Cinnamic Aldehyde Market is projected to be worth USD 8.8 Billion by 2030, registering a CAGR of 5.2% during the forecast period (2022 - 2030).
Cinnamic Aldehyde Market Overview
Cinnamic Aldehyde Market is projected to be worth USD 8.8 Billion by 2030, registering a CAGR of 5.2% during the forecast period (2022 - 2030). Another name for Cinnamic Aldehyde is cinnamaldehyde, which is an organic compound occurring naturally in the bark of cinnamon trees. The various other species of cinnamon are camphor and cassia. It produces naturally by forming a reaction between benzaldehyde such as isovanillin and acetaldehyde. Cinnamaldehyde is commonly used as a flavor and fragrance agent in the food & beverage and, cosmetics & personal care industries.
Cinnamic aldehyde is primarily used in households as a flavoring agent. The product demand is influenced by the increasing growth of the food and beverage industry all across the regions. The working population's growing requirement for convenience and long shelf life uplifts market growth by escalating demand for packaged food and beverages. The increasing development of many online food delivery applications such as Zomato and Food Panda in India will likely boost the product demand.
The rapid expansion in the cosmetics & personal care industry, growing appearance consciousness among consumers, and rising per capita disposable income are driving the cinnamic aldehyde growth globally. Product consumption increases in unique care products due to surging demand for shampoo, deodorants, detergents, and cleansers with different specifications.
Global Cinnamic Aldehyde Market share, by the application (%)
The Asia Pacific is the fastest growing region in the cinnamic aldehyde market with the growing demand for nutrition-rich beverages for improved health. Growing food and beverages industry as a result of rising influence of western eating habits among the consumers in the developing economies is propelling the market growth. Expanding cosmetics & personal care industry with increasing spending on cosmetic products by the consumers for their grooming is fuelling the product demand. Increasing investment in the production of crops and other agricultural products coupled with expanding population is driving the market growth.
North America is another prominent region in the cinnamic aldehyde market as a result of surging demand for the packaged food and beverages. The product consumption is increasing in beverages due to increasing demand for health and energy drinks. Moreover, growing use of cinnamic aldehyde in the agriculture industry, especially in the U.S. is propelling the market growth.
Europe is likely to witness a significant growth during the review period with increasing consumption of packaged food products and beverages due to convenience. Additionally, increasing spending on the healthcare industry due to rising aging population is stimulating the product demand.
Latin America region is expected to exhibit a considerable growth with respect to change in consumption patterns and increasing demand for the packaged food and beverages. Additionally, the presence of luxury brands in Brazil such as Natura Cosmeticos and Avon among others are driving the market growth in this region.
The Middle East and Africa are likely to witness a moderate growth during the review period with growing demand for packaged food products and increasing spending on the cosmetics & personal care products.
The global cinnamic aldehyde market is segmented into nature, application, end use industry, and region.
On the basis of the nature, the market is segregated into organic and synthetic.
Based on the application, the market is segmented into fragrance, flavor, insecticides, anti-microbial, anti-cancer, oral care, animal feed, and others.
Based on the end use industry, the market is divided into household, food & beverages, cosmetic & personal care, agriculture, healthcare, and others.
Based on the region, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Some of the key players in the global cinnamic aldehyde market are Emerald Performance Materials (U.S.), Finoric (U.S.), Jayshree Aromatics Pvt Ltd (India), Kao Corporation (U.S.), LANXESS (Germany), Muby Chemicals (India), Payan Bertrand S.A. (France), Yingcheng Wuhan Organic Material Co., Ltd (China), Graham Chemical (U.S.), and Merck KGaA , Sigma-Aldrich (Germany).Recent Development
|Market Size||2030 : Significant value|
|CAGR||(2022- 2030): Substantial CAGR|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Nature, Application, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Emerald Performance Materials (U.S.), Finoric (U.S.), Jayshree Aromatics Pvt Ltd (India), Kao Corporation (U.S.), LANXESS (Germany), Muby Chemicals (India), Payan Bertrand S.A. (France), Yingcheng Wuhan Organic Material Co., Ltd (China), Graham Chemical (U.S.), and Merck KGaA , Sigma-Aldrich (Germany).|
|Key Market Opportunities||Growing demand for organic agricultural activities with escalating demand for nutritious food products among health-conscious consumer is influencing the market growth.|
|Key Market Drivers||Rapidly expanding cosmetics & personal care industry with growing appearance consciousness among the consumers coupled with rising per capita disposable income is driving the cinnamic aldehyde growth|
Asia Pacific is predicted to dominate the cinnamic aldehyde during the forecast period.
Key players profiled in the cinnamic aldehyde market include Sigma-Aldrich (Germany), Merck KGaA, Graham Chemical (U.S.), Yingcheng Wuhan Organic Material Co., Ltd (China), Payan Bertrand S.A. (France), Muby Chemicals (India), Kao Corporation (U.S.), LANXESS (Germany), Jayshree Aromatics Pvt Ltd (India), Finoric (U.S.), and Emerald Performance Materials (U.S.).
Key players have incorporated specific strategies such as R&D activities, acquisitions, mergers, joint ventures, and others to stay head and shoulders above others in the competition.
Booming food & beverage industry, growing demand for packaged food & beverages, expanding cosmetics and personal care industry, and increasing use in oral care are boosting the market growth.
It helps to fight bad breath, tooth decay, reduce infections, and cure diabetes.