Vanillic Acid Market Size, Share & Trends Analysis Report By Application (Pharmaceutical Intermediates, Flavors And Fragrances), By Purity (99%, 98%), By Region, And Segment Forecasts, 2023 - 2030

Vanillic Acid Market Growth & Trends

The global vanillic acid market size is expected to reach USD 23.9 billion by 2030, expanding at 2.2% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing demand from the pharmaceutical industry on account of anticancer, antidiabetic, antioxidant, antimicrobial, and anti-inflammatory properties of vanillic acid, the market anticipated to experience promising growth in the coming years.

Vanillic acid generates diverse bioactivity against cardiovascular, diabetes, cancer, neurodegenerative, obesity, and hepatic diseases by constraining the associated molecular pathways. Its derivatives are also comprised of the therapeutic potential to cure autoimmune diseases as well as bacterial and fungal infections. Further, it is also added to medicines to mask their bitter taste. Such factors are expected to boost the market growth of vanillic acid over the forecast period.

The Asia Pacific is the dominant region for the vanillic acid industry followed by Europe. Growing health awareness and demand for food products are expected to emerge as the key driving factors in this region. Substantial investments in research & development for manufacturing products with good aroma are also contributing to its growth. Additionally, diverse consumer tastes, population expanse, and extensive foreign investments are some of the socio-economic factors supporting market growth.

The key industry contributors operating in the industry include Solvay; Donglian Nankai FlavorDlflavor; and Quzhou Mingfeng Chemical; among others. Continuous research & development activities are carried out by the major players to produce cost-efficient products. Furthermore, product innovations and new product developments are expected to be key parameters to sustain the competitive market, with strategies such as acquisitions, capacity expansion, and partnerships.

Vanillic Acid Market Report Highlights

• Other purity including 97% emerged as the fastest-growing segment due to its reasonable cost and growing utilization as an additive in the food & beverage industry
• The pharmaceutical segment emerged as the fastest-growing segment with a CAGR of more than 3% till 2030. This is mainly due to the surging usage of the product in the formulation of numerous drugs due to its anti-cancer and anti-inflammatory properties
• North America is anticipated to emerge as one of the fastest growing regions due to the growth in end-use industry sectors such as personal care and chemical industries, with a notable presence of end-use producers in the region
• Merck Life Science; Alfa Aesar; Neta Scientific Incorporated are some prominent suppliers of 97% pure vanillic acid

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