Vanilla Bean Market Overview
Vanilla Bean Market size is forecast to reach $637.8 million by 2026, growing
at a CAGR of 5.1% during the forecast period
Report Coverage
The report: “Vanilla Bean Market Forecast
(2021-2026)”, by Industry ARC, covers an in-depth analysis of the following
segments of the Vanilla Bean Scenario Market.
By Type: Raw, and Processed.
By Nature: Organic, and Conventional.
By Grade: Grade A, and Grade B.
By End-User: Food, Beverages, Cosmetic & Personal Care, Pharmaceuticals,
and Others.
By Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom
(U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China,
Japan, India, South Korea, Australia, and New Zealand, and Rest of Asia
Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest
of the World (Middle East, and Africa).
Key Takeaways
- North America dominated the Vanilla Bean Market in 2020 owing to the increasing demand for convenience food and increasing awareness regarding health benefits of vanilla beans. The Vanilla Bean Market scope for different regions will be provided in the final report.
- Increasing demand for food additives and increasing consumer inclination towards healthy diets are likely to aid the market growth of the Vanilla Bean Market report.
- Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Vanilla Bean Market report.
- Presence of high sugar content and availability of substitute products is poised to create the hurdles for the Vanilla Bean Market.
Vanilla Bean Market Revenue Share, By Geography, 2020(%)
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Vanilla Bean Market Analysis – By Type
Raw held the largest
share in the
Vanilla
Bean Market in 2020 and is
estimated to grow at a CAGR 5.5% during the forecast period
Vanilla Bean Market Analysis – By End Users
Food & Beverages held the largest
share in the
Vanilla
Bean Market in 2020 and is
estimated to grow at a CAGR 5.9% during the forecast period
Vanilla Bean Market Analysis – By Geography
North America dominated the Vanilla Bean Market with a major share of 33.7% in 2020. This is owing to the increasing
consumption of western food products and increasing shift among consumers
towards the chemical free food products. Increasing utilization of the vanilla
in food products and increasing consumption of baked goods is also increasing
the growth of the market during the region.
However, Asia Pacific is estimated to grow at a higher CAGR during the
forecast period
Vanilla Bean Market Drivers
Increasing Utilization of Vanilla in Food Products as an Enhancer
Increasing utilization of vanilla in food products is increasing the
growth of the Vanilla Bean Market. Vanilla is used as a
sweet flavor in ice cream, confectionary, baking, beverages, and other dairy
products. It is also used as a flavor enhancer and the addition of vanilla to hot
& spicy food, smoothes & balances the overall flavor. Vanilla is also
used as a versatile flavor in dishes such as sweet potato, yam, butternut
squash, and other dishes. It is a good substitute to several fruit flavored
iced creams, baked goods, and beverages. Increasing trend for natural and
health awareness among consumers is also increasing the growth of the market. Thus,
increasing the growth of the Market during the forecast period
Increasing Inclination of the Consumers towards the Food that Does Not Contain Artificial & Chemical Ingredients
Increasing
Inclination of the Consumers towards the Food that Does Not Contain Artificial
& Chemical Ingredients is increasing the growth of the Vanilla Bean Market. This is owing to the fact that vanilla possess anti-oxidant
and anti-carcinogenic properties and is used widely in the pharmaceutical
industries. Vanilla flavor improves the texture and aroma of the food that has
increased the sale of vanilla flavoured food products in the market. Vanilla
also removes the nausea feeling but the price of the natural vanillin is
extremely expensive. It is almost 300 times higher than the price of the
synthetic vanilla. Thus, increasing the growth of the Market during the
forecast period
Vanilla Bean Market Challenges
Presence of High Sugar Content and Availability of Substitute Products
Some of the factors that are set to impede the growth of the Vanilla Bean Market are the presence of high sugar content and the increasing availability of
substitute products. High sugar content is used as an artificial sweetener. The
demand of natural vanilla beans is decreasing owing to the challenging
growing conditions, deforestation in Madagascar, and labor exploitation.
Increasing variation in the prices, inadequate supply of the products,
increasing concerns over the quality of the products and the increasing
probability of the unbalanced supply chain is also set to hinder the growth of
the market during the forecast period
Vanilla Bean Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D
activities are key strategies adopted by players in the Vanilla Bean Market. In 2020, the Vanilla Bean Market share is consolidated by the top ten players present in the market. The Vanilla Bean Market,
top 10 companies are –
- Tharakan & Company
- Vanilla Food Company
- Amadeus Vanilla Bean
- Boston Vanilla Bean Company
- Nielsen Massey Vanillas
- Agro Products Agencies
- Frontier Natural Products
- Touton SA
- Madagascar Vanilla Company
- Symrise AG
Acquisitions/Product Launches
- In March 2019, Amadeus Vanilla Bean launched Bourbon vanilla beans (vanilla planifolia) as the most popular variety of the vanilla beans.
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LIST OF TABLES
LIST OF FIGURES
1.US Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)2.Canada Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
3.Mexico Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
4.Brazil Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
5.Argentina Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
6.Peru Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
7.Colombia Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
8.Chile Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
9.Rest of South America Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
10.UK Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
11.Germany Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
12.France Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
13.Italy Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
14.Spain Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
15.Rest of Europe Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
16.China Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
17.India Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
18.Japan Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
19.South Korea Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
20.South Africa Vanilla Bean Production Scenario Market Revenue, 2023-2030 ($M)
21.North America Vanilla Bean Production Scenario By Application
22.South America Vanilla Bean Production Scenario By Application
23.Europe Vanilla Bean Production Scenario By Application
24.APAC Vanilla Bean Production Scenario By Application
25.MENA Vanilla Bean Production Scenario By Application
26.Competition Landscape, Sales /Revenue, 2015-2018 ($Mn/$Bn)