The global vanilla market is poised to grow by USD 219.7 million during 2019-2023, progressing at a CAGR of over 4% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global vanilla market 2019-2023. (Graphic: Business Wire)
Read the 107-page research report with TOC on "Vanilla Market Analysis Report by Application (Food and beverages, and Pharmaceuticals and cosmetics), by Geography (North America, APAC, Europe, South America, and MEA), and Segment Forecasts, 2019 – 2023."
https://www.technavio.com/report/global-vanilla-market-industry-analysis
The market is driven by the health benefits of vanilla. In addition, the increasing application of vanilla in cosmetics as well as the food and beverages industries is anticipated to positively impact the growth of the global market.
The antioxidants and antibacterial properties of vanilla makes it suitable for skin cleansing and treating damaged skin, pimples, and acne. It is beneficial for both men and women as it regulates menstruation cycles in women and helps in curing impotence and boosts testosterone levels in men. It is also used as an aphrodisiac and is known to alleviate anxiety disorders and depression. These benefits associated with the regular consumption of vanilla are expected to boost its demand among consumers and result in the expansion of the market size throughout the next five years.
Vanilla is also widely used in the food and beverages industry as a critical ingredient in the preparation of jellies, jams, spreads, and syrups. Due to the presence of antioxidants which help in skin rejuvenation and prevent skin sagging, they are increasingly being used in the preparation of cosmetics such as lipstick and skin care products. Thus, the increasing applications of vanilla in the cosmetics industry along with its traditional use in the food and beverages sector will positively impact market growth.
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Major Five Vanilla Market Companies:
Frontier Co-op
Frontier Co-op operates its business under the segment, Food products. The company offers food products such as spices and seasonings, herbs and teas, dried fruits and vegetables, soup and gravy, and others. Frontier Co-op offers vanilla extracts under the brand name, Simply Organic.
MacTaggart's Brand
MacTaggart's Brand operates its business under four segments, which include vanilla, cocoa, chocolate, and cacao. The company offers vanilla extract, vanilla sugar, and vanilla paste under the brand name, MacTaggart's Brand.
McCormick & Company
McCormick & Company has business operations under two segments, namely the consumer segment and the flavor solutions segment. The company offers vanilla extracts under the brand name, MCCORMICK.
Nielsen-Massey Vanillas
Nielsen-Massey Vanillas operates its business under four segments, which include vanilla extracts; paste, powder, and sugar; whole beans; and flavors. The company offers vanilla products such as vanilla powder, vanilla sugar, and others under the brand name, Nielsen-Massey.
Touton
Touton operates its businesses under segments: cocoa, coffee, spices and ingredients, and vanilla. The company offers vanilla extracts, vanilla powder, vanilla seeds, and other vanilla products under the brand name, Touton.
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Vanilla Application Outlook (Revenue, USD Million, 2019 - 2023)
- Food and beverages
- Pharmaceuticals and cosmetics
Vanilla Regional Outlook (Revenue, USD Million, 2019 - 2023)
- APAC
- Europe
- MEA
- North America
- South America
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