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MARKET OVERVIEW

1.1 Definition and scope of the study

Vanilla refers to the fruit of the Vanilla planifolia orchid, commonly known as the vanilla tree, which is found in the undergrowth of tropical rainforests. It comes in the form of a pod that has an aromatic scent and flavor. The transition from a scentless fruit to a richly aromatic spice requires a long and methodical process called "preparation".

The vanilla industry is divided into several steps:

  • The upstream part which comes down to the cultivation of the vanilla trees and the recovery of the fruit. It is carried out by tropical countries, in particular Madagascar, which accounts for about 80% of world production.
  • The primary downstream part which includes the transformation of the fruit into a spice with a methodic process called the "preparation". It sometimes takes place directly on the production site but is often carried out by Western multinationals.
  • The secondary downstream part, which refers to the production of finished products (pod, powder, paste, natural flavour, artificial flavour, syrup or sugar) distributed to end consumers who are mostly in developed countries.

Vanilla is mainly used in bakery products, but also as a perfume in cosmetics or in the manufacture of candles, beauty products, medical care products and home air fresheners for example.

The United States, France and Germany together account for about 80% of the global vanilla trade and are the main players in the downstream part of the value chain. Madagascar, on the other hand, provides the bulk of the world's vanilla supply, the upstream part. For the past 10 years, world production has been around 2500 tons per year.

Global players include Nielsen-Massey Vanillas, Heilala Vanilla Limited, Archer Daniels Midland, Givaudan, Sensient Flavors, Döhler, Lochhead Manufacturing, International Flavors & Fragrances.

While vanilla prices have exploded in recent years, the year 2020 seems to herald a fall in vanilla prices due to particularly high production. The global Covid-19 pandemic is also expected to strengthen this trend. Finally, while artificial vanilla is gaining ground, some vanilla-using domains remain faithful to the natural, supporting the development of more sustainable sources of supply with "organic" or "fair trade" products for example.

UK exports of vanilla increased dramatically between 2015 and 2016 and have continued to hover around those levels since then. This implies that vanilla products are increasingly brought into the island nation, whereby it is modified and finally re-distributed. Meanwhile, imports have also gone up; the same pattern around 2015 and 2016 can be seen. This implies that domestic consumption has also risen, providing proof of the market’s expansion.

DEMAND ANALYSIS

MARKET STRUCTURE

ANALYSIS OF THE OFFER

REGULATION

POSITIONING OF THE PLAYERS

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Analysts

Hugo S.

chargé d'études économiques, Xerfi

Hugo S.

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Mathieu Luinaud

Associate Consultant

Mathieu Luinaud

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Education Formation
Robin C.

PhD Industrial transformations

Robin C.

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Pierre D.

Analyst

Pierre D.

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Ross Alumni Club France

Arnaud W.

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Analyste de marché chez Businesscoot

Amaury de Balincourt

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Pierrick C.

Consultant

Pierrick C.

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Maelle V.

Project Finance Analyst, Consulting

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Héloise Fruchard

Etudiante en Double-Diplôme Ingénieur-Manager Centrale

Héloise Fruchard

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Imane E.

EDHEC

Imane E.

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Vincent D.

Auditeur

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Eva-Garance T.

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Michela G.

Market Research Analyst

Michela G.

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Azelie P.

Market Research Analyst @Businesscoot

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Cantiane G.

Market Research Analyst @Businesscoot

Cantiane G.

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Jules D.

Consultant

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Alexia V.

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Emil Ohlsson

Emil Ohlsson

Anna O.

Anna O.

Gabriel S.

Gabriel S.