Rising consumers’ awareness about
harmful chemicals present in the vanilla has spurred the demand for organic
vanilla on a global level, which justifies the increasing growth rate of
organic vanilla globally.
Market Forecast
The global market for organic vanilla
is experiencing high demand during the last few years and is projected to reach
USD 207 million by 2022. Developing economy and consumers’ adoption of
sustainable development trends are likely to drive the organic vanilla market
share in the countries of the developed regions. Higher inclination of consumes
towards chemical-free food ingredients has a positive impact on this market.
Technological strides are found to facilitate agricultural productivity is also
likely to have a positive impact on its market growth.
By Downstream Analysis
By 2022, organic vanilla will reach a
market value of USD 207 million on a global level. Potential applications of
organic vanilla in food and beverage industries have a positive impact on its
market share growth. Based on the application, food and beverage will
experience the highest growth rate followed by personal care. Food and beverage
will account for a market share of more than 85% during the given period.
Competitive Analysis
The major key players in Organic
Vanilla Market
Ever
Organic (U.S.)
The
Vanilla Company (U.S.)
Super
Africa Products (Madagascar)
Nestlé
S.A. (Switzerland)
General
Mills, Inc. (U.S.)
Nielsen-Massey
Vanillas Inc. (U.S.)
Symrise
AG (Germany)
Key players are focused majorly on
acquisition of small players to expand their business and penetrate the global
organic vanilla market. Expansion and R & D investments are also the major
strategies followed by the players. Expansion will help in capturing the major
market and increasing the production capacity to meet the rising demand from
consumer’s end thereby further contributing to increasing revenue. Acquisition
and expansions are evaluated to be contributing to more than 40% of strategy
share and is facilitating the companies to penetrate the potential market
across globe.
Regional Analysis
Among the regions, Africa will dominate
the organic vanilla market with more than 80% of the market share and it is
projected to reach more than USD 150 million by 2022. Rest of the world will
witness the highest growth rate (~7.75%) during the forecast period 2017-2022.
Growing popularity of organic vanilla owing to its widespread applications in
personal care products and food and beverages is supporting its market growth
on the global level. Rising health awareness and increasing health concerns
have been playing a key role in the organic vanilla growth from the last few
years.
Complete Report Details @ https://www.marketresearchfuture.com/reports/organic-vanilla-market-4428
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