Vanillin Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025
Posted: May 23, 2018
Vanillin (4-Hydroxy-2-mythoxy benzaldehyde) is an organic compound, belonging to the phenol aldehyde group. Vanilla beans is the largest concentrated natural source of vanillin, followed by Leptates bicolor, Chinese red pines, lychee fruit, and raspberry. Vanillin is produced through three ways namely, natural, biosynthesis, and chemical synthesis. Natural and chemical synthesis are two most important means of vanillin production. Vanillin is extensively used in the food industry as a flavoring agent for chocolates, ice-creams, candy, biscuits, and cakes. Ethyl vanillin and methyl vanillin are the two types of vanillin. Ethyl vanillin is a stronger flavoring agent as well as is expensive than methyl vanillin. Vanillin is also used in intermediate applications in the pharmaceuticals and fine chemicals industries.
Use of vanillin as a food additive is widely approved by authorities such as the FDA, which has granted GRAS status to its use. The use of vanillin, is not associated with the any adverse effects or associated with health complications over the past few decades. This ensures its safety, which is expected to increase the demand for vanillin globally. An Acceptable Daily Intake (ADI) of 10 mg/kg has been agreed between the FAO/WHO and EU. Lack of evidences to restrict vanillin consumption as a consumable food additive, influences a large number of manufacturers to invest more in global vanillin market. Growing urbanization, improved standard of living, and continuous research to increase techno-commercial benefits of vanillin are projected to be key drivers for growth of the global vanillin market during the forecast period (2017-2025).
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Among production type, the natural production segment contributes to major market share in terms of volume and value due to bulk availability of natural raw materials and higher product yield than the chemical segment. Natural vanillin production is expected to retain its dominance over chemical production during the forecast period (2017-2025).
Among vanillin type, the ethyl vanillin segment is the leading segment in terms of volume followed by methyl vanillin segment. As ethyl vanillin is a stronger agent than methyl vanillin.
Among end use, the food segment holds the highest market share in terms of volume and value, followed by the pharmaceutical segment due to increased urbanization, rising consumer food demand coupled with health awareness.
Global Vanillin Market Outlook
Asia Pacific holds a dominant position in the global vanillin market in terms of revenue in 2016 and is expected to retain its dominance throughout the forecast period. Europe is the second largest region to contribute in global vanillin market growth, followed by North America. Owing to the presence of a large number of food and pharmaceuticals units, significant growth is expected in Europe during the forecast period.
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Key Players in Global Vanillin Market
Some of the key players operating in the global vanillin market are Evolva Holding SA, Solvay SA, Borregaard, Jiaxing Zhonghua Chemical Industry Co., Ltd., Virginia Dare, Shanghai Xinjia, Watkins Natural Gourmet, Zibo Svolei, Liaoning Shixing, Synnova Chemicals, and Prinova Group LLC. In 2013, International Flavors & Fragrances partnered with Evolva Holding for the production of biotechnology-based vanillin. In 2016, Evolva Holding increased its production capacity that helped them to establish a strong foothold in the market.
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