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Asia Pacific Vanillic Acid Market Size, Share & Trends Analysis Report By Purity (Purity 98%, Purity 99%, and Others), By Application (Flavors & Fragrances, Pharmaceutical Intermediates, and Others), By Country and Growth Forecast, 2024 - 2031

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    Report

  • 114 Pages
  • April 2024
  • Region: Asia Pacific
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5955365
The Asia Pacific Vanillic Acid Market would witness market growth of 2.3% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 9,660.4 tonnes, showcasing a growth of 9.3% (2020-2023).

In the Vanillic Acid market, a purity level of 99% represents a premium grade product sought after for its exceptional quality and reliability. With a purity of 99%, Vanillic Acid meets stringent standards, ensuring consistency and effectiveness in various applications across industries such as food and beverage, pharmaceuticals, and cosmetics. Therefore, the China market would consume 1,106.5 tonnes of 99% pure Vanillic Acid by 2031.



The China market dominated the Asia Pacific Vanillic Acid Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,555.5 million by 2031. The Japan market is exhibiting a CAGR of 2.1% during (2024 - 2031). Additionally, The India market would experience a CAGR of 2.9% during (2024 - 2031).

There is growing interest in functional foods and nutraceuticals that offer health benefits beyond basic nutrition. It is known for its antioxidant, anti-inflammatory, and antimicrobial properties, is gaining attention as a functional ingredient in dietary supplements, functional beverages, and fortified food products. It targets various health concerns such as inflammation, oxidative stress, and digestive health.

In addition, the market is witnessing growth and expansion, driven by increasing demand from emerging economies, technological advancements, and shifting consumer preferences. Manufacturers are exploring new market opportunities, expanding distribution networks, and forging strategic partnerships to capitalize on the growing demand for vanillic acid.

South Korea is renowned for its innovative and cutting-edge cosmetic formulations, often referred to as K-beauty or Korean beauty products. As South Korean cosmetic companies continue introducing novel skincare, makeup, and hair care products, there is a growing demand for unique and effective ingredients like vanillic acid to differentiate their formulations and cater to consumer preferences. As per the data from the International Trade Administration, for 2021, the total value of cosmetics produced in South Korea was $14.5 billion, and cosmetics exports hit a record high, growing 21.3 percent from the previous year to $9.2 billion. South Korea’s trade surplus in the cosmetics sector grew by 28.6 percent to $7.8 billion. Therefore, the expansion of the pharmaceutical industry and the rising cosmetics industry in the region is propelling the market’s growth.

Based on Purity, the market is segmented into Purity 98%, Purity 99%, and Others. Based on Application, the market is segmented into Flavors & Fragrances, Pharmaceutical Intermediates, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.

List of Key Companies Profiled

  • Solvay SA
  • Lanxess AG
  • Parchem Fine and Specialty Chemicals, Inc.
  • Biosynth AG (Carbosynth Ltd.)
  • Cayman Chemical Company, Inc.
  • Merck Millipore (Merck Group)
  • Tokyo Chemical Industry Co., Ltd.
  • Otto Chemie Pvt. Ltd.
  • Santa Cruz Biotechnology, Inc.
  • Spectrum Chemical Mfg. Corp.

Market Report Segmentation

By Purity (Volume, Tonnes, USD Billion, 2020-2031)
  • Purity 98%
  • Purity 99%
  • Others
By Application (Volume, Tonnes, USD Billion, 2020-2031)
  • Flavors & Fragrances
  • Pharmaceutical Intermediates
  • Others
By Country (Volume, Tonnes, USD Billion, 2020-2031)
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Vanillic Acid Market, by Purity
1.4.2 Asia Pacific Vanillic Acid Market, by Application
1.4.3 Asia Pacific Vanillic Acid Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Opportunities
3.2.3 Market Restraints
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis
Chapter 4. Asia Pacific Vanillic Acid Market by Purity
4.1 Asia Pacific Purity 98% Market by Country
4.2 Asia Pacific Purity 99% Market by Country
4.3 Asia Pacific Others Market by Country
Chapter 5. Asia Pacific Vanillic Acid Market by Application
5.1 Asia Pacific Flavors & Fragrances Market by Country
5.2 Asia Pacific Pharmaceutical Intermediates Market by Country
5.3 Asia Pacific Others Market by Country
Chapter 6. Asia Pacific Vanillic Acid Market by Country
6.1 China Vanillic Acid Market
6.1.1 China Vanillic Acid Market by Purity
6.1.2 China Vanillic Acid Market by Application
6.2 Japan Vanillic Acid Market
6.2.1 Japan Vanillic Acid Market by Purity
6.2.2 Japan Vanillic Acid Market by Application
6.3 India Vanillic Acid Market
6.3.1 India Vanillic Acid Market by Purity
6.3.2 India Vanillic Acid Market by Application
6.4 South Korea Vanillic Acid Market
6.4.1 South Korea Vanillic Acid Market by Purity
6.4.2 South Korea Vanillic Acid Market by Application
6.5 Singapore Vanillic Acid Market
6.5.1 Singapore Vanillic Acid Market by Purity
6.5.2 Singapore Vanillic Acid Market by Application
6.6 Malaysia Vanillic Acid Market
6.6.1 Malaysia Vanillic Acid Market by Purity
6.6.2 Malaysia Vanillic Acid Market by Application
6.7 Rest of Asia Pacific Vanillic Acid Market
6.7.1 Rest of Asia Pacific Vanillic Acid Market by Purity
6.7.2 Rest of Asia Pacific Vanillic Acid Market by Application
Chapter 7. Company Profiles
7.1 Solvay SA
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 SWOT Analysis
7.2 Lanxess AG
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expenses
7.2.5 SWOT Analysis
7.3 Parchem Fine and Specialty Chemicals, Inc.
7.3.1 Company Overview
7.3.2 SWOT Analysis
7.4 Biosynth AG (Carbosynth Ltd.)
7.4.1 Company Overview
7.4.2 SWOT Analysis
7.5 Cayman Chemical Company, Inc.
7.5.1 Company Overview
7.5.2 SWOT Analysis
7.6 Merck Millipore (Merck Group)
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expense
7.6.5 SWOT Analysis
7.7 Tokyo Chemical Industry Co., Ltd.
7.7.1 Company Overview
7.7.2 SWOT Analysis
7.8 Otto Chemie Pvt. Ltd.
7.8.1 Company Overview
7.8.2 SWOT Analysis
7.9 Santa Cruz Biotechnology, Inc.
7.9.1 Company Overview
7.9.2 SWOT Analysis
7.10. Spectrum Chemical Mfg. Corp (Spectrum Laboratory Products, Inc.)
7.10.1 Company Overview
7.10.2 SWOT Analysis

Companies Mentioned

  • Solvay SA
  • Lanxess AG
  • Parchem Fine and Specialty Chemicals, Inc.
  • Biosynth AG (Carbosynth Ltd.)
  • Cayman Chemical Company, Inc.
  • Merck Millipore (Merck Group)
  • Tokyo Chemical Industry Co., Ltd.
  • Otto Chemie Pvt. Ltd.
  • Santa Cruz Biotechnology, Inc.
  • Spectrum Chemical Mfg. Corp.

Methodology

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