Vanilla Extract Market Size Worth $6.5 Billion By 2030 | CAGR: 3.55%

The global vanilla extract market size is expected to reach USD 6.5 billion by 2030, according to a new study by Polaris Market Research. The report “Vanilla Extract Market Share, Size, Trends, Industry Analysis Report, By Source; By Application (Food & Beverages, Cosmetics, Pharmaceuticals); By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global market for flavorings is incredibly competitive for vanilla extract. Vanilla is a flavor often used in beverages, dairy products, baked goods, and other products in the food business. However, it also has a number of applications in the pharmaceutical and cosmetics industries. The most popular flavour in the world, vanilla, is made from the pods of the orchid Vanilla plan folia. Although there are over 200 different compounds, vanillin is the main source of its distinctive flavor and scent. Although its widespread use in flavor and aroma is significant, there haven't been many studies to assess its bioactive potential.

A few studies have also revealed a promising range of bioactivities that could be employed in a variety of therapeutic situations. We have included the potential bioactivities of vanillin and its derivative in order to change the emphasis from being a common flavor to a cutting-edge medicinal molecule.

According to a research paper released in 2021 by Sagar S. Arya et al., vanilla possesses a number of biological capabilities, including anticancer, neuroprotective, antibiotic potentiation, and anti-quorum sensing, in addition to flavor and aroma recognition. The biological effects of vanillin and its synthetic substitutes, which regulate gene expression, have also been found.

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According to Paula's Choice, LLC, the properties of vanilla extract as an antioxidant make it a popular ingredient in skincare products. In cosmetic goods, it serves as a calming ingredient for the skin. To generate a pleasing flavor, it is used in lipsticks, glosses, and lip balms. Additionally, it is utilized in bath care items, creams, and lotions. It functions as a cosmetics ingredient and assists in scavenging free radicals and preventing skin damage. The cosmetics sector is seeing a rise in demand for vanilla extract because of all these advantages.

The COVID-19 pandemic produced global supply restrictions on all commodities, which disrupted the supply chain and prevented many products from getting to the end customers. This has also led to a decrease in the supply of components and completed goods, which affects the market for ingredients as a whole, including the market for vanilla extract, which experienced below-average development in 2020. Food and beverage sales have increased due to more people cooking at home since the COVID-19 outbreak.

Vanilla Extract Market Report Highlights

• In 2021, the Madagascar segment is expected to hold a sizable market share. In the spice industry, Madagascar vanilla beans, farmed there, are regarded as the highest-quality beans available.
• In 2021, the food & beverage segment will dominate the market. In various forms, vanilla extract and beans are mostly employed in the food and beverage industry.
• In 2021, the global market will be dominated by the Asia-Pacific region. Due to the region's developing food, beverage, and pharmaceutical production industries, Asia Pacific currently controls a large percentage of the global market for vanilla extract.
• The global players with a global presence include Adams Extract, David Michael & Co., C.F. Sauer Company, and Spice Jungle.

Polaris Market Research has segmented the vanilla extract market report based on source, application, and region:

Vanilla Extract, Source Outlook (Revenue - USD Billion, 2018 - 2030)

• Madagascar Vanilla
• Mexican Vanilla
• Indonesian Vanilla
• Others

Vanilla Extract, Application Outlook (Revenue - USD Billion, 2018 - 2030)

• Food & Beverages
• Cosmetics
• Pharmaceuticals

Vanilla Extract, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa