DUBLIN, March 9, 2018 /PRNewswire/ --
The "Cinnamaldehyde Market by Source, by Application and by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.
The growth of the cinnamaldehyde market is mainly driven by the growing applications of cinnamaldehyde in the flavor, and fragrance industries.
Homecare and personal care products witnessed a high penetration rate in emerging economies owing to the availability of better market and distribution channels, which further creates opportunities for the key players in the cinnamaldehyde market. The high penetration of these products is due to the growing middle class in Tier 2 and Tier 3 cities. Additionally, personal grooming has gained importance among teenagers/youth, which is also expected to boost the personal care market in the coming years.
Insights on Market Segments:
On the basis of source, the cinnamaldehyde market has been segmented into synthetic and natural, where the synthetic source held a larger share of the market in terms of volume in 2016. However, in the same year, natural source held the larger market share in terms of value.
Through the synthetic process, this chemical can be obtained by aldol condensation of benzaldehyde and acetaldehyde or from cinnamyl alcohol. The main derivative of cinnamaldehyde, which is mostly used commercially, includes dihydrocinnamyl, cinnamyl alcohol, and dihydrocinnamaldehyde. Through the natural process, it is produced by steam distillation of essential oil from cinnamon. It is also found in other members of the cinnamomum species such as cassia, and camphor.
Cinnamaldehyde finds its application as a flavoring agent, odor agent, and others. As per the research findings, odor agent was the largest application area in the global cinnamaldehyde market in terms of both revenue and volume, in 2016. It is used as a fragrance agent in cosmetics, soaps, detergents, deodorants, cleaners, shampoos, and others. Also, it mixes well with other volatile chemicals which help in the fixation of fragrance and odors of perfumes, generally used in personal, and homecare industries.
Asia-Pacific stands as the largest cinnamaldehyde market
Asia-Pacific held the largest share of the cinnamaldehyde market, in terms of both revenue and volume, in 2016. Cinnamaldehyde is used in the region by various industries such as homecare, personal care, food & beverages, and others. The region is home to almost 3 billion customers of homecare, and personal care industries.
With the rapid development of the Asia-Pacific cosmetics market, the cinnamaldehyde industry has witnessed significant growth. The growth of the cosmetics industry is led by increasing aging population, growing appearance consciousness among young generation, and increase in the disposable income of the people in this region. Also, the increase in number of middle-class population in India is leading to the increased demand of personal and homecare products, and benefitting the Asia-Pacific cinnamaldehyde market.
North America held the second largest share of the cinnamaldehyde market in 2016. The major growth driver for the market is the presence of mature and stable personal care, and homecare markets. Also, increased consumption of packaged foods, and high-end perfumes among the high-income groups are also contributing towards the market growth. High-income people have become the key customers of personal & homecare product manufacturers, because of their higher purchasing power.
Cinnamaldehyde is an organic compound, which provides the taste and smell of cinnamon spice. The essential oil in the bark of cinnamon trees contains almost 98% of the chemical. It is mainly used as a flavor and odor agent in the personal care, and homecare industries. It is also used as a fungicide that shows anti-microbial activity, which can prevent almost 50% bacterial growth in oral cavity. Additionally, it is also known as corrosion inhibitor for steel and other ferrous alloys in corrosive fluids.
Market Dynamics
Trends
- Increase in the use of cinnamaldehyde as antimicrobial agent in agricultural practices
Drivers
- Cinnamaldehyde has a low toxicity
- Changing demographics and income trends in developing economies
- Urbanization adding to increasing demand of cinnamaldehyde in emerging economies
- Increasing demand of personal & home care products in developed and developing economies
- Impact analysis of drivers on market forecast
Restraints
- Cinnamaldehyde can cause allergy
- Impact analysis of restraints on market forecast
Opportunities
- Continuous R&D activities to broaden the application of cinnamaldehyde in the medical sector
- Penetration of homecare & personal care products in emerging economies
Key Topics Covered:
1. Research Background
2. Research Methodology
3. Executive Summary
4. Introduction
5. Global Market Size and Forecast
6. North America Market Size and Forecast
7. Europe Market Size and Forecast
8. Asia-Pacific Market Size and Forecast
9. RoW Market Size and Forecast
10. Company Profiles & Benchmarking
- ABI Chem
- Emerald Kalama Chemical, LLC
- Finoric LLC
- Haihang Industry Co. Ltd.
- Jayshree Aromatics Pvt. Ltd
- KAO Global Chemicals
- Lanxess Ag
- Mubychem Group
- Payan Berthand S.A.
- Yingcheng Wuhan Organic Materials Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/g43q68/global?w=5
Media Contact:
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:http://www.prnewswire.com/news-releases/global-cinnamaldehyde-market-2013-2023---increase-in-the-use-of-cinnamaldehyde-as-antimicrobial-agent-in-agricultural-practices-300611471.html
SOURCE Research and Markets
Share this article