Synthetic Cinnamaldehyde Market Size & Share, by Product Type (Flavor agent, Antimicrobial agent, Aroma agent, Pesticide & Insecticide); Application (Food & beverages, Household & Personal Care, Agriculture, Healthcare, Industrial) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5554
  • Published Date: Jan 22, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Synthetic Cinnamaldehyde Market size is expected to reach USD 563 Million by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of synthetic cinnamaldehyde was over USD 280 Million. The market is growing rapidly due to various factors such as its increased use in flavor and fragrance industries, expanding personal care, home, and food and beverage sectors across the globe, and easy access to raw materials. The demand for synthetic cinnamaldehyde is also expected to be influenced positively by urbanization and rising consumer disposable income.  As observed by Research Nester analysts, the global disposable incomes and expenditure per household grew by 2.6% in 2022. Moreover, an increase in consumer expenditure on personal care products and a rise in research and development activities focused on the benefits of scent are fueling the demand for synthetic cinnamaldehyde. Upon analysis, the perfume industry uses over 3,100 synthetic scent compounds. The average name-brand perfume contains 29 chemicals, leading to the growth of the market.

In addition, mixtures of aldehyde and surfactant, such as trans-cinnamaldehyde, have been found to be effective in preventing corrosion, particularly in the presence of minerals or organic acids. Compared to compositions containing only aldehydes, these mixtures show higher and more consistent corrosion prevention. Consequently, the demand for synthetic cinnamaldehyde is expected to increase.


Synthetic Cinnamaldehyde Market
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Synthetic Cinnamaldehyde Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 6%

Base Year Market Size (2023)

~ USD  280 Million

Forecast Year Market Size (2036)

~ USD 563 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
 
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Synthetic Cinnamaldehyde Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Growing adoption in Industrial and Chemical Processes- The compound's versatility makes it a valuable component in various industrial processes. Its usage in the manufacturing of chemicals, plasticizers, and resins is particularly noteworthy. Additionally, its functional properties have contributed significantly to the growth of the industrial sector. These factors have made it a crucial element in the production of a wide range of materials.
  • Rising demand in the Food and Beverage Industry- The need for diverse and appealing flavors in food and beverages drives the synthetic cinnamaldehyde market. Synthetic Cinnamaldehyde is a key flavoring agent in various products, including baked goods, candies, and beverages, meeting consumer preferences for unique tastes.
  • Cosmetics and Fragrance Sector- Its aromatic properties make it sought-after cosmetic bioactive ingredients and are profoundly used in skincare , perfumes, and personal care products. The compound scent contributes to its usage in enhancing fragrance profiles, aligning with consumer demands for natural and pleasant scents.
  • Pharmaceutical Applications- Synthetic Cinnamaldehyde is a chemical compound found in cinnamon bark and other plants. It is widely used in various industries due to its potential health benefits and antimicrobial properties. It is commonly used in pharmaceutical formulations, herbal remedies, and healthcare products due to its natural and pleasant scent. The compound has been found to have antioxidant and anti-inflammatory effects, making it a promising candidate for the treatment of various diseases.

Challenges

  • Fluctuating Raw Material Costs- The production of synthetic Cinnamaldehyde is impacted by the market's reliance on raw materials and precursors, which can be subject to price fluctuations. This volatility translates to variations in production costs, ultimately affecting the overall pricing and profitability of the product.
  • The availability of natural alternatives such as cinnamon extracts or essential oils restricts the market’s growth.
  • Shifting consumer preference towards natural ingredients is obstructing the market’s growth.


Synthetic Cinnamaldehyde Segmentation

Product Type (Flavor agent, Antimicrobial agent, Aroma agent, Pesticide & Insecticide)

The antimicrobial agent segment is poised to hold 42% share of the global synthetic cinnamaldehyde market during the forecast period. The increased demand for antimicrobial agents arising from various industries like healthcare, food processing, and packaging due to growing concerns about hygiene, food safety, and health. Antimicrobial agents are extensively used in these sectors to inhibit the growth of microorganisms and ensure product safety, contributing to their projected market growth.

Application (Food & beverages, Household & Personal Care, Agriculture, Healthcare, Industrial)

Synthetic cinnamaldehyde market from the food and beverages segment is set to garner the majority revenue share. This segment typically holds the highest market share owing to the universal necessity of food products and the continuous demand for innovations in food processing, preservation, and safety. The food & beverage industry consistently seeks advancements in ingredients, packaging, and processing techniques, leading to significant growth opportunities and a substantial market size. As per statistics, the synthetic food industry accumulated a revenue of USD 16 billion in 2023.  This enhanced opportunities for the market. 

Our in-depth analysis of the global market includes the following segments:

             Product Type

  • Flavor agent
  •  Antimicrobial agent
  •  Aroma agent
  •  Pesticide & Insecticide

            Application

  • Food & beverages
  •  Household & Personal Care
  •  Agriculture
  •  Healthcare
  •  Industrial

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Synthetic Cinnamaldehyde Industry - Regional Synopsis

Industry - Regional Synopsis

North American Market Forecast

North American synthetic Cinnamaldehyde market is anticipated to hold the largest market accounting for 36% of the market share. The market experiences consistent growth driven by its versatile applications across various industries. The compound serves as a key flavoring agent in the food and beverage sector, enhancing the taste of confectionery, baked goods, and beverages, meeting consumer preferences for diverse and appealing flavors. Moreover, its aromatic properties contribute significantly to the cosmetics and personal care industry, where it's incorporated into fragrances for perfumes, skincare, and toiletry products, catering to the market’s demand for natural-like scents. According to Research Nester analysts, the cosmetics and personal care industry in North America is expected to generate USD 118 billion in revenue by the end of 2024.

APAC Market Analysis

Asia Pacific synthetic cinnamaldehyde market is estimated to garner significant revenue share during the forecast owing to diverse industrial applications. Widely utilized in the food and beverage industry, Synthetic Cinnamaldehyde serves as a pivotal flavoring agent, enriching the taste profiles of various culinary products, including confectionery, baked goods, and beverages, meeting the region’s demand for unique and flavorful offerings. Furthermore, its aromatic attributes contribute significantly to the cosmetics and personal care sector, where it's integrated into fragrances for skincare, perfumes, and toiletries, aligning with consumer preferences for natural-like scents. However, challenges arise from the evolving consumer preferences for natural ingredients despite its synthetic origin. To sustain its market presence, manufacturing emphasizes safety, quality, and functionality while addressing consumer concerns. Compliance with stringent regulatory standards remains crucial in the region’s regulatory landscape, influencing its usage across diverse industries. Overall, Synthetic Cinnamaldehyde thrives in the Asia Pacific market due to its versatile applications in food, cosmetics, and personal care, while navigating challenges associated with changing consumer preferences and regulatory compliance.

Research Nester
Synthetic Cinnamaldehyde Market size
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Companies Dominating the Synthetic Cinnamaldehyde Landscape

top-features-companies
    • Universal Oil Products/Honeywell International Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Symrise
    • Chem-Fleur, Inc/  Firmenich SA.
    • Chemical Dynamics, Inc.
    • Givaudan
    • Penta Manufacturing Company, LLC.
    • BERJÉ INC
    • Merck KGaA
    • ABI Chem
    • TimTec LLC

In-the-news

In The News

  • Symrise AG has raised its ownership stake in Kobo Products Inc., a US-based company. Symrise now owns 49% of the pigment and powder specialist following the deal. Both businesses now have more potential in the mineral UV filter and decorative cosmetics industries as a result of the merger.
  • The merger between Firmenich International SA and DSM has been carried out, creating DSM-Firmenich AG, the premier innovation partner in the fields of nutrition, health, and beauty. This announcement is being made after all customary criteria have been met, the share exchange offer for the merger transaction has been completed, and Firmenich shares have been contributed to DSM-Firmenich AG.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5554
  • Published Date: Jan 22, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing adoption in industrial and chemical processes, rising demand in the food and beverage industry, and growing applications in the pharmaceutical industry are some of the major growth drivers in the market.

The market size of Synthetic Cinnamaldehyde is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2024-2036.

The major players in the market are Symrise, Chem-Fleur, Inc/ Firmenich SA., Chemical Dynamics, Inc., Givaudan, Penta Manufacturing Company, LLC., BERJÉ INC, Merck KGaA, ABI Chem, TimTec LLC, NIPPON A&L INC. and others.

The antimicrobial agent segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Synthetic Cinnamaldehyde Market Report Scope
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