Pure vanilla extract market size has been expanding at a healthy pace over the recent past, promising six per cent CAGR for between 2019 and 2029, with Madagascar being the leading producer of vanilla beans, fulfilling 80 per cent of the world’s demand for vanilla beans, according to Persistence Market Research
According to the study, Madagascar is the leading exporter of vanilla beans across the globe as Madagascar Bourbon vanilla is widely used for the production of pure vanilla extract.
The colour, taste and flavour of pure vanilla extract are dependent on the quality of raw material, vanilla beans. Ingredient suppliers are putting in more efforts to ensure that curing of green vanilla beans is carried out as per the predefined standards of vanilla extract manufacturers.
According to the study, this has a major impact on improving the quality of vanilla beans that would further facilitate the production of high-quality and authentic pure vanilla extract. As a result of efforts taken by ingredient suppliers to maintain the quality of vanilla beans, the demand for high-quality pure vanilla extract continues to rise.
· North America and Europe account for more than 60 per cent of market share in the global pure vanilla extract market, owing to the increasing demand for pure vanilla over synthetic one in the regions.
· Being a much-loved flavour, Vanilla has numerous applications in experimental food products, innovative beverages and even in Nutraceutical supplements as a flavouring agent. For instance, Honey Twigs, a gourmet honey manufacturer recently launched a 100 per cent pure vanilla-flavoured honey. This is made from natural vanilla and premium unadulterated honey.
· The increasing demand for pure vanilla extract across the globe has forced manufacturers to look for new vanilla beans-supplying countries. Some of the newly emerging vanilla bean producers include countries like Hawaii, Cook Island, Comoros, Tanzania and Florida.
Additionally, as a result of growing consumers’ willingness to pay a premium for authentic ingredients, manufacturers of pure vanilla extract would see an influx of opportunities in innovative food and beverage applications. Effective product positioning will be crucial.
Manufacturers aim to develop a diverse portfolio
Manufacturers of pure vanilla extract are opting for various marketing strategies that are helping them position their products better. Pure vanilla extract manufacturers are focusing on scalable and differentiated innovations, which is the best way to distinguish their brands from other competitors.
Manufacturers are expanding their product portfolios by offering non-alcoholic pure vanilla extract. For instance, Singing Dog Vanilla Company introduced a non-alcoholic pure vanilla extract containing glycerin. This pure vanilla extract contains no alcohol, no sugar, and is also gluten-free.