Global Vanilla Market 2024

Vanilla Market Size

In 2022, the global vanilla market increased by X% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Global consumption peaked in 2022 and is expected to retain growth in the near future.

Vanilla Production

In value terms, vanilla production fell to $X in 2022 estimated in export price. Overall, production enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, global production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Madagascar (X tons), Indonesia (X tons) and Mexico (X tons), together comprising X% of global production.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of X%), while production for the other global leaders experienced more modest paces of growth.

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Vanilla Exports

Exports

In 2022, overseas shipments of vanilla increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The global exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, vanilla exports dropped to $X in 2022. Over the period under review, exports saw a prominent increase. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the global exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Madagascar (X tons) was the key exporter of vanilla, constituting X% of total exports. France (X tons) ranks second in terms of the total exports with a X% share, followed by Papua New Guinea (X%), Turkey (X%), Canada (X%), the United States (X%) and Indonesia (X%). The following exporters - the Netherlands (X tons), Germany (X tons), China (X tons) and South Africa (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to vanilla exports from Madagascar stood at X%. At the same time, the Netherlands (X%), Papua New Guinea (X%), the United States (X%), South Africa (X%), Turkey (X%), China (X%), Indonesia (X%) and Canada (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. France experienced a relatively flat trend pattern. By contrast, Germany (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Papua New Guinea, the Netherlands, the United States and Turkey increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Madagascar ($X) remains the largest vanilla supplier worldwide, comprising X% of global exports. The second position in the ranking was held by France ($X), with a X% share of global exports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Madagascar stood at X%. In the other countries, the average annual rates were as follows: France (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2022, the average vanilla export price amounted to $X per ton, which is down by X% against the previous year. In general, the export price, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2016 when the average export price increased by X%. The global export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Madagascar ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (X%), while the other global leaders experienced more modest paces of growth.

Vanilla Imports

Imports

In 2022, the amount of vanilla imported worldwide rose remarkably to X tons, picking up by X% compared with the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Global imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, vanilla imports expanded to $X in 2022. In general, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Over the period under review, global imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons), distantly followed by France (X tons), Indonesia (X tons), Germany (X tons), Canada (X tons) and the UK (X tons) were the major importers of vanilla, together creating X% of total imports. Syrian Arab Republic (X tons), the Netherlands (X tons), Belgium (X tons), Spain (X tons), Saudi Arabia (X tons) and Denmark (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Syrian Arab Republic (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest vanilla importing markets worldwide were the United States ($X), France ($X) and Germany ($X), together comprising X% of global imports. Canada, the Netherlands, Indonesia, Belgium, the UK, Denmark, Spain, Saudi Arabia and Syrian Arab Republic lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vanilla import price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Global import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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