The Europe Vanilla Extract Market would witness market growth of 4.5% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 5,602.39 tonnes, showcasing a growth of 3.8% (2019-2022).
Vanilla extract contains antioxidants that are beneficial for skin health, offering moisturizing and anti-inflammatory properties that can soothe and nourish the skin. This has led to an increased interest from cosmetics and skincare companies in incorporating vanilla extract into their formulations to enhance both the olfactory experience and the skincare benefits of their products. Therefore, the France market make use of 470.78 kilo tonnes of vanilla extract in personal care in 2022.
The France market dominated the Europe Vanilla Extract Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $415.6 million by 2030. The UK market is exhibiting a CAGR of 3.5% during (2023 - 2030). Additionally, The Germany market would experience a CAGR of 5.1% during (2023 - 2030).
The vanilla extract market has witnessed a trend towards premiumization, with consumers expressing a willingness to pay a premium for high-quality, pure vanilla products. A desire for authentic and superior flavor experiences drives this shift. Premiumization is closely linked to the demand for authentic and traceable food experiences. Consumers are showing a heightened interest in the origin of vanilla beans and the extraction process. Single-origin and specialty vanilla extracts, often associated with specific regions or varietals, are gaining popularity. This trend aligns with a desire for transparency and a connection to the source of the ingredients.
The dairy sector, vanilla extract is a key ingredient in producing ice creams, yogurts, and custards. The creamy and sweet profile of vanilla complements the dairy base, making it a sought-after flavor in frozen desserts. Vanilla extract is fundamental in creating vanilla ice cream's classic, rich, and creamy texture. Its sweet and aromatic notes serve as a standalone flavor and a base for countless other ice cream varieties, forming the foundation for many flavor combinations. In the yogurt industry, vanilla extract provides a sweet and aromatic undertone to plain and flavored yogurts. Whether used in fruit-flavored yogurts or as a key component in vanilla-flavored variants, vanilla extract contributes to a well-rounded and indulgent taste experience.
The EU's food service sector, comprising restaurants, cafes, bakeries, and other establishments, is known for its commitment to culinary innovation. Chefs and food service professionals often experiment with flavors, and vanilla extract is a versatile ingredient in creating traditional and modern dishes. Hence, the growing food service and food and beverage sectors in Europe will boost the demand for vanilla extract in the region.
Free Valuable Insights: The Global Vanilla Extract Market will Hit USD 6.5 Billion by 2030, at a CAGR of 4.8%
Based on Product Type, the market is segmented into Liquid and Powder. Based on Source, the market is segmented into Natural and Synthetic. Based on Application, the market is segmented into Food and Beverages, Personal Care and Others. Based on Distribution Channel, the market is segmented into Business-to-Business, Supermarkets & Hypermarkets, Convenience Stores, Departmental Stores and Online Sales Channels. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Product Type (Volume, Tonnes, USD Billion, 2019-2030)
By Source (Volume, Tonnes, USD Billion, 2019-2030)
By Application (Volume, Tonnes, USD Billion, 2019-2030)
By Distribution Channel (Volume, Tonnes, USD Billion, 2019-2030)
By Country (Volume, Tonnes, USD Billion, 2019-2030)
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
