South & Central America Vanilla Extract Market Forecast to 2030

According to the Research Team’ research, the South & Central America vanilla extract market was valued at US$ 25.54 million in 2022 and is expected to reach US$ 40.82 million by 2030, registering a CAGR of 6.0% from 2022 to 2030. High demand for organic vanilla products and expanding demand for natural/clean-label ingredients are among the critical factors attributed to the South & Central America vanilla extract market expansion.

Organic products are cultivated naturally with manure or compost without chemical fertilizers and pesticides. As children are more vulnerable to illnesses caused by pesticide residues in food than adults, parents choose to feed them organic foods. Organic foods are free of growth hormones, genetically modified ingredients (GMI), and antibiotic residues. Thus, the popularity of organic foods has increased among health-conscious consumers owing to the rising awareness of benefits of organic foods. The rising inclination toward organic foods propels demand for organic vanilla extract. Organic vanilla farming comprises eco-friendly agricultural practices that result in higher crop yields. Many organic vanilla farming communities across Madagascar, Tonga, and other vanilla-producing economies follow organic farming practices to produce value-added vanilla products.

Organic vanilla farming is challenging due to the stringent farming practices required. However, due to the upsurging demand for organic vanilla, communities across Tonga, Madagascar, and other vanilla-producing economies are undergoing extensive training programs to learn the required agricultural skills.

Furthermore, manufacturers of various food products such as ice creams, desserts, cakes, and pastries are increasingly employing organic vanilla to ensure offering of sustainable products free of added sugars, genetically modified organisms (GMOs), or any other questionable ingredients. Organic products offer a significant competitive advantage to vanilla extract manufacturers, enhancing their brand awareness and profitability.

Thus, the rising demand for organic vanilla products is expected to create a new trend in the vanilla extract market during the forecast period.

On the contrary, price volatility and supply shortage hurdles the growth of South & Central America vanilla extract market.

Based on form, the South & Central America vanilla extract market is bifurcated into powder and liquid. The liquid segment held 90.3% share of South & Central America vanilla extract market in 2022, amassing US$ 23.05 million. It is projected to garner US$ 36.94 million by 2030 to expand at 6.1% CAGR during 2022-2030.

In terms of category, the South & Central America vanilla extract market is bifurcated into organic and conventional. The conventional segment held 76.5% share of South & Central America vanilla extract market in 2022, amassing US$ 19.53 million. It is projected to garner US$ 30.49 million by 2030 to expand at 5.7% CAGR during 2022-2030.

By application, the South & Central America vanilla extract market is segmented into food & beverages, personal care, and others. The food & beverages segment held 64.2% share of South & Central America vanilla extract market in 2022, amassing US$ 16.39 million. It is projected to garner US$ 25.90 million by 2030 to expand at 5.9% CAGR during 2022-2030. Further, food & beverages segment is categorized into bakery & confectionery, dairy & frozen desserts, beverages, sweet & savory snacks, and others.

Based on country, the South & Central America vanilla extract market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 53.7% share of South & Central America vanilla extract market in 2022. It was assessed at US$ 13.71 million in 2022 and is likely to hit US$ 22.44 million by 2030, exhibiting a CAGR of 6.4% during 2022-2030.

Key players operating in the South & Central America vanilla extract market are Prova SAS, Natural Vanilla Pty Ltd, Kerry Group Plc, Archer-Daniels-Midland Co, and Synergy Flavors Inc, among others.

1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Market Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Vanilla Extract Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturing Process
4.3.3 Distributors or Suppliers
4.3.4 Application
5. South & Central America Vanilla Extract Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Wide Range of Applications of Vanilla Extract in Food & Beverage Industries
5.1.2 Rising Adoption of Vanilla Extract in Personal Care
5.2 Market Restraints
5.2.1 Price Volatility and Supply Shortage
5.3 Market Opportunities
5.3.1 Expanding Demand for Natural/Clean-Label Ingredients
5.4 Future Trends
5.4.1 High Demand for Organic Vanilla Products
5.5 Impact Analysis of Drivers and Restraints
6. Vanilla Extract Market – South & Central America Market Analysis
6.1 South & Central America Vanilla Extract Market Overview
6.2 South & Central America Vanilla Extract Market Revenue (US$ Thousand), 2020 – 2030
6.3 Vanilla Extract Market Forecast and Analysis
7. South & Central America Vanilla Extract Market Analysis – Form
7.1 Liquid
7.1.1 Overview
7.1.2 Liquid Market Revenue and Forecast to 2030 (US$ Thousand)
7.2 Powder
7.2.1 Overview
7.2.2 Powder Market Revenue and Forecast to 2030 (US$ Thousand)
8. South & Central America Vanilla Extract Market Analysis – Category
8.1 Organic
8.1.1 Overview
8.1.2 Organic Market Revenue and Forecast to 2030 (US$ Thousand)
8.2 Conventional
8.2.1 Overview
8.2.2 Conventional Market Revenue and Forecast to 2030 (US$ Thousand)
9. South & Central America Vanilla Extract Market Analysis – Application
9.1 Food & Beverages
9.1.1 Overview
9.1.2 Food & Beverages Market Revenue and Forecast to 2030 (US$ Thousand)
9.1.2.1 Bakery & Confectionery
9.1.2.1.1 Overview
9.1.2.1.2 Bakery & Confectionery Market Revenue and Forecast to 2030 (US$ Thousand)
9.1.2.2 Dairy & Frozen Desserts
9.1.2.2.1 Overview
9.1.2.2.2 Dairy & Frozen Desserts Market Revenue and Forecast to 2030 (US$ Thousand)
9.1.2.3 Beverages
9.1.2.3.1 Overview
9.1.2.3.2 Beverages Market Revenue and Forecast to 2030 (US$ Thousand)
9.1.2.4 Sweet & Savory Snacks
9.1.2.4.1 Overview
9.1.2.4.2 Sweet & Savory Snacks Market Revenue and Forecast to 2030 (US$ Thousand)
9.1.2.5 Others
9.1.2.5.1 Overview
9.1.2.5.2 Others Market Revenue and Forecast to 2030 (US$ Thousand)
9.2 Personal Care
9.2.1 Overview
9.2.2 Personal Care Market Revenue and Forecast to 2030 (US$ Thousand)
9.3 Others
9.3.1 Overview
9.3.2 Others Market Revenue and Forecast to 2030 (US$ Thousand)
10. South & Central America Vanilla Extract Market – Country Analysis
10.1 South & Central America
10.1.1 South & Central America Vanilla Extract Market Revenue and Forecasts and Analysis – By Countries
10.1.1.1 South & Central America Vanilla Extract Market Breakdown by Country
10.1.1.2 Brazil Vanilla Extract Market Revenue and Forecasts to 2030 (US$ Thousand)
10.1.1.2.1 Brazil Vanilla Extract Market Breakdown by Form
10.1.1.2.2 Brazil Vanilla Extract Market Breakdown by Category
10.1.1.2.3 Brazil Vanilla Extract Market Breakdown by Application
10.1.1.3 Argentina Vanilla Extract Market Revenue and Forecasts to 2030 (US$ Thousand)
10.1.1.3.1 Argentina Vanilla Extract Market Breakdown by Form
10.1.1.3.2 Argentina Vanilla Extract Market Breakdown by Category
10.1.1.3.3 Argentina Vanilla Extract Market Breakdown by Application
10.1.1.4 Rest of South & Central America Vanilla Extract Market Revenue and Forecasts to 2030 (US$ Thousand)
10.1.1.4.1 Rest of South & Central America Vanilla Extract Market Breakdown by Form
10.1.1.4.2 Rest of South & Central America Vanilla Extract Market Breakdown by Category
10.1.1.4.3 Rest of South & Central America Vanilla Extract Market Breakdown by Application
11. Company Profiles
11.1 Prova SAS
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Natural Vanilla Pty Ltd
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Kerry Group Plc
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Archer-Daniels-Midland Co
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Synergy Flavors Inc
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
12. Appendix