Vanilla beans are widely accepted for commercial as well as domestic use. Its application is seen in different industries such as food and beverage industry, personal care industry, cosmetic industry, and nutraceutical industry. Of these industries, vanilla beans are extensively used in food and beverages industries for manufacturing vanilla ice creams. Moreover, increasing demand for flavored foods from customers has also fueled demand in this market. Apart from food and beverages industry, demand for vanilla bean has grown nutraceutical products and natural vanilla in functional foods. Growing prevalence of obesity, cardiovascular diseases, and other ailments across the globe also increased intake of these food products. This factor will further accelerate growth in the global vanilla bean market.
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Furthermore, vanilla bean is favored for its rich antioxidant content by large number of consumers. Rising knowledge about the benefits of vanilla bean such as it helps in losing weight, reduces acne, and preventing hair loss. In addition, the benefit of weight loss after using vanilla beans, its demand has also grown in protein powders. Owing to this, vanilla bean protein powder has gained huge popularity among fitness enthusiast.
Climatic Condition Challenging Growth in Global Vanilla Bean Market
Madagascar is one of the largest producer and exporter of vanilla bean. Some of the other top producers of vanilla bean are Mexico, China, Indonesia, and Papua New Guinea. But increasing prices of vanilla bean might deter growth in the global vanilla bean market. Changing climatic conditions in vanilla bean producing countries has further increased prices and distributed production of vanilla bean. This factor is also expected to challenge growth in the global vanilla bean market. Owing to these facts, there has been a rise in illegal trade of vanilla bean. Moreover, lack of adequate storing of vanilla bean and vacuum packing that partially cured vanilla beans has also increased concerns in this market. Therefore, producers need to be more conscious and put more efforts to expand the global vanilla bean market.
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