Aug 27, 2020   SOURCE: BusinessWire

Bio Vanillin Market Analysis with Highlights on the Impact of COVID-19, (2020-2024) | Consumer Awareness Regarding the Adverse Effects of Artificial Food Ingredients to Boost Market Growth | Technavio

The bio vanillin market is expected to grow by USD 7.95 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200826005417/en/

Technavio has announced its latest market research report titled Global Bio Vanillin Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Bio Vanillin Market 2020-2024 (Graphic: Business Wire)

Request challenges and opportunities influenced by COVID-19 pandemic - Request a Free Sample Report on COVID-19 Impacts

Globally, consumers are increasingly becoming aware of the side-effects of the presence of synthetic and artificial food ingredients that cause toxicity, allergies, and cancer. Also, many consumers read the food packaging label to understand the ingredients in the food product, especially additives. Hence, F&B companies are increasing the use of natural food additives such as bio vanillin in their products to attract health-conscious consumers. These factors are expected to drive the growth of the global bio vanillin market during the forecast period.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44323

As per Technavio, the growth of the flavor and fragrance industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Bio Vanillin Market: Growth of the Flavor and Fragrance Industry

Factors such as a rise in purchasing power, rapid urbanization, and the growing significance of grooming and personal appearance have increased the consumer spend on beauty and cosmetic products. Also, the growth in international tourism and rising internet penetration have increased the sale of aroma candles, organic perfumes, essential oils, sweet-flavored perfumes, and deodorants. Bio vanillin is widely used as an aromatic agent in the flavor and fragrance industry. Therefore, the growing flavor and fragrance industry is expected to boost the demand for bio vanillin during the forecast period.

“Rising demand for bio vanillin from the confectionery industry and strict regulations and guidelines on the use of food ingredients will further boost market growth during the forecast period”, says a senior analyst at Technavio.

Register for a free trial today and gain instant access to 17,000+ market research reports

Technavio's SUBSCRIPTION platform

Bio Vanillin Market: Segmentation Analysis

This market research report segments the bio vanillin market by Application (food and beverage, fragrances, and pharmaceuticals) and Geography (APAC, Europe, North America, MEA, and South America).

The APAC region led the bio vanillin market in 2019, followed by Europe, North America, MEA, and South America respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the growth of the pharmaceutical and food and beverage industries in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.