Solvay SA, Givaudan SA, Firmenich SA, Apple Flavor & Fragrance Group Co., Evolva Holding SA, Lesaffre, Alfrebro, LLC, Aurochemicals, Advanced Biotech, Comax Flavors, and Camlin Fine Sciences Ltd., and others
Regional Outlook (Revenue in USD Million; Volume in Units, 2021-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Turkey
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Vietnam
- Thailand
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Iran
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of LATAM
