logo
logo
Sign in

Exploring Technological Advancements in Cinnamic Acid Production: Industry Innovations

avatar
Pearl Smith
Exploring Technological Advancements in Cinnamic Acid Production: Industry Innovations

Cinnamic acid is an organic compound derived from cinnamon that possesses properties like antimicrobial, antioxidant, anti-inflammatory and UV protective attributes. Cinnamic acid finds wide application as flavouring agents in food & beverages, fragrance & perfumes as well as various pharmaceuticals. The growth in demand for natural flavoring agents from beverage and food industries has fuelled the consumption of cinnamic acid. Cinnamic acid is predominantly used in artificial vanilla and cinnamon flavours as well as in various dairy and sweet products. The global cinnamic acid Market is estimated to be valued at US$ 24.33 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.Market OpportunityThe rising demand for functional beverages like energy drinks, flavored water and fruit juices have provided impetus to the use of cinnamic acid as flavoring enhancer. Cinnamic acid helps in masking undesirable or unfavorable flavors as well as enhances desirable fruit flavors. Furthermore, it inhibits microbial contamination making products shelf stable for longer duration. The projected growth of the global functional beverage market at a CAGR of around 7% during 2023-2030 will foster the consumption of cinnamic acid as natural flavoring agent in the coming years.Porter's AnalysisThreat of new entrants: The market has moderate barrier for new entrants due to established key players presence and capital requirement for R&D.Bargaining power of buyers: Large buyers like food and beverages industry have significant bargaining power due to the fragmented nature of suppliers.Bargaining power of suppliers: The suppliers have moderate bargaining power due to differentiated products and dependence of buyers on a wider supplier base.Threat of new substitutes: Threat from new substitutes remains low due to lack of close substitutes that can offer the antimicrobial properties of cinnamic acid.Competitive rivalry: Intense competitive rivalry exists among the key global players.SWOT AnalysisStrength: Versatility in applications across industries like food, cosmetics. Antimicrobial properties aid in preservation.Weakness: Supply chain disruptions影响原材料供应 during COVID-19 pandemic. Significant capital requirement for compliance with stringent regulations.Opportunity: Increasing demand for natural preservatives boosts market growth. Advances in fermentation technology to lower production costs.Threats: Fluctuations in raw material prices increase supply risks. Stringent environmental regulations add to compliance costs.Key TakeawaysThe global cinnamic acid market is expected to witness high growth over the forecast period supported by wide applications across industries. The Asia Pacific region accounts for more than 35% of the global market value due to China being the dominant producer as well as consumer.Regional analysis of Asia Pacific region indicates increasing per capita consumption in nations like India and Southeast Asia economies will drive the fastest market growth during the forecast period supported by rising health awareness. The growing trends towards natural preservatives boosts product adoption across food and cosmetics industries in the region.Key players operating in the cinnamic acid market are BASF, Guangzhou Shiny Co. Ltd., BestAroma Biotech, Daurala Organics, Yuancheng Saichuang Technology, Wuhan Organic Material, Omega Ingredients, Elan Chemical Company, DSM, King-Pharm, Kay Fries, Juhua Group, and Bayer ltd. amongst others. BASF and Juhua Group captures over 30% of total market share.

collect
0
avatar
Pearl Smith
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more