The Business Research Company’s report on the Vanilla Extract Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the vanilla extract market in recent years?
The increasing consumption of bakery products is expected to boost the growth of the vanilla extract market going forward. Bakery products refer to a wide range of items that use wheat flour to produce various final bakery-related products. Vanilla extract is a popular ingredient in bakery products, adding a rich, nuanced flavor characterized by notes of caramel, cream, and floral undertones. For instance, in February 2024, according to the Agriculture and Horticulture Development Board, a UK-based levy board funded by farmers and growers, overall, baking occasions increased by 1% (13 million occasions) in 2023 versus 2022. Chocolate cake was the star contributor, with an impressive increase of 11 million occasions (+63%) between 2022 and 2023. Further, in October 2022, according to stats sourced from Euromonitor International, 2022 published on the Government of Canada’s official website, retail sales of baked goods in the US reached $67.9 billion in 2021 and are expected to reach US$75.8 billion in 2026. Therefore, the increasing consumption of bakery products is driving the growth of the bakery contract manufacturing market.
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What is the projected market size of the vanilla extract industry, and how is it expected to grow?
The vanilla extract market size has grown steadily in recent years. It will grow from$5.18 billion in 2024 to $5.42 billion in 2025 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to traditional culinary use, growing food and beverage industry, consumer preference for natural flavors, rising disposable income, bakery and confectionery boom
The vanilla extract market size is expected to see steady growth in the next few years. It will grow to “$6.4 billion in 2029 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to increased application in non-food products, health and wellness trends, sustainable sourcing practices, expanding artisanal and craft markets, innovations in extraction processes. Major trends in the forecast period include increasing demand for natural and organic products, fluctuations in vanilla bean prices, sustainable and ethical sourcing practices, stringent quality standards and certifications, bakery and confectionery boom.
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Who are the key players driving competition in the vanilla extract market?
Major companies operating in the vanilla extract market include Adams Extract & Spice LLC, C.F. Sauer Company, McCormick & Company Incorporated, Frontier Co-op, Beyond Good LLC, Nielsen-Massey Vanillas Inc., The J.R. Watkins Co., Eurovanille SAS, Firmenich SA., Symrise Pvt. Ltd., Lochhead Manufacturing Company, OliveNation LLC, Wilton Brands LLC, Great Value Inc., Prova Inc., Naturalight Foods Inc., Cook Flavoring Company, Castella Imports Inc., Herbal Creative LLC, Shanks Extracts Inc., Heilala Vanilla Limited, Steenbergs Organic Ltd., LorAnn Oils Inc., Tharakan and Company, Synergy Flavors Inc., The Vanilla Company, Sonoma Syrup Co., Blue Cattle Truck Trading Co., Silver Cloud Estates LLC, Rodelle Inc.
What key trends are expected to drive the vaginitis therapeutics market during the forecast period?
Major companies operating in the vanilla extract market are focused on developing high-quality products such as premium flavoring agents to meet the growing consumer demand for natural ingredients and to enhance the flavor profiles of culinary creations across various applications. Premium flavoring agents are high-quality, concentrated substances derived from natural sources that enhance the taste and aroma of food and beverages, providing authentic and rich flavor experiences. For instance, in May 2023, Urban Vanilla Farm, a Costa Rica-based sustainable organic spice farm, launched its line of authentic vanilla extract and vanilla syrup products. The new offerings are made from hand-picked, sustainably grown vanilla beans, ensuring a rich and flavorful experience for consumers. By providing premium-quality vanilla extract and syrup, Urban Vanilla Farm aims to set a standard in the market, appealing to chefs and home cooks who prioritize authentic flavors in their culinary creations. This launch addresses the increasing consumer interest in natural ingredients, reinforcing the company’s commitment to quality and sustainability in the vanilla extract sector.
Which key geographies are driving the growth of the vanilla extract market?
Asia-Pacific was the largest region in the vanilla extract market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global vanilla extract market report during the forecast period. The regions covered in the vanilla extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the key segments driving growth in the vanilla extract market?
The vanilla extract market covered in this report is segmented –
1) By Product Type: Liquid, Powder
2) By Source: Madagascar Vanilla, Mexican Vanilla, Indonesian Vanilla, Other Sources
3) By Nature: Organic, Synthetic
4) By Application: Food And Beverages, Alcoholic Beverages, Dairy Products, Bakery Products, Nutritional Supplements, Pharmaceuticals, Cosmetics
Subsegments:
1) By Liquid: Pure Vanilla Extract, Imitation Vanilla Extract
2) By Powder: Pure Vanilla Powder, Imitation Vanilla Powder
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What defines the structure and scope of the vanilla extract market?
Vanilla extract is a liquid flavor made from a vanilla bean that is cultivated within a pod of an orchid plant. It is obtained from a vanilla bean by immersing it in a combination of water and alcohol, which is then aged for many months to create the extract.
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