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confectionery products in nations like, Malaysia, Indonesia, Vietnam, China, and India will impel market growth.
The bio vanillin industry will grow at a steady pace in regions, such as North America and Europe. North America is estimated to grow at a CAGR of over 5 %. Europe is estimated to expand at over 7 % CAGR in the years to come. Regulatory norms will play a crucial role in the development of these markets.
This product is widely used in a host of fragrances, foods, and drinks. Such a trend will contribute substantially to the growth of this market in the forthcoming years.
Major competitors in the global industry are Apple Flavors & Fragrances Group Company Limited, Solvay SA, International Flavors & Fragrances, and Ennloys. Companies engage in strategic partnerships & technological developments for occupying more shares.
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