Report : Middle East and Africa 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)
Conventional segment to dominate the Middle East & Africa Vanilla Market during 2020–2028
According to a new market research study on “Middle East & Africa Vanilla Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Form, Category, and Application” is expected to reach US$ 27.39 million by 2028 from US$ 19.37 million in 2021. The market is estimated to grow at a CAGR of 5.1% from 2021 to 2028. The report provides trends prevailing in the Middle East & Africa vanilla market along with the drivers and restraints pertaining to the market growth. Intensifying popularity of clean-label and plant-based products, thriving demand for natural food additives/flavorings, and scaling demand for organic vanilla are the major factor driving the growth of the Middle East & Africa vanilla market. However, inconsistent pricing and supply shortage hinders the growth of Middle East & Africa vanilla market.
In the Middle East & Africa region, South Africa and Israel are among the major countries with a high number of COVID-19 confirmed cases and deaths. According to the International Finance Corporation, the COVID-19 pandemic has a severe impact on the economy of the Middle East & Africa which has led to decline in oil production, tourism, and remittances. The Middle East & Africa region comprise many growing economies, which are prospective markets for vanilla vendors. The pandemic has significantly slowed down the growth of the vanilla market in the region due to the negative impact upon the growth of industries such as food & beverage and cosmetics.
The Middle East & Africa 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 South Africa, Saudi Arabia, the UAE, and Rest of MEA. In 2020, the UAE held the largest share in the market, and the South Africa 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.; and Madagascar Vanilla Company are among the leading companies in the Middle East & Africa 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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