According to a new report, published by KBV research, The Global Vanilla Oil Market size is expected to reach $1.6 billion by 2031, rising at a market growth of 4.0% CAGR during the forecast period. In the year 2023, the market attained a volume of 3,144.63 tonnes, experiencing a growth of 15.9% (2020-2023).
The vanilla oil market has been experiencing notable expansion due to increasing consumer demand for natural and aromatic products across various sectors. As consumers increasingly seek organic and high-quality ingredients for personal care, cosmetics, and aromatherapy, vanilla oil’s sweet and soothing fragrance has gained popularity. Additionally, the growth of the gourmet food industry and the rising trend of incorporating natural flavours in culinary applications have further fuelled the demand for vanilla oil.
The Cans segment exhibits a CAGR of 4.4% during (2024 - 2031). Cans provide excellent protection against light, air, and moisture, which are critical factors in preserving the quality of vanilla oil. The airtight seal of cans helps prevent oxidation and contamination, ensuring that the vanilla oil retains its flavour and aroma over time. Due to their protective qualities, cans can significantly extend the shelf life of vanilla oil.
The Personal Care segment is leading the Global Vanilla Oil Market by End-use Industry in 2023; thereby, achieving a market value of $426.8 Million by 2031. Vanilla oil has a warm, sweet, and comforting fragrance highly desirable in personal care products. Its pleasant scent enhances the sensory experience of products like lotions, shampoos, and body washes, making them more appealing to consumers. Vanilla oil is often used in personal care products for its soothing and antioxidant properties. It is believed to have anti-inflammatory effects that help calm and protect the skin, making it a popular ingredient in skincare formulations.
The Natural Vanilla Oil segment would experience a CAGR of 4.4% during (2024 - 2031). There is a growing consumer trend towards natural and organic products. Consumers prefer natural vanilla oil over synthetic alternatives due to its perceived purity and authenticity. This shift is driven by increasing health consciousness and a desire for natural and less processed food and beverage options. Natural vanilla oil, derived from vanilla beans, offers a complex and rich flavour often considered superior to synthetic vanilla.
Full Report: https://www.kbvresearch.com/vanilla-oil-market/
The Europe region dominated the Global Vanilla Oil Market by Region in 2023; thereby, achieving a market value of $592.2 Million by 2031. The North America region is poised to grow at a CAGR of 3.4% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 4.6% during (2024 - 2031).
By Packaging (Volume, Tonnes, USD Billion, 2020-2031)
By End-use Industry (Volume, Tonnes, USD Billion, 2020-2031)
By Type (Volume, Tonnes, USD Billion, 2020-2031)
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