Due to an ability to enhance flavor in food products coupled with low-calorie content and high availability of antioxidants in vanillin, its demand from food & beverage segment is anticipated to increase over the forecast period.
Food & beverage accounted as the largest end-use segment in 2017 and is anticipated to grow significantly over the upcoming years. Growing demand for variety food products is encouraging manufacturers to produce vanillin products from a sustainable source.
From a global perspective, the vanillin market is concentrated in the hands of a few large manufacturers, typically Solvay, Ningbo Wanglong Technology Co., Ltd. and Jiaxing China Chemicals, which account for 68% of the entire market. Therefore, it has greater market pricing power.
With the concept of healthy diet continues to deepen. Under the same effect, the addition amount shows a decreasing trend, so that the better effect of ethyl vanillin has great development space. And the price is reasonable. So for the next meal, ethyl vanillin will be the protagonist of the market.