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Pure Vanilla Extract Market Segmented By Vanilla Extract, Pure Vanilla Extract, Cook's VANILLA, McCormick Pure Vanilla Extract, Organics Pure Vanilla Extract, Vanilla Beans and Extract, Synergy Pure Vanilla Extract
The vanilla extract industry is witnessing increasing demand from processed food and beverage manufacturers. Manufacturers of pure vanilla extract can capitalize on the rewarding opportunities offered by these segments.
Vanilla is the favorite flavor of most consumers; hence, innovative vanilla-based products are frequently launched to attract consumers.
For instance, in the year 2019, Coca-Cola North America launched its new flavor, Coke Orange Vanilla and Coke Orange Vanilla Zero Sugar in Canada. This newly launched beverage is blended with extracts of vanilla and orange.
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Emerging economies from regions like East Asia and South Asia are witnessing a high growth rate in the global pure vanilla extract market. Increasing consumer inclination towards products with natural ingredients is boosting the demand for pure vanilla extract in these regions. Consumers are prioritizing quality over quantity, and hence, willing to pay premium prices for such premium products.
Madagascar Bourbon vanilla is widely used in the production of pure vanilla extract. African countries like Madagascar and Uganda, and South Asian countries like Indonesia and Papua New Guinea, are the most prominent producers of vanilla beans. These countries collectively account for more than 90% of the vanilla beans supplied across the globe.
North America and Europe are major buyers of these vanilla beans. North America holds the maximum share in the pure vanilla extract market owing to the largest number of pure vanilla extract manufacturers in the region. The U.S. has banned the use of synthetic vanilla, which has made it the leading producer and consumer of pure vanilla extract.
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Get a Customized VersionTraditional vanilla-growing countries of Madagascar, Indonesia, and Papua New Guinea produce more than 90% of the world’s vanilla. However, lucrative vanilla prices have spurred other countries to invest in vanilla production capabilities.
This is an entirely new agricultural initiative that may assist in the expansion of the market, and diversify the production of pure vanilla extract. Emerging vanilla-growing countries such as Hawaii, Florida, Comoros, and Samoa are being noticed for their vanilla bean production capabilities.
For instance, Hawaii currently features the only commercial vanilla farm in the United States. As vanilla can only be grown approximately 20 degrees north or south of the equator, Hawaii is ideally suited for growing vanilla, and is considered as one of the most popular emerging vanilla-growing countries in the world.
Manufacturers of pure vanilla extract are collaborating with vanilla farmers for sustainable production of vanilla beans. In many vanilla-growing regions, manufacturers are directly collaborating with vanilla farmers for optimized production and direct supply of vanilla beans. Such contracts ensure that raw material sourced is of fine quality and as per company standards.
Adoption of a gluten-free diet is rising worldwide. As the number of consumers diagnosed each year with celiac disease or gluten intolerance grows, demand for gluten-free food and ingredients intensifies.
Recently, Nielsen-Massey introduced its new Organic Fairtrade Madagascar Bourbon Pure Vanilla Extract, which offers a sweet, creamy, and mellow flavor, making it an exceptional addition to any gluten-free food recipe.
Pure vanilla extract has increasing applications in various innovative food products and beverages. The gourmet food industry is also demanding authentic ingredients, and pure vanilla extract is enjoying increasing demand in such applications.
Leading pure vanilla extract manufacturers have invested in sustainable production of vanilla beans in established producing regions as well as emerging vanilla bean producing regions. Such investments are anticipated to provide a strategic advantage to the manufacturers in the pure vanilla extract market. However, the cyclic nature of raw material prices is impacting the global pure vanilla extract market.
PMR’s study on the global pure vanilla extract market offers information divided into four important segments- nature, origin, end use, and region.
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