Oleoresins
are increasingly used as flavoring agents in food processing across
the globe. Individuals are attracted towards different flavored foods
as they have developed taste buds for different flavors, owing to
which demand for flavoring agents is increasing. Vanilla oleoresins
are extensively used in sensual blends and is well known for its warm
and inviting scent. Vanilla oleoresins are also known for its stress
reducing effects, possess anti-oxidants, and are also assumed to
exhibit aphrodisiac effects. Owing to its extensive use in food
flavoring, cosmetics use etc., vanilla oleoresin market is expected
to expand with significant CAGR over the forecast period. Vanilla is
originated from Madagascar and Latin American countries, ended up
spreading across the globe. Indonesia is one of the prominent grower
of vanilla across the globe now.
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Vanilla
oleoresin has been used extensively in food and beverage flavorings,
cosmetics and perfumes, pharmaceuticals etc. which is expected to
fuel the growth of vanilla oleoresin market.
Vanilla
Oleoresin Market: Segmentation
Vanilla
oleoresin market can be segmented on the basis of nature, end-use
applications and region.
On
the basis of nature, vanilla oleoresin market can be segmented into
conventional and organic. Organic segment is expected to expand with
significant CAGR as demand for organic products is increasing among
consumers.
Vanilla
oleoresin market can be further segmented on the basis of end-use
application into pharmaceuticals, food and beverages, cosmetics and
personal care and others. Food and beverage is further sub-segmented
into beverages, bakery and confectionery, jams, desserts and
ice-creams, syrups etc.
On
the basis of region, Vanilla oleoresin market can be segmented into
five key regions: North America, Latin America, Europe, Asia Pacific,
and Middle East and Africa.
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Vanilla
Oleoresin Market: Drivers, Restraints, and Trends
Owing
to developed taste for vanilla among individuals across the globe,
vanilla oleoresin market is expected to grow in terms of revenue
across the globe. Vanilla oleoresins have wide range of benefits,
which is expected to fuel growth of the market. Individuals are
getting health conscious and inclined to consume natural food
products, which will expand the vanilla extract market over the
forecast period. Increasing demand for vanilla flavors in fragrances,
toiletries etc. is also expected to expand the vanilla oleoresin
market.
Weak
distribution channel in some of the untapped markets is expected to
hamper the sales of vanilla oleoresins, which could be considered as
a restraint for vanilla oleoresin market. Vanilla is trending across
the globe as people are inclined towards the taste of vanilla and
this trend is expected to continue over the forecast period.
Vanilla
Oleoresin Market: Regional Outlook
Depending
on the geographic regions, global Vanilla oleoresin market is
segmented into five key regions: North America, Latin America,
Europe, APAC, and MEA.
In
terms of consumption, North America holds the largest share of
Vanilla oleoresin market followed by Europe which also possess a
large Vanilla oleoresin market. Latin America comes after North
America in terms of consumption.
Asia
Pacific Vanilla oleoresin market is expected to grow at significant
rate in terms of consumption during the forecast period because
people getting aware of benefits of vanilla and increasingly
developing the taste for the same. The Middle East and Africa is
expected to grow in the forecast period as disposable income is
increasing in the region.
Population
around the globe is developing the taste for vanilla which is
expected to increase the sales for vanilla oleoresin market over the
forecast period.
Vanilla
Oleoresin Market: Key Players
Some
of the prominent manufacturers of Vanilla oleoresin are Edens Garden,
Haldin, Lemur International Inc., Advanced Biotech, Flavorchem Corp.,
and other regional players.
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