Vanilla Market : Industry Outlook, Growth Prospects and Key Opportunities


Anjalih

Uploaded on Jun 10, 2021

Transparency Market Research contemplates over the competitive and fragmented market in the global vanilla market. There are many players in the global vanilla market which includes manufacturers and distributors. Some of them include Flavorchem Corporation, Synergy Flavors, Heilala Vanilla Ltd, Neilson-Massey Vanilla Inc, and Lochhead Manufacturing Company. The manufacturers in the global vanilla market are eyeing on adopting new technology to introduce vanilla in powder form at a reasonable price. These players are also adopting new strategies to expand supply chain management and establishing sustainability to gain a competitive edge in the global market. These are some of the major strategies being adopted by the vanilla manufactures and suppliers present in the global vanilla market. They are also venturing into organic vanilla due to increasing demand from aware and health conscious consumers. Vanilla extract is largely used in the food sector in a variety of products. The vanilla flavor is used in cakes, pastries, shakes, smoothies, biscuits, bread, etc. Wide ranges of bakery products are being consumed across the globe. Due to increasing demand, the global vanilla market is likely to grow at a CAGR of 4.7%. The global vanilla market accounted for revenue worth US$510.2 million in 2018 and expected to reach up to 810.8 by the end of forecast period 2018 to 2026. This will lead the global market to astounding growth.

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