Market Overview The global vanilla market was valued at USD 2,715.93 million in 2020, and it is projected to register a CAGR of 5.64% during the forecast period (2021-2026). The COVID-19 pandemic unleashed a series of events affecting the entire supply chain of the food and beverage industry.
How big is the vanilla market?
US$ 23.70 billion
The Global Vanilla Market is predicted to witness US$ 34.42 billion by 2027 from US$ 23.70 billion in 2022 and with a growing CAGR of 5.7% during the estimated period, i.e. 2022-2027.
Who is world’s biggest producer of vanilla?
Madagascar
The biggest producer of vanilla is Madagascar (2900 tons), followed by Indonesia (2300 tons), China (885 tons), Mexico and Papua New Guinea. There are only 15 countries in the world producing vanilla.
Is the world running out of vanilla?
However, at the moment there is a real shortage of natural vanilla, as the vanilla bean cannot meet the demand due to challenging growing conditions, labor exploitation, and deforestation in Madagascar. Dr. Ian Klein claims he can solve that by producing natural vanilla from the abundant corn fiber.
Who buys the most vanilla?
In 2020, the top exporters of Vanilla were Madagascar ($539M), Indonesia ($66.9M), France ($64.8M), Germany ($55.3M), and Papua New Guinea ($40M). In 2020, the top importers of Vanilla were United States ($378M), France ($146M), Germany ($109M), Netherlands ($40.8M), and Canada ($37M).
Is there a vanilla shortage 2022?
The weak flowering is an early season indicator suggesting that the 2022/23 vanilla production in Madagascar is most likely to decline y-o-y. Some market sources have already classified the potential production shortfall as ‘several hundred tonnes’.
What is the most expensive vanilla bean?
Tahitian vanilla beans
Tahitian vanilla beans are the most expensive type of vanilla bean, but don’t let that deter you. These vanilla beans have a superb flavor and aroma.
Where is the best vanilla grown?
Madagascar
Combined with the hot, humid climate and rich soil, hand pollination by the country’s skilled and patient farmers has enabled Madagascar to become the world’s top vanilla producer in both quantity and quality.
Why is vanilla so expensive to produce?
One reason vanilla has gotten so expensive is, it’s hard to grow. Vanilla vines take two to four years to fully mature, and their flowers only bloom for one day of the year. In order for the plants to produce beans, they have to be pollinated that day.
Where does the best vanilla in the world come from?
Tahitian vanilla beans that are derived from the vanilla plant in Papua New Guinea are regarded as the ‘best of the best’ in the vanilla world. The bean is wider and flatter than the more common Bourbon beans and when cured, is fruity and floral on the nose.
Can vanilla go extinct?
Common foods and ingredients from South and Central America are facing extinction. Vanilla is the highest crop facing extinction. Wild bean, squash, chilli pepper, husk tomato, Banana, apple, prunes and ginger are also endangered.
Why is growing vanilla hard?
The cultivation of vanilla is extremely labor-intensive. The plants themselves don’t even start producing vanilla beans until after three years. When they finally do bloom, the flowers only stay open for one day and have to be carefully pollinated within 12 hours of blooming.
How much do vanilla farmers make?
Madagascar’s Bourbon vanilla is a high-value crop on as little as 0.5 hectare land size, with average annual net income potential of $1,500–5,800 per hectare for green vanilla, and $3,000–9,990 for cured vanilla over a six-year period.
What is the market price for vanilla?
The price in Indian Rupee is INR 10890.22 per kg.
Where does US import vanilla from?
At the same year, Vanilla was the 525th most imported product in United States. United States imports Vanilla primarily from: Madagascar ($250M), Indonesia ($47.1M), Canada ($32.7M), France ($10M), and Germany ($5.86M).
What companies use vanilla?
Oetkar, McCormick, Wilton, and Nielsen Massey are some of the key companies with a significant market share in the global vanilla extracts market.
Will the price of vanilla go down?
Cured vanilla beans are currently hovering around $450 to $500 a kilo. We expect they could dip to the $300 to $400 range by the end of the year. If the fall pollination season signals a big 2019 crop, prices could potentially drop as low as $250 a kilo early next year.
What is the current crisis with vanilla bean farming?
The vanilla market in Madagascar has been impacted by the adoption of natural flavors and climate change. Substantial usage of natural vanilla is permanently lost to vanilla substitutes. Worldwide consumption of vanilla is somewhere around 2,000-2,500 MT per year.
What items will be in short supply 2022?
4 Notable Product Shortages in 2022
- Groceries and Food. Empty shelves are becoming common in groceries across North America and Europe.
- Aluminum. One of the main reasons canned goods are harder to find in stores is the tight supply of aluminum, which is a major component in the manufacture of cans.
- Semiconductors.
- Tampons.
Why is Mexican vanilla so cheap?
Artificial vanilla extract is affordable, and is the vanilla extract predominantly sold in countries that produce vanilla beans. This is the paradox of vanilla’s hand-crafted production. That’s why in Mexico, even though the country grows very fine beans, artificial vanillas dominate the market.
Why is vanilla extract so expensive 2022?
The plant that produces vanilla is extremely difficult to grow and from growth to export, the process of creating vanilla extract takes a year. If starting with a cutting, it’ll take two to four years until flower production, depending on whether you’re starting with a large or small cutting.
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