According to a new report, published by KBV research, The Global Vanillic Acid Market size is expected to reach $23.3 billion by 2031, rising at a market growth of 2.1% CAGR during the forecast period. In the year 2023, the market attained a volume of 25,723.4 tonnes, experiencing a growth of 9.1% (2020-2023).
The vanillic acid market is poised for expansion driven by increasing consumer demand for natural and clean-label products across various industries, including food, fragrance, and pharmaceuticals. With growing awareness of health and sustainability, natural vanillic acid derived from sources like vanillin, lignin, and microbial fermentation is gaining traction as a preferred ingredient over synthetic alternatives. Moreover, the expanding application range of vanillic acid beyond traditional sectors, such as cosmetics, nutraceuticals, and personal care products, presents new avenues for market penetration.
The Purity 98% segment is leading the Global Vanillic Acid Market by Purity in 2023; thereby, achieving a market value of $12.5 billion by 2031. Industries such as pharmaceuticals, food, and fragrances require high-purity vanillic acid to ensure product quality and safety. A purity level of 98% ensures that the vanillic acid meets stringent quality standards, making it suitable for use in sensitive applications. Higher purity vanillic acid typically exhibits improved performance characteristics, such as better solubility, stability, and flavor profile. Industries often prefer products with higher purity levels to achieve optimal results in their formulations and processes.
The Pharmaceutical Intermediates segment is registering a CAGR of 2.3% during (2024 - 2031). Vanillic acid is utilized as an intermediary in the pharmaceutical sector to make a variety of medications. It is a potentially useful molecule for developing novel medications because it has been demonstrated to have anti-inflammatory and anticancer characteristics. It can conceal the taste of tablets, reduce the bitterness of medications, process oral medications, make topical medicated lotions, and make other pharmaceutical products.
Full Report: https://www.kbvresearch.com/vanillic-acid-market/
The Asia Pacific region dominated the Global Vanillic Acid Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $8.6 billion by 2031. The North America region is anticipating a CAGR of 1.9% during (2024 - 2031). Additionally, The Europe region would exhibit a CAGR of 1.7% during (2024 - 2031).
By Purity (Volume, Tonnes, USD Billion, 2020-2031)
By Application (Volume, Tonnes, USD Billion, 2020-2031)
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