LONDON–(BUSINESS WIRE)–#GlobalVanillinMarket–The global vanillin market is expected to grow by USD 262.37 million during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The demand for food and beverage items that contain natural food additives such as bio vanillin is increasing. However, the process of manufacturing bio vanillin or natural vanillin is expensive when compared with that of synthetic vanillin. As a result, the demand for synthetic vanillin is increasing around the globe. Synthetic vanillin is extensively used in the production process of processed food items. It is used in the production of food and beverage items such as chocolates, cakes, and sweets. Thus, the increased consumption of synthetic vanillin will boost the growth of the vanillin market during the forecast period.
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As per Technavio, the use of vanillin for the prevention of psoriasis 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.
Vanillin Market: The Use of Vanillin for the Prevention of Psoriasis
Vanillin is finding various pharmaceutical applications in the healthcare industry. Around 120 million individuals around the world are affected by psoriasis skin ailment. Physicians prescribe medications to remove scales and stop the skin cells from growing so quickly. The use of vanillin to treat psoriasis is becoming one of the major trends in the market as it has proved to work against psoriatic skin infections and other inflammatory conditions. Thus, with the growing use of vanillin in the prevention of psoriasis, the market for vanillin is expected to showcase a positive outlook during the forecast period.
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Vanillin Market: Segmentation Analysis
This market research report segments the global vanillin market by application (food and beverages, fragrances and pharmaceuticals), and geographic segmentation (APAC, Europe, MEA, North America, and South America).
The APAC region led the vanillin market in 2019, followed by Europe, North America, MEA, and South America. During the forecast period, the APAC region is expected to register the highest incremental growth due to the growing demand for vanillin-based food products from China and India.
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Some of the key topics covered in the report include:
Application segmentation
- Food and beverages
- Fragrances
- Pharmaceuticals
Geographic Segmentation
- APAC
- Europe
- MEA
- North America
- South America
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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