Organic Vanilla Market Global Research Report by Application (Food & Beverages, Personal Care Products, Health Care Products) and Region (Africa, Asia, Rest of the World) - Forecast till 2022
Pune, India -- (SBWIRE) -- 10/12/2018 -- Market Overview:
Global Market for Organic Vanilla has witnessed continued demand during the last few years and is projected to reach USD 207 million at a CAGR of 18.24% by 2022. Diverse applications of vanilla in various industries owning to its nutritional value is likely to drive its market globally over the review period. Increasing demand for vanilla based on its application in personal care products and healthcare products is projected to propel the growth of this market. Chemical-free nature of organic vanilla represents stored and sustained medicinal properties, which drive the demand for vanilla in its natural form.
Increasing demand of natural flavoring agent is driving the market growth globally. Increasing health awareness about beneficial properties of vanilla is expected to influence the organic vanilla market, positively. One of the major applications of organic vanilla is for the production of fragrances and perfumes in personal care products. This also contributes to the positive growth of this market. In addition, diverse application of the product across various industries is anticipated to propel the growth of this market
Developing economy and consumers' adoption of sustainable development trends are likely to drive the organic vanilla market share in the countries of the developed regions. Higher inclination of consumes towards chemical-free food ingredients has a positive impact on this market. Technological strides are found to facilitate agricultural productivity is also likely to have a positive impact on its market growth. Based on the application, use of vanilla in food and beverage is expected to witness the highest growth rate on a global level. Personal care based application of organic vanilla will hold a significant share and will also witness a steady growth during the given forecast period. Health care based application of organic vanilla is likely to experience a high growth rate during the given period owning to the medicinal properties of organic vanilla.
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Major Key Players Review:
Key players are focused majorly on acquisition of small players to expand their business and penetrate the global organic vanilla market. Expansion and R & D investments are also the major strategies followed by the players. Expansion will help in capturing the major market and increasing the production capacity to meet the rising demand from consumer's end thereby further contributing to increasing revenue.
The leading market players in the global organic spices and Herbs market primarily are Super Africa Products (Madagascar), Ever Organic (U.S.), The Vanilla Company (U.S.), Nestlé S.A. (Switzerland), General Mills, Inc. (U.S.), Nielsen-Massey Vanillas Inc. (U.S.) and Symrise AG (Germany)
Latest Industry Updates:
Dec 2017 the vanilla situation is getting more terrible by the day in Madagascar. The world's top vanilla producer has been tightly squeezed by a combination of factors, from cyclone damage to increased demand for natural flavoring from food companies. But now, according to an article in the Wall Street Journal, the situation is getting violent
Dec 2017 Key suppliers of vanilla from Madagascar believes, vanilla market will remain unpredictable in upcoming yeas. The cycle of high demand, low supply, and therefore surging vanilla prices can show some instability in upcoming years.
Aug 2017 Top companies like Hershey and Nestle start buying natural vanilla extract in large quantities, it squeezes the supply chain and raises prices for everyone. In the meantime, the vanilla shortage is a valuable reminder of the fragility of international markets, particularly in the face of climate change.
March 2017 the worst tropical cyclone in 13 years to strike Madagascar may push up already record prices for vanilla beans that are used to flavor everything from cafe lattes to ice cream.
The global Organic Vanilla Market has been divided into application and region.
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
On The Basis Of Application: Food & Beverages, Personal Care Products, and Health Care Products
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Among the regions, Africa will dominate the organic vanilla market with the major market share in the year 2017. Production of organic vanilla from rest of the world is projected witness a high growth rate during the given period owning to rising production capacity of organic vanilla in various other region. Major share of organic vanilla is procured from Madagascar which accounts for more than 80% of the global organic vanilla production in the year 2016. Obtaining organic certification or vanilla is a difficult process and hence, even though farmers practice organic farming, they do not opt for organic certification based on lack of awareness and also stringent process.