Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Vanilla Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the agro commodities and raw materials industry. This report breaks down the data and analysis behind the procurement of vanilla and acts as an all-inclusive guide for making smart purchasing decisions.

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Global Vanilla Procurement Market Intelligence Report (Graphic: Business Wire)

Global Vanilla Procurement Market Intelligence Report (Graphic: Business Wire)

“The increasing demand for flavors in various end-user sectors like food, bakery, confectionery, beverages, and pharmaceutical industries is driving the demand for vanilla-based products,” says SpendEdge procurement analyst A Kowshik. “Food brands such as Hershey's, Kellogg's, Nestle, and General Mills have stopped the use of artificial, synthetic flavors and additives and are using all-natural ingredients instead, this is expected to fuel the growth of the global vanilla market,” added Kowshik.

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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Vanilla Market:

  • Transition from direct purchasing model to a dealership-based procurement model
  • Increasing adoption of sustainable development programs for vanilla farmers
  • The broadening scope of adoption of all-natural food and beverages

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The transition from direct purchasing model to a dealership-based procurement model:

There is a rise in the transition from a direct purchasing model to a dealership-based procurement model by flavor-based manufacturers. The dealers involved in procurement are in direct contact with vanilla farmers and can help in developing effective procurement strategies for suppliers in this market space. Moreover, suppliers are entering into joint ventures with dealers to streamline their distribution process. Also, outsourcing the negotiation and procurement of vanilla beans may provide medium to long-term cost savings that can be shared with buyers.

Increasing adoption of sustainable development programs for vanilla farmers:

The need to source high-quality vanilla beans is a primary requirement for buyers in this market space. Thereby, compelling the buyers to collaborate with suppliers to develop initiatives that help farmers improve their productivity, raise disposable income, and promote community development. Moreover, these initiatives can be used as a strategy to broaden the manufacturer's reach to vanilla farmers.

The broadening scope of adoption of all-natural food and beverages:

Leading food and beverage firms across geographies have already transitioned or are in the phase of moving into all-natural products to eliminate artificial additives in terms of vanilla flavor. Moreover, the demand for natural and pure vanilla is on the rise after food manufacturers such as Nestle, Hershey's, General Mills, and Kellogg's discontinued the use of artificial flavoring. The adoption of natural food ingredients also helps in professionalizing and empowering farmers to continue their practice.

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