Pure Vanilla Market:
Speaking about vanilla, it is one of the common and extensively used food flavoring agents. It is made by a process where the vanilla pods go under the percolation and maceration process in an ethanol and water mixed solution. It is used in different types of bakery products, for example, puddings, ice-creams, cupcakes, yogurt, and more. This is most extensively used in the global culinary industry because of its flavor. Pure Vanilla extract comes with various ingredients that bring it under the expensive product category.
Pure Vanilla also comes with anti-aging properties as it has a sufficient level of anti-oxidants. As it has some essential vitamins, it is quite useful for curing acne, healthy skin, stomach issues, and more. On the other hand, such vanilla is also used to create an essential oil. It has an unobtrusive scent that ca act as a mood lifter. So, the global market for Pure Vanilla is all set to grow during the forecast period. As per the latest market report, the market is expected to reach USD 900 million by the end of 2024.
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On the other side, the Compound Annual Growth Rate is expected to be around 13 percent during the forecast period, i.e., from 2019 to 2024. Pure Vanilla is generally produced without using any chemicals or pesticides. This vanilla market is projected to grow extensively in the coming years owing to the increasing demand for bakery products and desserts due to the rising disposable income level and increasing demand for various process foods. Such type of vanilla is right now experiencing high demand from the global dairy industries.
Market key player:
- Lochhead Manufacturing Co
- Spice Jungle
- Vanilla Queen
- David Michael & Co
- Heilala Vanilla
- Venui Vanilla
- Blue Cattle Truck
- Sonoma Syrup Company
- Hawaiian Vanilla Company
- Singing Dog
Market Segmentation Overview
The Pure Vanilla market is segmented on the basis of product type, applications, and region. On the basis of product type, it is split into paste, powder, and extract. Among these product types, the vanilla extract segment is anticipated to grow at the highest CAGR rate and dominate the market. The reason is vanilla extracts can be used in different types of products as per the requirements. Now, based on application, the market is divided into pharma, cosmetic, retail, food service, and others. The segment that is expected to grow at a steady rate is food service, as this is widely used in various bakery products.
Geographical Market Segmentation Analysis
The global Pure Vanilla market, based on region, is segmented into five major regions. These are Europe (Western Europe and Eastern Europe), the Middle East and Africa, Latin America, North America, and the Asia Pacific. The market is further segmented into different countries. They are India, China, Southeast Asia, Korea, Brazil, Italy, France, the UK, Germany, Egypt, Russia, Japan, the US, North and South Africa, UAE, Saudi Arabia, and more. In this report, it is forecasted that Europe’s regional market is expected to dominate the global Pure Vanilla market in the coming years. Rising demand for organic flavored products, personal care goods, and more. Besides, North America may also emerge as the fastest-growing market.
Recently, Lochhead Manufacturing Company informed that it would soon launch its superior-quality Pure Vanilla liquid and extracts. The company informed that the extract is quite a complex flavor and combines around 300 individual components. Lochhead Manufacturing Company produces both double strength and single strength vanilla extracts. The company is now planning to expand its business to other countries.
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