According to a report by The Insight Partners, the vanilla market was valued at US$ 1,434.51 million in 2021 and is projected to reach US$ 1,956.09 million by 2028.
The rising demand for organic food is creating a massive demand for organic vanilla. Organic vanilla is grown in soil that is free from chemical fertilisers. The use of synthetic pesticides and herbicides is prohibited for organic vanilla farming. It is minimally processed, with no fumigation or irradiation, which preserves its original flavor and aroma. Many regulatory bodies across different countries provide certification to the companies engaged in organic farming and manufacturing. People have become more aware of the benefits of organic foods, which has increased their popularity. They are cultivated naturally with manure or compost without chemical fertilisers and pesticides. As children are more vulnerable to illnesses caused by pesticide residues in food than adults, parents choose to feed them organic foods.
Consumer preferences are highly influenced by descriptions on menus and labels on food packaging. Clean-label products are increasingly becoming popular as consumers are preferring 100% natural products with no synthetic ingredients, such as preservatives, artificial colors, and flavours. Vanilla is a spice used as a flavouring agent in various food products, such as cookies, pastries, cakes, ice creams, and desserts. As vanilla is a natural, plant-based flavouring ingredient, it is highly preferred by plant-based and clean-label food product manufacturers. The rising trend of clean-label food and veganism is projected to significantly impact the demand for natural vanilla in the coming years.
Based on the form, the vanilla market is segmented into paste, liquid, powder, and beans. The beans segment held a significant market share in 2020. Vanilla beans are mainly used in bakery products, ice creams, beverages, and desserts. Vanilla seeds in vanilla beans add gourmet visual delight to various dishes, such as ice creams, custards, and smoothies. Whole vanilla beans are very expensive and are significantly used in gourmet or premium food products.
Based on the application, the vanilla market is segmented into food and beverage, personal care, pharmaceuticals, and others. The market for the personal care segment is expected to grow at the highest rate over the forecast period.
Vanilla has anti-inflammatory and anti-bacterial properties that help fight acne and minimise redness and inflammation. It is a rich source of antioxidants that protect the skin from pollution and contaminants. Due to all these properties, manufacturers of personal care products are frequently employing vanilla in their products. Vanilla is becoming a vital ingredient in many skincare products, such as moisturisers, scrubs, anti-aging creams, face washes, body creams, day and night creams.
Read More: How Estee Lauder Companies is using Blockchain to trace its Madagascan Vanilla supply chain
