At 5.4% CAGR, Europe Vanilla Extract Market is Projected to be Worth US$ 109.41 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe vanilla extract market was valued at US$ 71.96 million in 2022 and is expected to reach US$ 109.41 million by 2030, registering a CAGR of 5.4% from 2022 to 2030. Expanding demand for natural/clean-label ingredients and rising adoption of vanilla extract in personal care are among the critical factors attributed to the Europe vanilla extract market expansion.

Consumers across the world are leaning toward the adoption of a healthier lifestyle. Natural flavors can satisfy consumers' dietary requirements. Descriptions on menus and labels on food packaging highly influence consumer preferences. Clean-label products are becoming increasingly popular as consumers prefer 100% natural products with no synthetic ingredients such as preservatives, artificial colors, flavors, and others. Consumer demand and international regulations have prompted various application industries to seek active ingredients from natural sources to produce safe and sustainable products. Thus, manufacturers of vanilla extracts expand their product portfolio to fulfil the increasing demand for natural and clean-label ingredients. Thus, the rising demand for natural and clean-label ingredients is expected to provide lucrative opportunities for the Europe vanilla extract market during the forecast period.

On the contrary, price volatility and supply shortage hurdles the growth of Europe vanilla extract market.

Based on form, the Europe vanilla extract market is bifurcated into powder and liquid. The liquid segment held 88.9% share of Europe vanilla extract market in 2022, amassing US$ 63.95 million. It is projected to garner US$ 97.48 million by 2030 to expand at 5.4% CAGR during 2022-2030.

In terms of category, the Europe vanilla extract market is bifurcated into organic and conventional. The conventional segment held 73.1% share of Europe vanilla extract market in 2022, amassing US$ 52.58 million. It is projected to garner US$ 77.96 million by 2030 to expand at 5.0% CAGR during 2022-2030.

By application, the Europe vanilla extract market is segmented into food & beverages, personal care, and others. The food & beverages segment held 56.0% share of Europe vanilla extract market in 2022, amassing US$ 40.32 million. It is projected to garner US$ 60.52 million by 2030 to expand at 5.2% CAGR during 2022-2030. Further, food & beverages segment is categorized into bakery & confectionery, dairy & frozen desserts, beverages, sweet & savory snacks, and others.

Based on country, the Europe vanilla extract market has been categorized into Germany, the UK, France, Italy, Spain, the Netherlands, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 32.0% share of Europe vanilla extract market in 2022. It was assessed at US$ 23.01 million in 2022 and is likely to hit US$ 32.02 million by 2030, exhibiting a CAGR of 4.2% during 2022-2030.

Key players operating in the Europe vanilla extract market are Eurovanille, Prova SAS, HE Stringer Flavours Ltd, Natural Vanilla Pty Ltd, Kerry Group Plc, Archer-Daniels-Midland Co, Virginia Dare Extract Co Inc, and Synergy Flavors Inc, among others.

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