BIO VANILLIN MARKET IS EXPECTED TO RISE A CAGR OF 7.4% FROM 2017 TO 2025

Posted by mandar on March 25th, 2021

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.

Request PDF brochure

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=10409

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.