Cinnamic Aldehyde Market Size

Cinnamic Aldehyde Market Size

Global Cinnamic Aldehyde Market size was worth over USD 1 Billion in 2016 and will surpass 150 Kilo Tons by 2024.

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.