Cinnamic Acid Market Sizing with Competitive Landscape by 2021
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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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