The Latin America, Middle East and Africa Vanilla Extract Market would witness market growth of 7.0% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 3,175.49 tonnes, showcasing a growth of 8.1% (2023-2030).
Vanilla extract is also available in alcohol-free variants, addressing the needs of individuals with dietary restrictions or preferences, while still delivering the desired aroma and flavor. Furthermore, liquid vanilla flavorings, including imitation and concentrated extracts, offer cost-effective alternatives for mass-market products, such as beverages, confectionery, and cosmetics, where a consistent vanilla profile is desired. Therefore, the UAE market consumed 492.83 kilo tonnes liquid vanilla extract by 2030.
The Brazil market dominated the LAMEA Vanilla Extract Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $145 million by 2030. The Argentina market is showcasing a CAGR of 4.8% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6.7% during (2023 - 2030).
The vanilla extract market has witnessed significant growth and evolution, driven by the rising consumer demand for natural and premium flavors in various industries. Vanilla, derived from the cured beans of the vanilla orchid, is a versatile and beloved flavoring agent, making vanilla extract a key player in the food and beverage sector. Vanilla extract has a ubiquitous presence in culinary applications.
In addition, the premiumization of vanilla extract is also tied to the perception of craftsmanship and artisanal production. Consumers are drawn to products that showcase meticulous attention to detail in cultivation, harvesting, and extraction. Small-batch and artisanal vanilla extracts are premium options, appealing to those who appreciate the craftsmanship of creating a high-quality product.
The UAE has experienced a rise in café culture, with an increasing number of specialty coffee shops and tea houses. Vanilla lattes and chilled beverages are among the specialty drinks that frequently incorporate vanilla extract to enhance their flavor in response to the rising demand for distinctive and palatable concoctions. Therefore, the growing food service and food and beverage sectors in LAMEA will lead to increased demand for vanilla extract in the region.
Free Valuable Insights: The Worldwide Vanilla Extract Market is Projected to reach 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
