Bio Vanillin Market To Reach US$14.34 mn before 2025
The key players in the global bio vanillin market are paying attention to quality of the
manufactured products. The companies are also focusing on the new flavors and
fragrances that can be utilized in the cosmetic sector, apart from the food and beverages
industries. Givaudan SA, Solvay SA, Firmenich SA, Advanced Biotech, Evolva Holding
SA, Apple Flavor & Fragrance Group Co., Ltd., Lesaffre, Aurochemicals, Archer Daniels
Midland Company, and Borregaard are some of the leading players in the market. These
firms provide a huge variety of products and this has helped them achieve a strong
position in the global bio vanillin market. One major growth strategy adopted by the firms
in the market is diversifying their product portfolio to up sales. The companies are also
banking upon mergers and acquisitions to expand regionally. This is another major
strategy adopted by key players to improve their market position.
According to Transparency Market Research, the global bio vanillin market is anticipated
to rise with a strong CAGR of 7.4% within the forecast period from 2017 to 2025.
Based on application, the market is led by food industry, which accounted for a
significant 50.82% share in it in 2016. On the basis of geography, the market is
dominated by Europe. The region accounted to over 33.14% share in the market in
2016. The major factor propelling the growth in the region is environment-friendly
property of bio-based products. Europe is foreseen to keep on leading the market within
the forecast period from 2017 to 2025. However, in terms of volume, Asia Pacific
dominates the market.
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Increased Consumption of Organic Products to Fuel Market Growth
The global bio vanillin market is boosted by increase in demand from the food and
beverages industry. The mentioned industry is flourishing all over the world, which turns
out to be a posit