issue_2_2017_rev2

08 industry news
Global vanillin market set to grow
The global vanillin market is expected to reach US$724.5 million by 2025, according to a new report by Grand View
Research, Inc. Increasing consumption of food & beverage products has been a key factor driving market growth globally.
In addition, robust growth in various end-use industries such as food & beverage, fragrance, cosmetics and
pharmaceuticals is also fuelling the demand.
Vanillin is an essential aromatic compound extensively used to enhance the aroma and flavour of different end-use
products. It is widely used as flavouring agent in food products and aromatic additives for incense, perfumes, medicines,
candles and air fresheners. Due to an ability to enhance flavour in food products coupled with low-calorie content and the
high availability of antioxidants in vanillin, its demand from food & beverage segment is anticipated to increase over the
forecast period.
Food & beverage accounted was the largest end-use segment in 2016 and is anticipated to grow significantly over the
upcoming years. Growing demand for variety food products is encouraging manufacturers to produce vanillin products
from a sustainable source.
The fragrance segment is expected to witness the fastest growth in terms of volume over the forecast
period with an estimated CAGR of 6.0% from 2017 to 2025. Increasing consumer spending on
beauty and personal care products along with growing usage of aromatic products in various
fragrance application products are anticipated to fuel the growth of the market over
the forecast period. Further key findings from the report suggest:
n The global vanillin demand was 18,653.9 tons in 2016 and is
expected to grow at a CAGR of 6.2% from 2017 to 2025. Food &
beverage emerged as the largest end-use segment in 2016 and is
estimated to generate revenue worth US$448.5 million by 2025.
n Global demand in fragrance was US$106.6 million in 2016 and is
anticipated to witness staggered growth over the next eight years.
n The industry in Asia Pacific is projected to witness substantial growth over
the next eight years owing to robust growth in various end-use industries, especially in the food & beverage market. In
terms of revenue, the APAC market is expected to grow at a CAGR of 7.6% from 2017 to 2025
n Key players including Evolva S.A., Solvay S.A., International Flavors Fragrances, Inc., De Monchy Aromatics and
Comax Flavors dominated the global market while accounting for over half of the total volume in 2015. n
Gluten-free market on the rise
The global gluten-free products market is expected to reach US$33.05 billion by 2025,
according to a new report by Grand View Research, Inc. The market is expected to
witness substantial growth over the forecast period mainly on account of the rising
incidences of celiac disease, diabetes as well as obesity across the developed
economies.
Consumer perception of gluten-free products being diet food is expected to act as a key
driver for industry growth over the next few years. Unique promotional strategies
adopted by the major manufacturers including sampling, in-store cooking demonstrations,
and shelf tags indicating a consumable to be gluten-free have been playing crucial roles in
influencing product demand.
The growing inclination of consumers towards leading healthy lifestyles, coupled with the association of free-from
products with being healthy is expected to have a positive impact on industry growth. In addition, the rising awareness
among consumers of limiting their intake of gluten to avoid celiac disease and Irritable Bowel Syndrome (IBS) is
expected to aid product demand.
Gluten-free products are perceived to ease digestive ailments, lower the cholesterol level, and be less fattening, which in
turn are expected to drive product demand over the forecast years. Furthermore, the easy availability of the products,
through nearly every grocery store, is expected to aid industry growth, most notably in the US and major European
countries. n
www.foodmagazine.eu.com issue two | 2017