Global Bio Vanillin Market - 2022-2029

Global Bio Vanillin Market - 2022-2029

Market Overview

Bio Vanillin Market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Bio vanillin is a mixture of essence and flavour extracted from vanilla seed pods and used a flavouring agent in the food and beverages sector. Bio vanillin is used in flavorings, perfumes, pharmaceuticals and foods. Bio-vanillin has significant advantages, including fulfilling the needs of modern consumer trends by being considered natural and supporting industrial production due to the lack of toxicity and its alternative use of industrial wastes. It is majorly used in chemical synthesis, vegetable biosynthesis, and biotechnological processes. The increasing demand for natural flavors like bio vanillin is due to rising consumer awareness about the negative health impact of artificial flavors in food items, which is the key factor in increasing the market growth.

Market Dynamics: Increasing demand for bio vanillin in food and beverages industry drives the market growth

Increasing demand for bio vanillin in the food and beverages industry drives market growth. Bio vanillin help to increase the aroma and shelf life of the product. Therefore, increasing demand for natural ingredients due to rising consumers awareness about the negative health impact of artificial flavors present in food items represents one of the key factors influencing the market positively. It can also be attributed to the introduction of stringent regulatory policies regarding the clean labeling of food products. Bio vanillin is one of the safest ingredients in the food and beverage industry with no side effects. It enhances the taste of food products without changing the product's nutritional value. Growing consumer preference for high nutritional and bio-based food products, especially in developed economies, drives the market growth.

Moreover, the application of bio vanillin in the pharmaceutical industry for flavoring ingredients in processing various medicines to eliminate odor and foul taste drives the market growth. It is also used as an intermediate during processing pharmaceuticals such as therapeutic drugs for cancer treatment and in topical cosmetic lotions. Rising health awareness among consumers in developing countries such as China and India, among others, is expected to boost the consumption of pharmaceuticals. Bio vanillin is a chemical intermediate producing medicines and syrups for adults and children. Besides this, bio vanillin is colorless and has a wide pH range, thermal stability and aromatic properties. Hence, it is gaining traction as a natural perfume in the cosmetics and personal care industries.

Market Segmentation: Rice bran segment accounted for the highest share in global bio vanillin market

In 2021, rice bran had the highest revenue share of over XX percent. New technology inventions in the production of bio vanillin from rice bran increase the demand of the segment. Ferulic acid is prepared from the waste material of ran rice oil into vanillin and was developed by a combination of fungal strains Aspergillus niger CGMCC0774 and Pycnoporus cinnabarinus CGMCC1115. The research explored local bacterial isolates for vanillin production using rice bran oil waste residues. After screening different bacterial isolates, a novel strain, Enterobacter hormaechei showed significant vanillin production when inoculated in rice bran-based media waste residues.

Food and beverage industry is expected to hold a significant share of XX% in the year 2021. Increasing application of bio vanillin in the food and beverage industry helps the segment to grow. Bio vanillin offers a delightful fragrance and causes minimal or no damage to human health. It has a wide application range in the food and beverage industry. Natural labeling of foods by the food authorities of various regions has propelled the demand for bio vanillin in the food industry.

Geographical Penetration: Europe is the dominating region during the forecast period

In 2021, Europe had the highest revenue share of almost XX percent. The surge in demand for confectionery in Europe helps to increase the market share. Also, the growth of the flavor and fragrance industry will facilitate the bio vanillin market growth in Europe over the forecast period. Regulatory guidelines for the natural product have been crucial driving factors of growth for the bio vanillin market in this region. The wide popularity of bio vanillin as a premium ingredient in the food and pharmaceuticals industry also stoked sales in the Europe bio vanillin market. They are increasing chemical and pharmaceutical units in the region.

In addition, Brazil is expected to witness significant gain in the bio vanillin market. A solid spotlight on utilizing good products from biomass combined with environmental measures to control GHG emissions are key influencing factors driving Brazil bio vanillin demand. Increasing consumer demand for natural & organic ingredients over synthetic ones for product formulations may drive the market.

Moreover, Asia Pacific is expected to grow with a significant CAGR of XX% during the forecast period. In July 2017, one of the leading vanillin producers, Camlin Fine Sciences Ltd, acquired a 51% stake in Ningbo Wanglong Flavors and Fragrances Company Limited (China) and gained a leading position among the vanillin producers in the Asia Pacific market.

Competitive Landscape:

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major market players are Evolva Holding SA, Solvay SA, Camlin Fine Sciences Ltd., Ennloys, Prinova Group LLC, Conagen, Inc., Apple Flavor & Fragrance Group Co., Ltd. and others. Some of the major companies increased their production capacity. For instance, in Dec 2019, Solvay doubled its capacity of natural vanillin in France. The company made both synthetic and natural vanillin. Also, in May 2022, Solvay invested in the Suanfarma Cipan manufacturing site in Lisbon to boost natural vanillin growth. This investment helps to develop natural ingredients for food, flavors and fragrance markets. Some major key players signed agreements, mergers and collaboration strategies with other key players to expand their business. For instance, in March 2020, Evolva entered a new collaboration agreement with International Flavors & Fragrances. IFF expanded the commercialization of the product, and Evolva will be responsible for further developing vanillin.

COVID-19 Impact: Negative impact on the global bio vanillin market

The outbreak of Covid 19 had a significant impact on the food service industry. Sales of bio vanillin suffered the most during the Covid- 19 pandemic due to the closing of specialized stores and other sales channels. Covid 19 badly affected the production of Bio vanillin due to the unavailability of raw material and interruption of transportation. During a pandemic, import and export of the product are completely closed due to the government's strict regulation. Bio vanillin has the highest demand in the food and beverage sector, which is completely closed during a pandemic, so the demand is completely decreased. Also, the bio vanillin extract manufacturers stopped production due to a lack of raw material and transportation interruption due to strict government regulations

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