Cinnamaldehyde Market (By Type: Flavor Agent, Aroma Agent, Antimicrobial Agent, Other Types of Product; By Application: Food and Beverages, Household & Personal Care Industry, Agriculture, Healthcare, Others) - Global Industry Size, Share, Trends and Forecast 2019 - 2026
The global cinnamaldehyde market is expected to grow at a CAGR of around 6.0% during the forecast period 2019 - 2026 and reach the market value of over US$ 330 Mn by 2026.
Cinnamaldehyde is also known as 3-phenyl-2-propenal, cinnamic, phenylalacrolein, cinnamal, cinnamyl aldehyde, and trans-cinnamaldehyde. It is a yellowish oily liquid with a sweet taste and a cinnamon smell that is liable for the typical taste and smell of cinnamon spice. Also it is used as a fungicide. Cinnamaldehyde has been proven to be efficient on over 40 distinct crops and is typically applied to plant root systems. It is perfect for agriculture due to its low toxicity and well-known characteristics. Cinnamaldehyde is an efficient insecticide to a lower extent, and its aroma is also known for repelling animals such as cats and dogs. Cinnamaldehyde is recognized in corrosive liquids as a steel corrosion inhibitor and other ferrous alloys. It can be used with extra parts such as dispersants, solvents and other surfactants. Concentrated cinnamaldehyde is a skin irritant and in large doses the chemical is toxic, but no agencies expect that the compound is a carcinogen or that it poses a long-term health hazard. Most cinnamaldehyde is excreted as an oxidized form of cinnamaldehyde in the urine as cinnamic acid.
Market Dynamics
Growing personal care, household, and food & beverage sector around the globe, increasing cinnamaldehyde applications in flavor and fragrance sectors, and simple access to cinnamaldehyde sources of raw materials are factors driving the development of the cinnamaldehyde market. Additionally, if undiluted, and the property of cinnamaldehyde may hinder market development. Due to the accessibility of better market & distribution channels, home care and personal care products noted a high level of penetration in emerging countries could provide several growth possibilities during the forecast period. Furthermore, development in cinnamaldehyde is driven due to expanding cosmetics & personal care sector with increasing consumer awareness combined with increasing per capita disposable income. Rapid growing consumption of personal care product due to increasing demand for various products such as detergents, shampoos, deodorants, and cleaners with various requirements.
Above pie-chart indicates the global market share by type of cinnamaldehyde in 2018. The global revenue for the cinnamaldehyde market in 2018 was around US$ 208 Mn with a CAGR of 6.18% during the forecast period 2019-2026. The market is segmented into type and application. Further type is bifurcated into flavor agent, aroma agent, antimicrobial agent, other type (anticancer agent, anti-diabetic, and anti-inflammatory). Flavor agent segment have significant growth during forecast period due to its increasing usage of cinnamaldehyde in food and pharmaceutical industry. Cinnamaldehyde is the major compound added to foods and medicines to enhance its quality in terms of aroma and taste. It is used as a flavoring agent in liquid refreshments, ice-creams, chewing gums and candy. It is used in perfumes to recreate the magic of fruity and interesting fragrance ranges. In addition to its uses as an herbal remedy, cinnamaldehyde is mostly used as a food additive to improve food products taste and/or odor. Most frequently used in cake mixes, chewing gums, chocolate products, synthetic oils for cinnamon, cola beverages, ice creams, soft drinks, and vermouth. In order to enhance their smell, the compound is also added to a number of cosmetics and home care products. These include deodorants, detergents, mouthwashes, perfumes, napkins, soaps, and toothpastes.
Food & beverage application segment is growing at significant growth due to antimicrobial property of cinnamaldehyde which is mostly used in food. Also, as an additive, cinnamaldehyde can also be more efficient while maintaining it in short-degree Celsius refrigerator temperatures to regulate the growth of the food-borne pathogen's psychrotrophic strains. An alternative way of creating cinnamaldehyde as essential oil in edible movies as well as wrapping offers a new strategy for upgrading the timeframe for realistic usability and safety in the food industry.
Report coverage
The market research study on “Cinnamaldehyde Market (Type: Flavor Agent, Aroma Agent, Antimicrobial Agent, Other Types of Product; Application: Food and Beverages, Household & Personal Care Industry, Agriculture, Healthcare, Others) – “Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”, offers a detailed insights on the global cinnamaldehyde market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global cinnamaldehyde market, its type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. The cinnamaldehyde market analysis is provided for major regional markets including North America, Europe, China, Southeast Asia, Japan and India followed by major countries. For each region, the market size for different segments has been covered under the scope of report. North America is prominent region for the cinnamaldehyde market due to rising demand for packaged foods and drinks. In this region product consumption in drinks is increasing due to increased demand for health and energy drinks. Increasing use of cinnamaldehyde in the agricultural industry also drives market growth, especially in the United States. Europe is projected to grow during forecast period, due to increasing consumption of package food products and drinks owing to comfort. Increasing spending on the healthcare industry is also rising demand of product due to growing geriatric population. Increasing income and demographic trends prompting China, Japan, and India's inclination toward luxury consumer goods will foster demand for products. In addition, household and personal care development industries will contribute significantly to business growth. The region of Latin America is anticipated to show significant development in terms of changing patterns of consumption and growing demand for packaged food and drinks. In addition, the existence of luxury brands in Brazil, including Natura Cosmeticos and Avon, is driving the development of the industry in this region. In Middle East & Africa, the beauty & personal care products market is not only motivated by vanity, but elements such as increasing consumerism, an increase in private income and an enhanced concentrate on beauty improvement goods also contribute to the growth of the market. The UAE is experiencing a trend in beauty and personal care premiumization, while the Saudi market is driven by increasing revenue rates, retail expansions and government initiatives to boost tourism.
The players profiled in the report are Merck KGaA, LANXESS, Ark Pharma, Inc., Payan Berthand S.A., Haihang Industry Co., Ltd., Indukern F&F, Aurochemicals, Finoric LLC, and among others.
Key strategies of chemical and material manufacturers:-
- Strategic Long-term Collaboration with Upstream Suppliers: From an early phase of development, close collaborations or joint ventures with key suppliers can lead to strong and long term relationship towards mitigating supply risks and reducing expenses
- Backward Integration, Contract Manufacturing or Acquisitions: Mostly major manufacturers of material and chemicals tend to be small and medium-sized businesses; this might be a feasible alternative. This operates well in instances of restricted competition and high strategic significance of the chemical
- In this category, the switching costs are very high and usually buyers prefer to stay with tried and tested products. Any new product in the market, whether it is a substitute or a alternative of the existing product, will undergo a strict approval process which will be time-consuming and expensive
- Price transparency is the main concern at the negotiating table as vendors are unable to provide chemical data to justify price revision
Market Segmentation
Market By Type
- Flavor Agent
- Aroma Agent
- Antimicrobial Agent
- Other Types of Product
Market By Application
- Food and Beverages
- Household & Personal Care Industry
- Agriculture
- Healthcare
- Others
Market By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Frequently Asked Questions
Why cinnamaldehyde?
Cinnamaldehyde is an efficient insecticide to a lower extent, and its aroma is also known for repelling animals such as cats and dogs.
What are the main driver of cinnamaldehyde market?
Growing personal care, household, and food & beverage sector around the globe are main driver of the cinnamaldehyde market.
What will be the market value of cinnamaldehyde in the forecast period 2019 to 2026?
According to Acumen Research And Consulting, the cinnamaldehyde market value is anticipated to be worth around US$ 330 million in 2026.
What will be the growth rate of cinnamaldehyde market during the forecast period 2019 to 2026?
The cinnamaldehyde market is anticipated to grow over 6.0% CAGR during the forecast period 2019 to 2026.
Which region held the maximum share in the cinnamaldehyde market?
North America held maximum share in 2018 for cinnamaldehyde market.
Which major regional study included in cinnamaldehyde market?
The cinnamaldehyde market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Which are the top key players operating in the cinnamaldehyde market?
Merck KGaA, LANXESS, Ark Pharma, Inc., Payan Berthand S.A., and Haihang Industry Co., Ltd. are the top players operating in the cinnamaldehyde market.
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