Future Market Insights’ newly published market report, “Natural Cinnamic Aldehyde Market: Global Industry Analysis and Forecast, 2018-2028” examines the natural cinnamic aldehyde market and offers crucial market insights for the next 10 years. According to the report, the flavoring agent application segment of the natural cinnamic aldehyde market is expected to dominate the market, accounting for around 76.2% share of the overall market value by 2028 end while registering a CAGR of 3.1% during the forecast period (2018 – 2028). The estimated value of the global natural cinnamic aldehyde market in 2018 is expected to be US$ 927.6 Mn and the market is projected to reach US$ 1,327.4 Mn by the end of 2028.
Global Natural Cinnamic Aldehyde Market: Dynamics
The global natural cinnamic aldehyde market is estimated to be driven by growing demand from the rapidly growing food & beverages and perfume industries. Also, progress pertaining to increase in demand for food additives among customers is expected to result in demand rise in the natural cinnamic aldehyde market. Major players involved in the natural cinnamic aldehyde market are channelizing efforts to inculcate advanced process developments and strengthen their production infrastructure to make the available products more pure. This will encourage sales volume growth of natural cinnamic aldehyde across regions. Moreover, emphasis on mergers and acquisitions in the perfume and food & beverages industries is also expected to gain momentum during the forecast period, thereby further pushing revenue growth of the global natural cinnamic aldehyde market.
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People across the world are becoming more heath conscious and choosing healthy diets to maintain their healthy lifestyle. Cinnamic aldehyde has powerful medicinal properties — it has anti-inflammatory properties, it lowers the blood sugar levels and helps in treating neurodegenerative diseases. Various research publications and strategically sponsored advertisements by prominent market players and institutions have immensely influenced people to include cinnamic aldehyde in their diet.
The global fragrances market was worth US$ 48 Bn in 2016. Many luxury brands have expanded into fragrances as entry points for customers. Fragrances are often more affordable than luxury goods, such as bags or shoes, allowing these brands to tap into middle- and lower-income consumer segments. Almost, in all perfume production facilities, cinnamic aldehyde is utilised for its sweet and natural scent.
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Global Natural Cinnamic Aldehyde Market: Forecast
On the basis of application, the flavouring agent segment is expected to witness highest growth in terms of volume during the forecast period. As per the forecast, the flavouring agent segment is estimated to account for more than 3.9% share in the overall market value by the end of the forecast period. This is largely due to the massive applications of natural cinnamic aldehyde in various food products.
On the basis of region, North America is anticipated to dominate the global natural cinnamic aldehyde market throughout the forecast period. The region’s market is expected to expand at a CAGR of around 3.8% during the forecast period. SEA & Pacific region is anticipated to display relatively higher CAGR during forecast period in the global natural cinnamic aldehyde market. These two regions along with Western Europe are expected to register attractive growth rates in the global natural cinnamic aldehyde market during the forecast period.
Global Natural Cinnamic Aldehyde Market: Competitive Landscape
Some of the players reported in this study on the global Natural Cinnamic Aldehyde market are Robertet SA, WEN International Inc., Fleurchem, Inc., Sunaux International, Graham Chemical Corporation, Indukern F&F, Aurochemicals, Elan Chemical Company Inc., ERNESTO VENTOS SA and Finoric LLC, among others. Industry players, over the recent past, have been channelizing efforts to embrace advanced technology to optimise their performance. Manufacturers have been focussing on strategic acquisitions to rapidly strengthen their business. These factors are expected to positively impact the global Natural Cinnamic Aldehyde market in the near future.