Global Cinnamic Acid Market Size, Share, and COVID-19 Impact Analysis, By Source (Synthetic and Natural), By Form (Liquid, Granular, and Powder), By Application (Pharmaceuticals, Flavoring Agents, Cosmetics, Fragrance Agent, and Food Preservative), By End-User (Personal Care, Chemical Manufacturing, Pharmaceuticals, Food and Beverages, and Agriculture), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033

Global Cinnamic Acid Market Size Forecasts to 2033

• The Global Cinnamic Acid Market Size was estimated at USD 973.75 million in 2023
• The Market Size is Expected to grow at a CAGR of around 2.62% from 2023 to 2033
• The Worldwide Cinnamic Acid Market Size is expected to reach USD 1261.32 million by 2033
• Asia Pacific is predicted to grow at the fastest CAGR throughout the projection period

The Global Cinnamic Acid Market Size is predicted to exceed USD 1261.32 Million by 2033, Growing at a CAGR of 2.62% from 2023 to 2033. The market is influenced by consumer demand for natural and sustainable products, manufacturing advancements, and the growing use of cosmetics.

Market Overview

The cinnamic acid market is the global trade and production of cinnamic acid, an aromatic organic compound used in various industries such as perfumes, skincare products, the food industry, pharmaceuticals, and chemical manufacturing. Cinnamic acid is referred to as cinnamylic acid. Cinnamomum cassia is a plant metabolite that contains the monocarboxylic acid cinnamic acid. As a conjugate acid of cinnamonate, it is frequently employed as a flavoring agent in foods, beverages, cosmetics, and fragrances. The bark of Cinnamomum trees yields cinnamic acid, which is utilized in a variety of scent products, such as shampoos, toilet soaps, fine fragrances, and home cleaners. Approximately 1–10 metric tons are used annually worldwide. Antioxidant, antibacterial, anticancer, neuroprotective, anti-inflammatory, and antidiabetic qualities are all possessed by cinnamic acid. By contributing electrons, it stops radical chain reactions and creates stable byproducts. In addition, cinnamic acid is a fragrant component of detergents, flavorings, cosmetics, and toiletries. Enzymatic deamination of phenylalanine leads to the synthesis of cinnamic acid. Cinnamic acid is produced by oxidizing cinnamic aldehyde in an aromatic hydrocarbon solvent with molecular oxygen in a reaction system with a cobalt compound catalyst and water. The resulting organic phase can be separated from the aqueous phase, resulting in crystalline cinnamic acid. Water-soluble catalysts can be reused when in solution in the separated aqueous phase.

Report Coverage

This research report categorizes the global cinnamic acid market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global cinnamic acid market. recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition, have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global cinnamic acid market.

Driving Factors:

Extensive usage of cinnamic acid as a natural flavoring agent:

The market for cinnamic acid is expanding significantly as a result of consumers' increasing inclination for natural components rather than artificial additions. Derived from cinnamon oil, cinnamic acid has natural flavoring qualities that appeal to food manufacturers and health-conscious customers. The increased popularity of clean-label products in the food and beverage industry is driving up demand for natural substitutes. This adaptability and push for greater openness and the use of healthier ingredients. Cinnamic acid is additionally being used as a natural addition in other industries, such as cosmetics and personal hygiene goods.

Proliferation in the cosmetics industry and innovations in manufacturing techniques:

The market for cinnamic acid is being driven by the expansion of the personal care and cosmetics sector, which focuses on the natural components for skincare and cosmetics. It is anticipated that adding cinnamic acid to formulas may improve product attractiveness. Technology and industrial process innovations are reshaping the sector as improved production techniques lower costs while increasing output and efficiency. Cinnamic acid is widely available to a wider range of businesses, leading to lower prices and greater availability, which is anticipated to further boost the market.

Restraining Factors

The stringent regulatory framework, fluctuations in the cost of the raw material such as cinnamon, availability of the alternative ingredients, and alterations in the environmental conditions which may hinder the growth of the market.

Market Segmentation

The global cinnamic acid market share is classified into source, form, application, and end-user.

• The natural segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR throughout the forecast period.

Based on the source, the global cinnamic acid market is categorized into synthetic and natural. Among these, the natural segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR throughout the forecast period. The segment growth is attributed to the anti-oxidant effects, highly soluble in water, anti-inflammatory activity, wide occurrence in plants, low toxicity, and acts as a natural flavoring agent.

• The powder segment held a significant share in 2023 and is expected to grow at a remarkable CAGR throughout the projected timeframe.

Based on the form, the global cinnamic acid market is categorized into liquid, granular, and powder Among these, the powder segment held a significant share in 2023 and is expected to grow at a remarkable CAGR throughout the projected timeframe. The segmental expansion is attributed to the ease of use, effectiveness, enhanced solubility, longer shelf life, and extensive usage of the cinnamic acid powder in food products, as a fragrance agent, and in pharmaceutical applications.

• The food preservative segment dominated the cinnamic acid market in 2023 and is predicted to grow at a significant share throughout the projected timeframe.

Based on the application, the global cinnamic acid market is categorized into pharmaceuticals, flavoring agents, cosmetics, fragrance agent, and food preservatives. Among these, the food preservative segment dominated the cinnamic acid market in 2023 and is predicted to grow at a significant share throughout the projected timeframe. The sector growth is attributed to the antibacterial activity, rising need for clean-label foods, growing demand for baked products, drinks, processed meals, and packaged foods.

• The food and beverages segment dominated the cinnamic acid market in 2023 and is predicted to grow at a significant share throughout the projected timeframe.

Based on the end-user, the global cinnamic acid market is categorized into personal care, chemical manufacturing, pharmaceuticals, food and beverages, and agriculture. Among these, the food and beverages segment dominated the cinnamic acid market in 2023 and is predicted to grow at a significant share throughout the projected timeframe. The sector growth is ascribed to the rising use of cinnamic acid in foods and drinks, baked products, spicy products, and flavoring agents.

Regional Segment Analysis of the Global Cinnamic Acid Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global cinnamic acid market over the predicted timeframe.

North America is anticipated to hold the largest share of the global Cinnamic Acid market over the predicted timeframe. In the chemical and materials sector, the market for cinnamic acid in North America is expanding due to its use in food additives, cosmetics, and pharmaceuticals. The growing demand for skincare products and flavoring agents is predicted to drive the market's steady growth. Common applications for cinnamic acid include flavoring, sunscreen, esters, amides, synthetic indigo, and perfumes. The increase is being driven by the growing demand for fragrances, cosmetics, and medical products, such as medications that lower cholesterol and diabetes. Mexico, Canada, and the United States are the market leaders.

Asia Pacific is anticipated to grow at the fastest CAGR throughout the projected timeframe. Growing cosmetics and fragrance industries, especially in China, Japan, and India, are driving the Asia-Pacific cinnamic acid market. Perfumes and skincare products, such as sunscreens, frequently contain cinnamic acid. Cinnamic acid is progressively growing in demand as consumers seek natural ingredients for food and personal care products. Additionally, its application in pharmaceuticals is growing, especially in anti-diabetic, anti-cholesterolemic, and antioxidant medications. The expansion of the food business, especially in processed and packaged meals, increases demand for those products. Production and supply in the Asia-Pacific region are supported by a strong manufacturing infrastructure.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global cinnamic acid market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Yancheng Yinghua Fine Chemical
• Kraton Corporation
• ChemMed
• Jiangxi Dede Chemical
• Brother Enterprises
• Sanjay Group
• Hubei Greenhome Fine Chemical
• Solvay
• Amino Chemicals
• BASF
• DSM
• Kay Fries
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global cinnamic acid market based on the below-mentioned segments:

Global Cinnamic Acid Market, By Source

• Synthetic
• Natural

Global Cinnamic Acid Market, By Form

• Liquid
• Granular
• Powder

 Global Cinnamic Acid Market, By Application

• Pharmaceuticals
• Flavoring Agents
• Cosmetics
• Fragrance Agents
• Food Preservative

Global Cinnamic Acid Market, By End-User

• Personal Care
• Chemical Manufacturing
• Pharmaceuticals
• Food and Beverages
• Agriculture

Global Cinnamic Acid Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa