The South & Central America vanilla extract market was valued at US$ 25.54 million in 2022 and is expected to reach US$ 40.82 million by 2030; it is estimated to record a CAGR of 6.0% from 2022 to 2030.
Expanding Demand for Natural/Clean-Label Ingredients Fuels South & Central America Vanilla Extract Market
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 South & Central America vanilla extract market during the forecast period.
South & Central America Vanilla Extract Market Overview
The Rest of South & Central America vanilla extract market is segmented into Chile, Uruguay, Colombia, and Paraguay, among others. These countries offer potential growth opportunities for the vanilla extract market owing to substantial economic growth, rising adoption of healthy lifestyles, and growing interest in natural food consumption. Moreover, the increasing awareness regarding the benefits of vanilla extract, such as its antibacterial and other medical benefits-such as several healing properties-fuels the demand for vanilla extract in cosmetics, and pharmaceutical industry and is further expected to drive the market growth.
South & Central America Vanilla Extract Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Vanilla Extract Market Segmentation
The South & Central America vanilla extract market is segmented based on form, category, application, and country. Based on form, the South & Central America vanilla extract market is bifurcated into powder and liquid. The liquid segment held a larger market share in 2022.
In terms of category, the South & Central America vanilla extract market is bifurcated into organic and conventional. The conventional segment held a larger market share in 2022.
By application, the South & Central America vanilla extract market is categorized into food & beverages, personal care, and others. The food & beverages segment held the largest market share in 2022. Further, food & beverages segment is categorized into bakery & confectionery, dairy & frozen desserts, beverages, sweet & savory snacks, and others.
Based on country, the South & Central America vanilla extract market is segmented into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America vanilla extract market share in 2022.
Prova SAS, Natural Vanilla Pty Ltd, Kerry Group Plc, Archer-Daniels-Midland Co, and Synergy Flavors Inc are some of the leading players operating in the South & Central America vanilla extract market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 25.54 Million |
| Market Size by 2030 | US$ 40.82 Million |
| CAGR (2022 - 2030) | 6.0% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Form
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
1. Prova SAS
2. Natural Vanilla Pty Ltd
3. Kerry Group Plc
4. Archer-Daniels-Midland Co
5. Synergy Flavors Inc
The South & Central America Vanilla Extract Market is valued at US$ 25.54 Million in 2022, it is projected to reach US$ 40.82 Million by 2030.
As per our report South & Central America Vanilla Extract Market, the market size is valued at US$ 25.54 Million in 2022, projecting it to reach US$ 40.82 Million by 2030. This translates to a CAGR of approximately 6.0% during the forecast period.
The South & Central America Vanilla Extract Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Vanilla Extract Market report:
The South & Central America Vanilla Extract Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Vanilla Extract Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Vanilla Extract Market value chain can benefit from the information contained in a comprehensive market report.
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