Cinnamic aldehyde market to depict potential growth prospects via product demand from the food flavoring and healthcare sectors, global industry to surpass USD 2 billion by 2024
Publisher : Fractovia | Published Date : 2018-01-19Request Sample
The rapidly increasing consumption of cinnamon owing to its numerous benefits is a major factor responsible for augmenting cinnamic aldehyde market size. Cinnamic aldehyde is the organic compound that lends cinnamon its classic flavor and odor. With the shifting trends in consumer preferences and the growing demand for luxury lifestyle products, cinnamic aldehyde market has found an ever-expanding application arena - as a flavor and aroma agent. Scientific studies have also shown that cinnamaldehyde is a potential compound for keeping Alzheimer’s at bay and can induce autonomous thermogenesis in fat cells which helps in weight loss. As global consumers are becoming increasingly passionate about maintaining good health and body image, it would be apt to state that cinnamic aldehyde industry is set to traverse on a profitable path.
U.S. Cinnamic Aldehyde Market, By End-Use, 2016 & 2024 (Tons)
The widespread demand of cinnamic flavor and fragrances has been a principal factor responsible for the expansion of cinnamic aldehyde market. The product is extensively used in the food and beverages industry and in almost all FMCG products like soaps, shampoos, diffusers, room fresheners, deodorants and in many more personal hygiene and healthcare products. It is also imperative to mention that cinnamon is a very popular and much-loved flavor that finds wide consumption as a food and beverages additive. Therefore, cinnamic aldehyde industry finds an ever-growing market when it comes to flavor enhancement products such as ice-creams, coffees, candies and chewing gums apart from myriad desserts and confectioneries. As per estimates in fact, flavor agent based cinnamic aldehyde market is projected to be worth up to $650 million by 2024. Alternatively, cinnamon’s aroma, widely considered to be warm and pleasant, has led to cinnamic aldehyde market garnering quite some revenue from the aroma manufacturing companies. In fact, aroma agent segment accounted for 40% of the cinnamic aldehyde market in 2016 and is expected to grow further over 2017-2024. Cinnamic aldehyde is thus a popular choice among perfumers who look forward to developing floral aromas like lily, butterscotch or apricot, widening the scope of aroma-based cinnamic aldehyde industry.
A quick overview of cinnamic aldehyde market outlook from the healthcare domain:
The essential oil that gives cinnamon the distinct flavor and aroma is 65% to 75% cinnamaldehyde or cinnamic aldehyde. Health benefits of cinnamaldehyde have been known since ancient times of course, however, recent scientific research has shown that cinnamaldehyde can also help in losing weight by burning fat in cells. Furthermore, this chemical has the ability to prevent Alzheimer’s disease as well. As these studies have begun to gain acceptance among the masses, key players in cinnamic aldehyde industry will be able to steer the business sphere along the path of significant growth by tapping into the application of cinnamaldehyde as a weight controlling agent and perhaps, even as a potential preventive cure for Alzheimer’s. It is essential to take note of the fact though, that mere consumption of cinnamon is not enough to unleash these medically beneficial properties of cinnamaldehyde. Rather, it has to be consumed in the form of the distilled natural oil that will contribute toward treatment. In essence, it is certain that cinnamic aldehyde market stands to gain tremendous valuation from the healthcare domain alone.
An insight into cinnamic aldehyde market trends in the Asia Pacific
Asia Pacific, as on today, seems to be one of the major regions across the globe where cinnamic aldehyde market has been gaining mainstream popularity. Cinnamon is most abundantly produced in southern India and Sri Lanka along with some parts of China. Being an indigenous product of Asia, it is abundantly produced and consumed across the continent. Asia Pacific dominated the cinnamic aldehyde industry in 2016, having held 35% of the total share. Previously much of the raw cinnamon and cinnamaldehyde had been exported to western countries, however, with the economic progress of the developing economies and growing demand of luxury commodities in the Asia Pacific, especially in the countries of India, China and Japan, the cinnamic aldehyde market has been witnessing rapid expansion in the region. Much of these luxury commodities are also supplied from North America where cinnamic aldehyde market is spurred by the numerous perfume manufacturing facilities. It is essential to mention, that despite APAC ruling the charts as far as cinnamic aldehyde market is concerned, a considerable amount of research and development concerning cinnamaldehyde is also undertaken by the North American countries. It is predicted that by 2024 the cinnamic aldehyde industry will witness 6% growth in North America.
As per experts, the global food flavoring industry is expected to exceed $15 billion by 2024. By the end of 2023, global aroma chemicals industry is estimated to worth more than $6.4 billion. Cinnamaldehyde, which finds widespread application in both these sectors, is likely to witness extensive demand with the rapid growth across these domains. Estimates claim that on account of its huge application spectrum, cinnamic aldehyde market size is expected surpass 150 kilo tons of consumption by 2024.
