Report : Europe Vanilla Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Form (Paste, Liquid, Powder, and Beans), Category (Organic and Conventional), and Application (Food and Beverages, Personal Care, Pharmaceuticals, and Others)

Food & Beverages segment to dominate the Europe Vanilla Market during 2020–2028

According to a new market research study on “Europe Vanilla Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Form, Category, and Application” is expected to reach US$ 785.96 million by 2028 from US$ 575.52 million in 2021. The market is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The report provides trends prevailing in the Europe vanilla market along with the drivers and restraints pertaining to the market growth. Increasing demand for natural food additives/flavorings, fostering vanilla usage in various end-use industries, and thriving popularity of clean-label and plant-based products are the major factor driving the growth of the Europe vanilla market. However, unsteady prices and supply shortage hinders the growth of Europe vanilla market.

In Europe, currently, France, the UK, and Russia are the worst-impacted countries by the COVID-19 pandemic. The region is estimated to suffer an economic hit due to the lack of revenue from various industries subjected to disruption in the supply chain. The massive outbreak of the pandemic has created a temporary distortion in operation efficiencies of industrial bases in the European market. The market for vanilla has been negatively impacted due to limited operational capabilities due to COVID-19 restrictions. However, the rising demand for vanilla across diverse industrial applications is expected to substantially promote the demand for the vanilla market in the regional market.

The Europe vanilla market is segmented on the basis of form, category, application, and country. Based on form, the market is segmented into paste, liquid, powder, and beans. In 2020, beans segment held the largest share in the market, liquid is expected to be the fastest growing segment during the forecast period. Based on category, the market is segmented into organic and conventional. In 2020, conventional segment held the largest share in the market, and organic is expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into food & beverages, personal care, pharmaceuticals, and others. In 2020, food & beverages segment held the largest share in the market, and personal care is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into Germany, France, the UK, Italy, Russia, and Rest of Europe. In 2020, France held the largest share in the market, and the UK is expected to be the fastest growing country during the forecast period.

Camlin Fine Sciences Ltd.; Givaudan S.A.; Nielsen-Massey Vanillas, Inc.; Symrise; Kerry Group; Touton S.A.; Madagascar Vanilla Company; and Heilala Vanilla US  are among the leading companies in the Europe vanilla market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Nielsen-Massey Vanillas launched Bake to Share Sweepstakes.

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