Organic vanilla is certified vanilla, which is produced by the traditional means without the use of chemical containing fertilizers and pesticides. Major share of organic vanilla is procured from Madagascar, which accounts for more than 80% of the total global organic vanilla production in the year 2016. Obtaining organic certification for vanilla is a difficult process and hence, even though farmers practice organic farming, they do not opt for organic certification based on the lack of awareness and stringent process.
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.
Complete Report Details @ https://www.marketresearchfuture.com/reports/organic-vanilla-market-4428
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