Cinnamic Aldehyde Market REPORT OVERVIEW
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global cinnamic aldehyde market size was USD 981.7 million in 2022 and market is projected to touch USD 1402.28 million by 2031 at CAGR 3.7% during the forecast period.
The COVID-19 pandemic has been unprecedented and staggering, cinnamic aldehyde experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
Cinnamaldehyde, also known as cinnamamic aldehyde, is a chemical substance found naturally in the barks of cinnamon trees along with other cinnamon plants including camphor and cassia. It can be formed naturally by generating a reaction between benzaldehyde and acetaldehyde. Cinnamaldehyde is primarily employed in the food and beverage, cosmetics, and personal care sectors as a scent and flavoring agent.
This advanced material is a flavoring ingredient that is frequently used in households. The rapidly expanding food and beverage business in the regions has a significant impact on product demand. The working population's increasing demand for packaged foods and drinks due to accessibility and their extended shelf life is driving market expansion.
COVID-19 Impact: Interruption in Services to Deplete Market Growth
The swift spread of coronavirus proved to be a significant influence on global cinnamic aldehyde market growth, since major economies around the world were gone into lockdown. Furthermore, the marketplace was facing the closure of all forms of international transit. The chemical, on the other hand, is usually found in things classified as essential goods. As a result, a slowdown in the transportation sector and a global lockout had a significant impact on market growth.
LATEST TRENDS
"Low Environmental Impact of the Chemical to Stimulate Market Development "
The simple accessibility of rich sources of raw materials, such as cinnamon, is a fundamental driver of industry demand. Product demand for perfume and scent manufacture has increased due to efficient combining properties and fragrance fixing properties. Furthermore, low environmental impact along with elevated viscosity are product demand boosting features. The primary elements influencing the cinnamic aldehyde market share price trends are high research and developmental activities costs linked with organic products, as well as shifting cinnamon prices.
Cinnamic Aldehyde Market SEGMENTATION
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- By Type
Based on type; the market is divided into industrial grade cinnamic aldehyde, food grade cinnamic aldehyde
Industrial grade cinnamic aldehyde is the leading part of the type segment.
- By Application
Based on the application; the market is divided into flavorants for food, cosmetics, pharmaceutical, agrichemicals, corrosion inhibitors, solvents
Flavorants for food is the leading part of the application segment.
DRIVING FACTORS
"Personal Care Industry Expansion to Aid Market Expansion "
The chemical has a floral scent and is commonly used in perfumes. It is a yellow chemical with a strong jasmine odor that is frequently used in the production of personal care goods such as perfume, deodorant products, lotions and creams, powdered talcum, and others. This advanced material can also increase the flow of blood, warm the skin, and strengthen skin tissue. It is frequently found in massage oils and beauty items. The chemical, on the other hand, can be utilized not only to modify aroma, but also to disinfect and purify the mouth. It is commonly found in toothpaste, chewing gum, breath fresheners, and other oral hygiene products. The use of the advanced material in gum can both disinfect and freshen the mouth.
Thus, an increasing need for personal care products, a growing population, and changing lifestyles are fuelling consumption for the advanced material.
"Corrosion Prevention by the Chemical to Foster Industry Progress "
Aldehyde-surfactant mixtures, such as trans-cinnamaldehyde, are effective at preventing corrosion, especially in the absence of minerals or organic acids. Such aldehyde as well as surfactant mixes provide higher and more consistent corrosion prevention than aldehyde-only compositions. As a result, the demand for the advanced material would develop.
RESTRAINING FACTORS
"Pregnancy Danger to Limit the Market Evolution "
To safeguard the safety of consumers when using this chemical, regulatory agencies in each region have established a set of rules that must be observed by every participant within the market. Some of the negative effects that may occur with the use of a highly concentrated form of the chemical within cinnamon oil, medications, along with other personal care and oral consumption goods include skin irritation and pregnancy danger in expectant moms.
Cinnamon goods, in accordance to the reports issued should, be categorized as medical items that require marketing permission. As a result, these constraints may limit the usage of the The advanced material by industries, affecting global market growth.
Cinnamic Aldehyde Market REGIONAL INSIGHTS
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"Food and Beverages Industries in Asia Pacific to Support Market Advancement "
With a market share of more than 45% in 2020, Asia Pacific controlled the cinnamic aldehyde market. The primary actors in this region are China and India. The region's rapidly expanding food and beverage industries, as well as the burgeoning cosmetics and personal care industry, drive market expansion. The advanced material is employed as an anti-mildew agent and a food freshener, and it can also affect the taste to increase intake. Thus, rising interest in green technology and rising demand for botanical and organic products in India, China, South Korea, Japan, and Indonesia drive market expansion.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.
The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.
List of Market Players Profiled
- Emerald Kalama Chemical (U.S.)
- LANXESS (Germany)
- Aurochemicals (U.S.)
REPORT COVERAGE
This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.
In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 981.7 Million in 2022 |
Market Size Value By |
US$ 1402.28 Million by 2031 |
Growth Rate |
CAGR of 3.7% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the cinnamic aldehyde market expected to touch by 2031?
The global cinnamic aldehyde market size is expected to reach USD 1402.28 million by 2031.
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What CAGR is the cinnamic aldehyde market expected to exhibit by 2031?
The cinnamic aldehyde market is expected to exhibit a CAGR of 3.7% by 2031.
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Which are the driving factors of the cinnamic aldehyde market?
The driving factors of the cinnamic aldehyde market are personal care industry expansion and corrosion prevention by the chemical.
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Which are the key players or most dominating companies functioning in the cinnamic aldehyde market?
Emerald Kalama Chemical, LANXESS, Aurochemicals are the key players or most dominating companies functioning in the cinnamic aldehyde market.