There has been a noticeable expansion in the natural cinnamic aldehyde market owing to rapid development in food, beverage and perfume industry which will thereby drive revenue.
DUBAI, UAE / ACCESSWIRE / September 17, 2020 / The natural cinnamic aldehyde market hit a value of US$ 927.6 Mn in 2018, with China continuing to be one of the leading markets globally. The demand for natural cinnamic aldehyde in food & beverage industry will continue to drive growth over the forecast period. Rising preference for green technology will also create suitable opportunities for market players.
"Investment is seen largely in marketing and strengthening product capacity volumes. Leading players are now collaborating with manufacturers for a better insight into the scenario and to strengthen their regional market structure by focussing on specific regions," states the FMI Analyst.
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Cinnamic Aldehyde Market - Important Takeaways
- Europe and East Asian Region holds the largest revenue share while Middle East and Africa will expand at a CAGR of 2.9% through 2028
- Leading players are working on promotional activities, marketing and strengthening product capacity volume
- Global cinnamic aldehyde market registered a value of US$ 926.3 Mn in 2018, this value is estimated to rise in the forecast period
- Herbal and organic product segment is likely to envision better market scenario through the forecast period
Cinnamic Aldehyde Market - Driving Factors
- Growing use of cinnamic aldehyde in food, beverage and bakery i.e. for cakes, biscuits, and high demand for superior quality or western-style food and beverage is driving the market
- Visible expanding preference for flavouring agents and use in perfume, agrochemicals, personal care etc. is driving the production
- Increasing demand for herbal and organic products and rising preference for green technology has surged demand to higher levels
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Cinnamic Aldehyde Market - Key Restraints
- Use of cinnamic aldehyde is rising but lesser production capacity volumes continue to pose challenges
- It requires advance technology which demands extra investment and this acts as major drawback
COVID-19 Market Impact
As cinnamic aldehyde falls in the chemical and materials industry, this market is likely to face considerable loss because people will shift to better lifestyle and essential ingredients. Manufacturing essentials and raw materials are not easily available due to slower trade process on account of social distancing. Though food, beverage, perfume or organic industries has already experienced loss yet it is on a reviving path because for most of the consumers these products fall under necessity banner.
Competitive Landscape
Major players in the market include Robertet SA, WEN International Inc., Fleurchem, Inc., Sunaux International, Graham Chemical Corporation, Indukern F&F, Aurochemicals, Elan Chemical Company Inc., ERNESTO VENTOS SA, Finoric LLC. All of these leading players work on building collaborations with major manufacturers to magnify their production capacity.
Major participants rely on investing into inorganic growth strategies and expanding production capacity volumes in selected regions.
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More on the report
FMI's analysis presents segmentation on the basis of application (flavouring agent, perfume additives etc.), end-use (food, beverage, agrochemicals etc.) and region (North America, Europe, Asia, and Japan)
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SOURCE: Future Market Insights