This report provides exclusive insights into the COVID-19 impact on the Bio-vanillin Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Bio-vanillin Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Bio-vanillin Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on the bio-vanillin market provides an in-depth analysis of segments and sub-segments in the global as well as the regional bio-vanillin market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional bio-vanillin market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global bio-vanillin market. According to the report, the global bio-vanillin market is projected to grow at a CAGR of 7.7% over the forecast period of 2018-2024.
Bio- vanillin is the vanillin produced from natural resources of bio-based materials. Bio-vanillin is one of the widely used flavor compounds in the foods, beverages and pharmaceutical industries Vanillin is a phenolic aldehyde, which is an organic compound with the molecular formula C8H8O3 that is extracted from the bean or pod of the tropical orchid vanilla. Synthetic vanillin is produced from lignin-rich wastes and petrochemical raw material guaiacol. However, less than 1% of the worldwide production of vanillin comes from natural vanilla owing to the high and variable cost of natural vanillin as well as the limited availability of vanilla pods in the market. Bio-vanillin is used as a substitute for natural vanillin and synthetic vanillin as a food flavor. It is produced commercially from microbial bioconversion of freely available ferulic acid derived from enzymatic hydrolysis of rice and wheat bran.
The increased demand for natural and healthy flavors is the major driving factor for the growth of the bio-vanillin market. Bio vanillin is a natural substitute for synthetic vanillin as it contains low calories and various antioxidants and keeps the nutritional value of the food unaltered. It is used in the production of food and beverages industry without the risk of side effects. Bio-vanillin is used in pharmaceutical industry as a flavoring ingredient in the processing of various medicines for eliminating odor and foul taste. Furthermore, the production of bio vanillin through biotechnological processes involves reduced emission of greenhouse gasses and a lesser amount of toxic by-products, as compared to synthetically produced vanillin. Thus, increasing environmental concerns is anticipated to fuel the growth of the global bio vanillin market during the forecast period. However, the low awareness about its health benefits and the prevalence of synthetic vanillin restrains the growth of the bio-vanillin market. Moreover, the shifting trend towards bio-based products is increasing majorly owing to the health benefits and avoidance of chemical usage will propel the growth of the bio-vanillin market.
Among the geographies, Europe remains the dominant region in the bio-vanillin market owing to the increased awareness about the ill effects of consuming artificial flavors and shift to organic ingredients. The Asia Pacific will be the fastest growing region owing to the rise of food and beverage in this region. The potential demand for natural ingredients in food and beverages has increased owing to the changing preferences of the consumers towards a safe and healthy lifestyle that will drive the growth of the bio-vanillin market in this region during the forecast period.
The report on global bio-vanillin market covers segments such as end-user industry. On the basis of end-user industry, the global bio-vanillin market is categorized into pharmaceuticals, and food & beverage.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer substantial potential for the growth in the bio-vanillin market. As a result, the APAC region is projected to experience growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global bio-vanillin market such as Solvay S.A., ENNOLYS, Evolva Holding S.A., Apple Flavor & Fragrance Group Co. Ltd. , Advanced Biotech, Omega Ingredients Ltd, Comax Flavors, Alfrebro, LLC, Axxence Aromatic GmbH, and Camlin Fine Sciences Ltd.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global bio-vanillin market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the bio-vanillin market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the bio-vanillin market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the bio-vanillin market to understand the present and future trends in this market and formulate their strategies accordingly.