The "Vanilla Bean Market - Growth, Trends and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global vanilla bean market is projected to record a CAGR of 3.9% during the forecast period (2020-2025).
Vanilla bean due to the anti-oxidant properties and anti-carcinogenic properties is widely used in food and beverage, cosmetics, and pharmaceutical industry. North America has experienced a rise in demand for vanilla-flavored food, ice creams, cosmetics, and pharmaceuticals which is driving the market of vanilla beans.
Owing to the increasing population and demand for flavored food and beverages is been increasing, eventually driving the market growth. According to the Food and Agriculture Organization (FAO), in 2016 the vanilla production was 7,278 tons which increased to 7,575 in 2018. Vanilla is majorly produced in countries like Madagascar, followed by countries like Indonesia, Mexico, China, while the United States France and Germany being the major importer of vanilla.
Key Market Trends
Application in Food and Pharmaceutical Industry is Driving the Market
Vanilla is widely used in the food and beverage industry as a flavoring ingredient in the preparation of jellies, jams, and syrups. The antioxidants and antibacterial properties of vanilla make it suitable for skin cleansing and treating damaged skin related problems. It is also known to alleviate anxiety disorders and depression. These benefits associated with the consumption of vanilla are expected to boost the demand among consumers.
Vanilla possesses anti-oxidant properties and anti-carcinogenic properties due to which it is widely used in the pharmaceutical industry. Vanillin, which is a flavorful constituent of vanilla pods, is used as flavonoid to foods and beverages, pharmaceuticals, and cosmetics. Owing to the increasing demand for vanilla in the pharmaceutical industry due to its anti-oxidant and anti-carcinogenic properties, the vanilla beans market is projected to grow during the forecast period. Due to these factors, demand for vanilla is growing across the globe, thus impacting the vanilla bean trade positively.
Africa Dominates the Global Industry
Due to the fact that vanilla production is highly labor-intensive in nature, countries with the lowest labor costs are favored. According to FAO, Madagascar in 2018 produced 3,102 tons of vanilla. Countries with low growth rates, like Uganda, who produced 150 tons of vanilla in 2018, will have a long-term labor cost advantage within the vanilla market leading to increasingly better production and rankings.
Madagascar remains a top producer of vanilla in the world because of its major advantage over the labor force component, which is found within the agricultural sector. Comoros is also a prospect to be a major producer of vanilla in the African region. It is estimated that at least 70% of the working population active in Comoros's rural areas is involved in vanilla production. Some of the other countries producing vanilla are Indonesia, Mexico Guinea, and China.
Key Topics Covered
1.1 Study Assumptions & Market definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.4 Market Restraints
4.5 Value Chain Analysis
5 MARKET SEGMENTATION
5.1.1 United States
22.214.171.124 Production Analysis
126.96.36.199 Consumption Analysis and Market Value
188.8.131.52 Import Market Analysis (Value and Volume)
184.108.40.206 Export Market Analysis (Value and Volume)
220.127.116.11 Price Trend Analysis
5.1.11 Papua New Guinea
6 MARKET OPPORTUNITIES AND FUTURE TRENDS
7 IMPACT OF COVID-19
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