Vanilla is widely used in personal care products due to its
fragrance. It is also used in the rubber industry to counter the unpleasant
odor. Additionally, the anticlastogenic effect of vanillin, the compound found
in vanilla, has led to its use in sun care products. This compound protects
cells from harmful ultraviolet (UV) radiation and X-rays. Thus, these factors
are expected to boost the growth of the global vanilla market in the near
future.
The global vanilla market has been segmented on the basis of
form, category, application, and region.
On the basis of form, the global vanilla has been segmented
into liquid, powder, and others. The liquid segment is projected to be the
largest and fastest-growing during the forecast period due to the wide
availability and convenience of the liquid form of vanilla. Liquid vanilla is
made by soaking the beans in a mixture of water and alcohol until the bean
separates and liquifies.
The global vanilla market has been segmented, by
application, into food & beverage, personal care, and others. The
food & beverage segment is projected to account for the largest share of
the global vanilla market due to the widespread use of vanilla in
the bakery and confectionery, dairy and frozen desserts, and beverages
sub-segments, among others. Additionally, there is an increasing demand for
vanilla in cosmetics and personal care products such as lotions, perfumes, and
moisturizers for its fragrance and antispasmodic, anti-inflammatory, and
analgesic properties, which help in reducing chromosomal damage caused by X-ray
and UV light.
Regional Analysis
On the basis of region, the global vanilla market has been
segmented into North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to account for the largest revenue
share of the global vanilla market during the review period due to increasing
use in various industries in the region. Moreover, the region is home to
several players active in the global vanilla market.
The market in Asia-Pacific is expected to register the highest
growth rate during the forecast period as market players are expanding their
operations in the region.
Key Players
Some of the key players in the global vanilla market are E.A.
Weber and CO. (US), Organic Spices Inc (US), Sensient Technologies Corporation
(US), Symrise AG (Germany), Penta International Corporation (US), Nielsen-Massey
Vanillas, Inc. (US), Kerry Group plc (Ireland), Heilala Vanilla Limited (New
Zealand), Firmenich SA (Switzerland), and Doehler GmbH (Germany).
Complete Report Details @ https://www.marketresearchfuture.com/reports/vanilla-market-7806
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