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.
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 globally. The product
consumption is increasing in personal care products due to surging demand for
detergents, shampoo, deodorants, and cleansers with different specifications.
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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.
Europe is
another significant region in the market due to growing food & beverage
industry with increasing consumption of packaged food products among working
population.
Latin
America and the Middle East & South Africa regions are likely to witness
moderate growth during the review period with significant growth of cosmetics
and personal care industry.
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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