Cinnamic Aldehyde Market Size By Product (Aroma Agent, Flavor Agent, Antimicrobial Agent), By Source (Natural, Synthetic), By End-Use (Household & Personal Care, Food & Beverages, Agriculture, Healthcare), Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024
Published Date: Nov 2017 | Report ID: GMI1385 | Authors: Kunal Ahuja, Amit Rawat
Global Cinnamic Aldehyde Market size was worth over USD 1 Billion in 2016 and will surpass 150 Kilo Tons by 2024.
Get more details on this report - Request Free Sample PDF
Potential applications in household care, personal care and agriculture industries will drive cinnamic aldehyde market growth. Rising demand from food & beverages industry accompanied by increasing consumer spending on food are among key factors propelling product penetration. As per industry experts, global food flavouring industry is anticipated to exceed USD 15 billion by 2024. Abundant availability of raw materials particularly in South Asia fostering flavours & fragrances production will stimulate product demand.
Changing food habits due to hectic schedules and changing lifestyles enhancing fast food industry will support industry demand. Growth in aroma chemical industry supported by rapid industrialization globally will significantly drive cinnamic aldehyde market expansion. As per industry projections, global aroma chemicals industry is anticipated to value over 6.4 billion by 2023.
Increasing flavour & fragrance consumption in numerous applications including bakery products, beverages and perfumes will support product scope. Moreover, rising demand from consumer goods including soap, shampoos, fabrics softeners & other toiletries are major fuelling factors of industry growth. Increasing investments in FMCG industry due to its high potential is expected to propel industry demand.
Strong outlook in agricultural applications, owing to antimicrobial properties making the product preferable as fungicide will support the cinnamic aldehyde market growth. Efficient reduction of blood sugar levels in type II diabetes mellitus coupled with expansion in pharmaceutical industry has enhanced product demand. Highly effective prevention from cancer causing bacteria enabling anti-cancer activities will propel product scope in healthcare applications.
Easy availability of rich raw material sources including cinnamon is among key driving factor of industry demand. Efficient blending properties and aroma fixing properties have enhanced in the product demand in perfume and scent production. Furthermore, reduced toxicity and high viscosity are supporting properties of product demand.
High research & development expenditures associated with organic products coupled with fluctuating cinnamon prices are the key factors affecting cinnamic aldehyde market price trend. However, increasing health concerns including skin irritation if used undiluted is major restraining factor of industry growth.
|Historical Data for:||2013 to 2016||Forecast Period:||2017 to 2024|
|Pages:||300||Tables, Charts & Figures:||263|
|Geographies covered (25):||U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, China, India, Japan, South Korea, Australia, Thailand, Indonesia, Brazil, Mexico, Venezuela, Argentina, Saudi Arabia, UAE, South Africa, Egypt, Iran|
|Segments covered:||Product, Source, End-Use, and Region|
|Companies covered (20):||Emerald Kalama Chemical, Kalpsutra Chemicals, Vee Kay International, Graham Chemical, LANXESS, Aurochemicals, Kao Global Chemicals, Bide Pharmatech, Prakash Chemicals International, Jayshree Aromatics, ECSA Chemicals, Elan, Symrise, Taytonn, SRS Aromatics, John D. Walsh Company, Treatt, M&U International, Lansdowne Chemicals, Indukern F&F|
Cinnamic Aldehyde Market, By Product
Flavour agent is anticipated to value more than USD 650 million by 2024. Extensive flavour consumption in food & beverages application to enhance taste and quality will propel product demand. Shifting consumer preference towards flavour enhancing confectionery including chewing gum, ice cream and candy will further encourage product demand. Moreover, rising health awareness coupled with increasing disposable incomes will stimulate cinnamic aldehyde market size.
Aroma agent accounted for over 40% of cinnamic aldehyde market share in 2016. Increasing awareness about aroma chemicals with floral fragrance among several perfumers and aromachologists will drive industry growth. Cinnamic aldehyde are widely used in production of perfumes and scents. Increasing product usage in production of rose, lily, almond, apricot, butterscotch, coffee and other aromas are factors positively influencing product scope. Furthermore, increased consumer interest and spending on personal hygiene and grooming is expected to drive cinnamic aldehyde market size.
Cinnamic Aldehyde Market, By Source
Natural source accounted for over 80% of the overall cinnamic aldehyde market in 2016. Strong demand for organic processed food & beverages remains the key growth factor for the segment penetration. Natural flavours are derived through extraction, distillation and other biotechnological processes from plant, vegetable, fruit and various natural resources. Moreover, increasing consumer health concerns along with high availability of naturally sourced products will positively drive business growth.
Synthetic source will witness growth over 6.5% up to 2024. Shifting manufacturer focus towards cost-effective production process have enhanced the synthetic sourced product demand. Technological advancements in synthesis of aldol condensation of acetaldehyde and benzaldehyde will propel industry demand.
Cinnamic Aldehyde Market, By End-Use
Agriculture industry was valued over USD 140 million in 2016 due to increasing product utilization in providing strength to root systems of more than 40 different crops. High product potential as fungicide and insecticide due to its smell repelling several unwanted crop insects, particularly mosquito larvae will drive business growth. As per agriculturalists, concentration of 29 ppm of the product kills more than half of aedes aegypti mosquito larvae within a day. Strong application as potent fumigant and practical repellent for adult mosquitos is further projected to fuel cinnamic aldehyde market size during the forecast period.
Food & beverages will witness CAGR at over 6.5% up to 2024 due to surge in the global FMCG industry with high product availability and diversification. In addition, intense price-based competition in global FMCG market have influenced shifting manufacturer focus on synthetic and economical manufacturing process of flavours.
Cinnamic Aldehyde Market, By Region
Asia Pacific dominated the industry share accounting for over 35% in 2016. Easy and abundant availability of cinnamon is among major driver of the industry growth. Increasing consumer spending on food & beverages coupled with rising number of manufacturing facilities will support regional demand. Changing demographic and income trends triggering inclination towards luxurious consumer goods particularly in India, China, Indonesia and Japan will positively impact product scope. Furthermore, expansion in household care & personal care industry will substantially contribute to cinnamic aldehyde market growth.
North America is anticipated to witness gains exceeding 6% up to 2024. Presence of well-established pharmaceutical companies along with high level of research and development activities are key factors driving industry demand. Increasing number of perfume producing facilities in the region is another factor driving industry expansion.
Competitive Market Share
Global cinnamic aldehyde market share is highly fragmented owing to the presence of both local and international manufacturers. Emergence of synthetic production leading to ease in manufacturing further increased number of product manufacturers. Emerald Kalama Chemical, Kalpsutra Chemicals, Vee Kay International, Graham Chemical, LANXESS, Aurochemicals, Indukern F&F, Kao Global Chemicals and Bide Pharmatech are among major industry players.
Increasing competition between new entrants and existing players expected to augment new product development over the forecast period. The manufacturers are expected to adopt numerous strategic approaches including mergers & acquisitions, partnerships and supply agreements to increase their customer base. Other prominent industry participants include Prakash Chemicals International, Jayshree Aromatics, ECSA Chemicals, Elan, Symrise, Taytonn, SRS Aromatics, Treatt, M&U International and Lansdowne Chemicals.
Increased product consumption in the FMCG sector to enhance fragrances in cleaners, deodorants, detergents, fabrics softeners, soaps and shampoos will create new growth avenues during the forecast period. Rapid industrialization accompanied by technological innovations for FMCG products are key driving factors for cinnamic aldehyde market growth.
Intense competition among manufacturers has caused reduction in cost to lower the product prices. High availability of affordable care products has further improved the surge in the product demand. Moreover, integrated supply chains are the key strategies adopted by the players in several industries.
Why Global Market Insights, Inc.?
- GMI is unparalleled when to comes to the quality of research and information provided to clients. Our unique methodology is designed to ensure a minimum of 90% accuracy to give our clients excellent value on their investment.
Over 200 experts are available across various time-zones, ready to serve clients for their research needs. Our industry experts help clients to design reports customized to their needs.