Cinnamic Acid Market: Value Chain, Dynamics and Key Players 2015 to 2021

Cinnamic acid or (E)-3-phenylprop-2-enoic acid is an aromatic organic compound which has crystalline structure and is freely soluble in various organic solvents. Cinnamic acid has odor similar to that of honey which makes suitable as flavoring agent. Cinnamic acid occurs naturally in several plants including cinnamon. The major applications for cinnamic acid include synthetic indigo, flavoring agent and preparation of various esters, amides and cinnamoyl acids which find range of pharmaceutical uses especially in diseases like malaria and tuberculosis. The derivatives of cinnamic acid are used as main components in anti-oxidants, anti-diabetic and anti-cholesterolemic medicines. The market for cinnamic acid is governed by its major application in perfume industry and as a flavoring agent which are in greater demand across Asia-pacific region. The other drivers for cinnamic acid include its derivative preparations which are mostly used in various medicinal preparations including that of tuberculosis and malaria which are predominant in developing countries like India and Brazil. Cinnamic acid’s application in skin care products (usually sun screen products) makes it grow across developed countries like the U.S and Western Europe as these countries are major consumers of cosmetic industry across globe.

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Cinnamic acid occurs naturally through oils of cinnamon; however it can be industrially synthesized through interaction of benzyl dichloride and sodium acetate. The chemical arrangement of cinnamic acid offers reactive sites mainly in substitution on phenyl ring or reactions in carboxyl acids making them suitable in preparation of several derivatives having pharmaceutical applications. The applications of cinnamic acid largely include in perfume or fragrance industry, followed by flavoring agent (as a precursor of sweetener aspartame), preparation of synthetic indigo and also in the form of derivatives in medicinal drug preparations for diseases like tuberculosis and malaria. These applications make the market for cinnamic acid more lucrative. The skin care products forms another major driver for cinnamic acid as these are widely used in cosmetic industry. As the cosmetic industry flourishes globally the requirement for cinnamic acid continues to grow. Cinnamic acid is also used in form of derivatives as a diabetic drug (insulin releasing agent) which makes it extremely important globally as the number of diabetic patients soar high owing to changed lifestyle and improper food eating habits.

The medicinal applications in form of derivatives make cinnamic acid highly important. The developing countries like India and Brazil form the major market for cinnamic acid owing to the increase in number of patients suffering from tuberculosis and malaria especially in rural areas. Thus the demand for cinnamic acid would boost up in these countries. Cinnamic acid market is also driven by its application in cosmetic industry. There is a huge demand for skin care products across developed countries like the U.S., Russia and other European market. This requirement will act as a catalyst for the market of cinnamic acid to thrive in these countries. The application of cinnamic acid in perfume industry is largely in demand across Middle East and other Asia-pacific countries like India. The growth in fragrance industry will further propel the need of cinnamic acid. Synthetic indigo, another major application of cinnamic acid mainly goes in dyeing industry find huge potential in several applications causing additional growth in cinnamic acid market.

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There are several companies that manufacture cinnamic acid including BASF, Guangzhou shiny co., DSM, Kay Fries (USA), and Bayer ltd. amongst others.

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