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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