Bio Vanillin Market size shall reach a value of $13.3 Million in 2027, growing with a CAGR of 6.67% during the forecast period of 2020 to 2027.
Bio Vanillin is manufactured from plant-based feedstock. The fermentation process with a suitable acid and Eugenol is applied. The acid used is derived from rice, wheat, and maize. Some availability is also found in fruits such as oranges, peanuts, and artichokes.
Analysis by Application
According to the application, Bio Vanillin can be categorized into the following segments: Food & Beverages, Fragrances, and Pharmaceuticals.
The Food & Beverage division will lead the market capitalization of this product. This is because of the wide plethora of uses by the manufacturers for food colors and flavors. Advancements will be on the rise in the period which will result in further accelerated demand.
The modern consumer is preferring natural additives in their foods. In this context, Bio Vanillin is coming up the demand curve in a large way. Major Consumer Packaged Goods companies are roping in their supply chain with natural Vanillin.
The rise in per capita incomes will fuel the demand for fragrances. Natural Vanillin has a major use in this segment as well. A significant section of the customers are tending towards products with Bio Vanillin. This affinity is expected to rise further in the forecasted period.
Analysis by Region
North America will continue to be a lucrative market for this product. The main demand-center will be the USA where the growth rate is estimated to be in double-digits. Often, this product is positioned as premium in its space which includes foods, drinks, and fragrances. Additionally, brewery businesses are also being established. These are another very potent source of industry growth.
Over on the other side of the globe, the European Union will also experience rapid demand surge in the forecasted period. Here, Germany will lead with the largest quantum of trade. It has nearly one-fifth of the total market capitalization of Europe. The governments in this region are focusing on utilizing Biomass to counter climate change and Green House Gas emissions. This will boost Bio Vanillin sales even further. Similar to the USA, consumer demands for environmentally responsible products is gaining popularity. To that dynamic, Bio Vanillin will do very well in cementing a space for itself in this geography.
The scenario in Asia-Pacific is different. The Food and Beverage industry has seen tremendous growth in India and China. However, synthetic vanillin dominates the market here. The consumer packaged goods will continue to rise in throughput. But the demand is being met by Synthetic Vanillin instead due to widespread availability of raw materials and lower manufacturing cost in comparison to Bio Vanillin. The governments’ regulatory norms are also relaxed and this results in larger consumption of Synthetic products.
On similar lines, the Middle East will also witness fairly large demand owing to the growth of confectionaries. The same is true for Ice-Creams in the GCC region.
Analysis by Market
Key players in this space are Ennloys, Evolva, Solvay, and Apple Flavor & Fragrance Group.
As of now, the industry is in its nascent stage. Thus, a lot of capital investments are required to get the product off of the runway. Thus, to better cater to this, collaborations and partnerships will be the way forward to success. As companies discover better products, patents and intellectual property claims will result in the creation of sustained competitive advantage. Other industries in this domain that are growing at a high CAGR include Biocontrol Agents Market and Biogas Market.
COVERAGE HIGHLIGHTS
● Market Revenue Estimation and Forecast (2019 – 2026)
● Market Production Estimation and Forecast (2019 – 2026)
● Market Sales/Consumption Volume Estimation and Forecast (2019 – 2026)
● Breakdown of Revenue by Segments (2019 – 2026)
● Breakdown of Production by Segments (2019 – 2026)
● Breakdown of Sales Volume by Segments (2019 – 2026)
● Gross Margin and Profitability Analysis of Companies
● Business Trend and Expansion Analysis
● Import and Export Analysis
● Regional Analysis and Market Data Breakdown
MARKET SEGMENTATION
By Application Outlook ($Revenue and Unit Sales, 2019-2026)
• Food & Beverage
• Ice Cream
• Chocolate
• Confectionaries & Baked Goods
• Fragrances
• Pharmaceuticals
By Regional Outlook ($Revenue and Unit Sales, 2019-2026)
• U.S.
• Canada
• Mexico
• Germany
• UK
• France
• Italy
• Spain
• China
• India
• Japan
• Australia
• South Korea
• South Africa
• GCC
• Brazil
Market Players
• Evolva
• Solvay
• De Monchy Aromatics
• Advanced Biotech
• Omega Ingredients Ltd.
• Ennolys
• Comax Flavors
• Beijing LYS Chemicals Co. Ltd.
• Alfrebro, LLC
• Aurochemicals
• Axxence Aromatic GmbH
• Berje Inc.
• Champon Vanilla Inc.
• Moellhausen S.p.A
• Borregaard
• Jiaxing Zhonghua Chemical Co. Ltd.
• Shanghai Xinjia Perfume Co. Ltd
• Zibo Svolei Fragrance Co. Ltd.
• Liaoning Shixing Pharmaceutical & Chemical Co. Ltd.
• Jiaxing Zhonghua Chemical Co. Ltd.
• Bozera Limited
• Takasago International Corporation
• Suzhou Function Group Co. Ltd.
• Xiamen Bestally Biotechnology Co. Ltd.
• Apple Flavor & Fragance Group Co. Ltd.
• Kunshan Asia Essence Daily Aroma Co. Ltd
• Asia Aroma
• Shenzen Xinboda Industrial Co. Ltd
