Cinnamic Aldehyde Market Analysis

Cinnamic Aldehyde Market Analysis

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.
 

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. 
 

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.
 

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.