Vanilla Market 2022-2028: Contending Applications

“When the product is right, you don’t have to be a great marketer.” This thought by Lido Iacocca, an American automotive executive, has proven true for various products, even the product in focus today – vanilla. With world exports of vanilla exceeding around $903 million in 2021, it has emerged as a popular spice with diversified applications across industries, including F&B and pharmaceuticals. Estimates indicate Madagascar is the largest vanilla exporter, at 68% in 2021, followed by France, Germany, Indonesia, and Canada. Given the trend, the global vanilla market is expected to flourish at a CAGR of 4.85% during the forecast period 20222028.

Numerous players have heavily invested in R&D activities to improve vanilla’s production yield. In the same effort, governments worldwide are making robust efforts to improve quality and production volumes and stabilize vanillin costs, bridging the gap between demand and supply.

Vanilla Market by Application | Overview

1. Food & beverage is a major category in the application segment, with ice cream and chocolate gaining the highest share. With consumers seeking non-GMO and no artificial flavor products, companies like Nestlé, General Mills, and Hershey’s are including natural flavoring, elevating vanilla demand. For instance, Nestlé is reformulating

End-user industries such as food and beverage, pharmaceuticals, and personal care widely use vanilla during production.