Cinnamic
aldehyde is widely preferred in the households as a flavoring agent. The
product demand is majorly influenced by the rapidly growing food and beverage
industry across the regions. Escalating demand for the packaged food and
beverages from the working population owing to convenience and long shelf life
is uplifting the market growth. Prevalence of many online food delivery
applications such as Zomato and Food Panda in India are likely to boost the
product demand further.
Competitive Analysis
Some
of the key players in the global cinnamic aldehyde market are Kao Corporation
(U.S.), Emerald Performance Materials (U.S.), Finoric (U.S.), Jayshree
Aromatics Pvt Ltd (India), Muby Chemicals (India), Payan Bertrand S.A.
(France), LANXESS (Germany), Yingcheng Wuhan Organic Material Co., Ltd (China),
Merck KGaA , Sigma-Aldrich (Germany), and Graham Chemical (U.S.).
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Market Segmentation
The
global cinnamic aldehyde market is segmented into nature, application, end use
industry, and region. On the basis of nature, the market is segregated into
organic and synthetic. The synthetic cinnamic aldehyde is produced by reacting
benzaldehyde with acetaldehyde.
Based
on the application, the market is segmented into fragrance agent, flavor agent,
insecticides, anti-microbial, anti-cancer, oral care, animal feed, and others.
Flavor agent accounted for the largest market share as a result of increasing
use in the households and food & beverage industry. The product use, as a
fragrance agent, is increasing in deodorants, detergents, cleansers, and
cosmetics. Cinnamic aldehyde helps to fight against tooth decay, bad breath,
cure diabetes and reduce infections owing to antibacterial and antifungal
properties.
Based
on the end use industry, the market is divided into household, food &
beverages, cosmetic & personal care, agriculture, healthcare, and others.
The food & beverage industry accounted for the largest market share as a
result of increasing demand for nutritious food products and beverages. The
product consumption is rising in cosmetics & personal care industry with
growing prevalence of various cosmetics brands in the market such as L’Oreal,
Avon, and Lakme across the regions.
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Regional Analysis
Based
on the region, the cinnamic aldehyde market is segregated into North America,
Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Asia
Pacific is the fastest growing region in the cinnamic aldehyde market owing to
the increasing demand for nutritious food and energy drink with rising health
consciousness among the consumers. Increasing spending on the cosmetics &
personal care industry is driving the market growth further.
North
America is the second largest region in the cinnamic aldehyde market with
increasing spending on personal care products coupled with high per capita
income. Moreover, growing aging population coupled with rising health awareness
is uplifting the market growth.
Continued……
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