Latin America Vanilla Extract Market Size & Outlook
The vanilla extract market in Latin America is expected to reach a projected revenue of US$ 443.5 million by 2030. A compound annual growth rate of 4.3% is expected of Latin America vanilla extract market from 2024 to 2030.
Revenue, 2023 (US$M)
$329.4
Forecast, 2030 (US$M)
$443.5
CAGR, 2024 - 2030
4.3%
Report Coverage
Latin America
Latin America vanilla extract market, 2018-2030 (US$M)
Latin America vanilla extract market highlights
- The Latin America vanilla extract market generated a revenue of USD 329.4 million in 2023.
- The market is expected to grow at a CAGR of 4.3% from 2024 to 2030.
- In terms of segment, food and beverage was the largest revenue generating application in 2023.
- Food and Beverage is the most lucrative application segment registering the fastest growth during the forecast period.
Latin America data book summary
| Market revenue in 2023 | USD 329.4 million |
| Market revenue in 2030 | USD 443.5 million |
| Growth rate | 4.3% (CAGR from 2023 to 2030) |
| Largest segment | Food and beverage |
| Fastest growing segment | Food and Beverage |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Food and Beverage |
| Key market players worldwide | Eurovanille, Symrise AG, International Flavors & Fragrances Inc, ADM, McCormick & Co Inc, Givaudan SA |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.0% of the global vanilla extract market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,834.8 million by 2030.
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Vanilla Extract Market Scope
Vanilla extract market segmentation & scope
Nature
Organic
Synthetric
Form
Liquid
Powder
Countries
U.S.
Canada
Mexico
UK
Spain
Italy
Germany
France
Brazil
Australia
China
India
Japan
South Korea
South Africa
Vanilla Extract Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Related regional statistics
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