(MENAFN- P&S Intelligence) Cinnamaldehyde is basically an organic compound, which provides the smell and taste of cinnamon spice. It is an essential oil, which is commonly found in the bark of cinnamon trees. These trees contain nearly 98% of the chemical. Cinnamaldehyde is majorly used as an odor and flavor agent in the homecare and personal care industries. It is also utilized as a fungicide which exhibits anti-microbial activity that can prevent around 50% of the bacterial growth in oral cavities. It is also used as a corrosion inhibitor for various ferrous alloys in corrosive fluids and steel.
The soaring population of geriatric people is one of the major factors fueling the requirement for cinnamaldehyde across the world. According to the 2020 World Population Ageing report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. With rising age, health issues such as tooth decay and bad breath become highly prevalent.
As cinnamaldehyde boasts antibacterial and antifungal properties, it assists in fighting these health conditions, as a result of which, its demand is growing rapidly, due to the mushrooming population of geriatric people. Apart from this factor, the increasing disposable income of people, especially in developing countries, is also positively impacting the demand for cinnamaldehyde, which is, in turn, supporting the growth of the cinnamaldehyde market. In these countries, people used to spend only on basic necessities such as housing and food earlier, but with growing income levels, their expenditure on various discretionary products has increased massively.
Moreover, due to the growing surging per capita income, people are nowadays spending huge amounts on personal care, cosmetics, and fragrance products. As per the International Monetary Fund (IMF), the income of people living in developing countries increased at an average rate of 6.14% annually from 2006 to 2013. Owing to these factors, the value of the cinnamaldehyde market is predicted to surge from $183.7 million in 2016 to $280.3 million by 2023.
Globally, Asia-Pacific contributed the highest revenue to the cinnamaldehyde market in the past years and it is predicted to register huge expansion in the coming years, as per the estimates of P&S Intelligence, a market research company based in India. This is credited to the surging population in developing countries such as China and India, where the requirement for cosmetic and personal care products is soaring. To meet the demand for these products, many players such as Proctor & Gamble (P&G), Shiseido, L’Oreal, and Estee Lauder are investing heavily in the region.
Thus, the demand for cinnamaldehyde will rise sharply in the coming years, mainly because of the surging population of geriatric people and the increasing sales of personal care and cosmetic products all over the world.
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