CINNAMIC ACID MARKET ANALYSIS

Regional Analysis

Market Outlook

On the basis of region, the global cinnamic acid market is segmented into North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. Asia Pacific is projected to hold dominant position in the global cinnamic acid market over the forecast period due to growth of cosmetics and fragrance/perfumes industries in the region. For instance, according to the U.S. Department of Commerce, International Trade Administration (ITA), Indian Beauty and Personal Care (BPC) industry was valued at US$ 8 billion in 2016 and it is expected to exhibit a CAGR of 5-6% during the forecast period (2019-2027).

Europe and North America regions are major consumers of cosmetics, worldwide and therefore, are major drivers for the cinnamic acid market growth for the past five years. In Middle East, there is high demand for cinnamic acid in perfume industry, which is expected to fuel growth of the cinnamic acid market.