Vanilla market overview refers to a massive production and trade activity; this comes as a result for the beloved vanilla flavor all over the world. In 2023, the vanilla production its estemations at approximately 27000 metric tons. Madagascar has been leading this huge production, contributing 80% of the global vanilla supply. Additionally, Mexico and Indonesia were significant producers and played a crucial role in the market.
Vanilla global exports and imports
Regarding global trade, Madagascar’s vanilla exports its contribution 70% of the global market share, it’s total exports recently has a value at $600 million in 2023. For imports, United States comes as the world’s largest importer. It consumes about 40% of global vanilla imports. U.S. imports recently has a value at $400 million. Lastly, France and Germany came as notable importers, showcasing Europe’s high demand for vanilla products.
A leading company in vanilla importation is: Givaudan SA
Key players in the vanilla market
Globally, there’re leading companies which are pivotal in both production and distribution, the following 3 companies are key players in the market:
· International flavors and fragrances (IFF)
By following best sourcing practices, supporting and educating the farmers, in addition to developing efficient quality control systems, they ensure that every batch meets the highest quality standards.
Vanilla types and industries
Vanilla is available in 3 main forms, each form works for different culinary purposes. The three vanilla forms are: liquid extract, powder, and whole beans. Lastly, the liquid extract is the most popular form due to its versatility and ease of use.
Vanilla is also has a use in several industries including food and beverages, cosmetics, and pharmaceuticals. Besides, its utilization in baked cakes, perfumes, ice creams, and some medical products due to its favorable aromatic properties.
vanilla’s cultivation has a start in Mexico and later spread to other tropical areas, and it was considered a luxurious item accessible only to the rich.
Also read: Chamomile international trade
