Organic vanilla is certified vanilla, which is produced by the traditional means without the use of chemical containing fertilizers and pesticides. Major share of organic vanilla is procured from Madagascar, which accounts for more than 80% of the total global organic vanilla production in the year 2016. Obtaining organic certification for vanilla is a difficult process and hence, even though farmers practice organic farming, they do not opt for organic certification based on the lack of awareness and stringent process.
Rising consumers’ awareness about harmful chemicals present in the vanilla has spurred the demand for organic vanilla on a global level, which justifies the increasing growth rate of organic vanilla globally.
Based on the application, share of vanilla in food and beverage is expected to witness the highest growth rate (~11.79%) on a global level. Personal care based application of organic vanilla will hold a significant share and will also witness a steady growth during the given forecast period. Health care based application of organic vanilla is likely to experience a high growth rate during the given period owning to the medicinal properties of organic vanilla.
By Downstream Analysis
By 2022, organic vanilla will reach a market value of USD 207 million on a global level. Potential applications of organic vanilla in food and beverage industries have a positive impact on its market share growth. Based on the application, food and beverage will experience the highest growth rate followed by personal care. Food and beverage will account for a market share of more than 85% during the given period.
Competitive Analysis
The major key players in Organic Vanilla Market
Ever Organic (U.S.)
The Vanilla Company (U.S.)
Super Africa Products (Madagascar)
Nestlé S.A. (Switzerland)
General Mills, Inc. (U.S.)
Nielsen-Massey Vanillas Inc. (U.S.)
Symrise AG (Germany)
Key players are focused majorly on acquisition of small players to expand their business and penetrate the global organic vanilla market. Expansion and R & D investments are also the major strategies followed by the players. Expansion will help in capturing the major market and increasing the production capacity to meet the rising demand from consumer’s end thereby further contributing to increasing revenue. Acquisition and expansions are evaluated to be contributing to more than 40% of strategy share and is facilitating the companies to penetrate the potential market across globe.
Regional Analysis
Among the regions, Africa will dominate the organic vanilla market with more than 80% of the market share and it is projected to reach more than USD 150 million by 2022. Rest of the world will witness the highest growth rate (~7.75%) during the forecast period 2017-2022. Growing popularity of organic vanilla owing to its widespread applications in personal care products and food and beverages is supporting its market growth on the global level. Rising health awareness and increasing health concerns have been playing a key role in the organic vanilla growth from the last few years.
Complete Report Details @ https://www.marketresearchfuture.com/reports/organic-vanilla-market-4428
About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Comments