Market Overview:

The global vanilla extract market size was valued at USD 5.26 billion in 2021. The market is projected to grow from USD 4.94 billion in 2022 to USD 6.29 billion by 2029, exhibiting a CAGR of 3.52% during the forecast period.

This information is provided by Fortune Business Insights, in its report, titled “Vanilla Extract Market, 2022-2029.”

List of Key Players Mentioned in the Report:

• Adams Extract (U.S.)
• F. Sauer Company (U.S.)
• McCormick & Company (U.S.)
• Frontier Natural Products (U.S.)
• Madécasse (U.S.)
• Nielsen-Massey Vanillas (U.S.)
• Watkins Incorporated (U.S.)
• Eurovanille (France)
• Firmenich (Switzerland)
• Symrise (Germany)
• Lochhead Manufacturing Company (U.S.)

Segments:

Madagascar Vanilla Segment Holds Prime Market Share Accredited to Huge Yield and High Demand

Madagascar vanilla beans are produced in Madagascar and are measured to be the best of its kind for superior quality vanilla beans in the spice industry. Abundant rainfall and fertile soil make the prime circumstances for cultivation of vanilla plants.

Food & Beverages Segment Holds Key Share Owing to Expanded Applications of Product in Numerous Food Products

Vanilla extracts are utilized predominantly in the food & beverages industry in multiple forms. Its usage can be witnessed as flavoring and taste enhancers in candy, chocolate, pastry, ice-cream, dairy products, bakery items such as biscuits, cookies, waffles, baking mixes, muffins, cakes, and beverages such as soft drinks, confectionery, coffee drinks, sauces, as well as baby formulas.