The global syringaldehyde market size was USD 7.28 billion in 2023, calculated at USD 7.75 billion in 2024 and is expected to be worth around USD 14.43 billion by 2034. The market is slated to expand at 6.42% CAGR from 2024 to 2034.
The global syringaldehyde market size is projected to be worth around USD 14.43 billion by 2034 from USD 7.75 billion in 2024, at a CAGR of 6.42% from 2024 to 2034. The North America syringaldehyde market size reached USD 2.55 billion in 2023
The U.S. syringaldehyde market size was exhibited at USD 1.19 billion in 2023 and is projected to be worth around USD 3.87 billion by 2034, poised to grow at a CAGR of 6.63% from 2024 to 2034.
North America dominated the syringaldehyde market in 2023. The growth of the region is attributed to the rising investments in the pharmaceutical sector, the presence of robust R&D activities, the rising focus on sustainability promoting syringaldehyde as a green alternative, broader distribution channels, and stringent regulations favoring eco-friendly and non-toxic ingredients.
Consumers are increasingly becoming more conscious regarding the benefits of health and wellness, and there is a rising preference for natural ingredients in food and beverages, which has led to a spurring of the demand for syringaldehyde. Additionally, the expansion of the perfume and fragrance industry is expected to accelerate the growth of the regional syringaldehyde market growth.
| Company Name | International Flavors & Fragrances Inc. |
| Headquarter | New York, United States |
| Primary Business | The company is a global leader that deals with food, beverage, scent, home and personal care, and health. The Scent segment is comprised of Fragrance Compounds, Fragrance Ingredients, and Cosmetic Ingredients. |
| Geography Presence | The company operates on a global basis, with manufacturing and sales facilities in or supply arrangements with companies based in the U.S., Europe, Africa, the Middle East, Latin America, and Greater Asia. During 2023, nearly 72% of the combined net sales were to customers outside the U.S., and we intend to continue the expansion of our international operations. |
| Key strategic moves | In August 2024, International Flavors & Fragrances Inc. (IFF) will debut the Shanghai Creative Center expansion with sensory science facilities. IFF announced that it plans to complete the renovation and expansion of its facilities. The Shanghai Creative Center features a fine fragrance area and a 360° digital space designed to offer an immersive olfactory experience that bridges the physical and digital realms, setting the stage for live-streaming educational workshops. |
International Flavors & Fragrances Inc.
| R&D Expenses in 2022 | R&D Expenses in 2023 | R&D Expenses in 2023 |
| $603 million (4.8% of sales) | $636 million (5.5% of sales) in 2023. | - increased by $33 million - higher operating expenses for R&D-related activities |
Europe is observed to expand rapidly in the syringaldehyde market during the forecast period. Europe is leading the perfume and fragrance with its sophisticated scents and alluring aromas. The region is experiencing rising consumer demand for personalized scents and unique fragrance combinations. The other factors include an increasing demand for natural ingredients in food and beverages, rising advancements in green chemistry practices, stringent environmental regulations, and rising consumer inclination for products that are made from natural sources. In addition, increasing research and development activities in pharmaceutical products.
Furthermore, several companies are adopting marketing strategies such as expansion into emerging markets, acquisition, partnerships, or collaborations to gain a competitive edge and for market growth. Many companies are also engaged in developing fragrance solutions like detergent fragrances.
Syringaldehyde is considered a crucial component to be used in the formulation of detergent fragrances as it offers desired olfactory properties. For instance, In May 2024, Symrise announced the launch of SuperBloom and SymAqua. SuperBloom offers a unique fragrance collection that provides an intense and long-lasting fragrance experience, while SymAqua is a natural and convenient fragrance solution for air fresheners.
Syringaldehyde is a naturally occurring organic compound commonly found in lignin or plant materials. It is a derivative of syringol and is a yellow-to-white crystalline powder with a distinctive vanilla-like odor. It is widely used in the production of a wide range of products, including fragrances, flavors, resins, pharmaceuticals, and others. Syringaldehyde has numerous applications in the food, pharmaceutical, cosmetics, textiles, pulp and paper, and other industries. Several studies have found syringaldehyde has various potential health benefits. It has anti-inflammatory, antioxidant, and antimicrobial properties.
According to the Mintel research:
Gen Z is the least interested in fragrance. Skin sensitivity and issues such as dryness and acne motivate Gen Z’s avoidance of scent; 23% of Thai consumers have worried that using scented products may cause skin irritation. Only 56% of Gen Z men use deodorant daily, and just over a fifth (21%) are not using fragrance, a significantly high number compared to total consumers who do not use fragrance. (16%).
More than nine in ten (91%) of Gen X men are currently using body powder, and long-lasting scent is the number one priority (56%). Product performance, especially in controlling sweat (53%) and odor (50%) and anti-bacterial properties (38%), also ranks highly. Gen X men are also more likely to be concerned with itchiness, excessive sweat, and rashes than other consumers, driving the popularity of body powder products.
| Report Coverage | Details |
| Market Size by 2034 | USD 14.43 Billion |
| Market Size in 2023 | USD 7.28 Billion |
| Market Size in 2024 | USD 7.75 Billion |
| Market Growth Rate from 2024 to 2034 | CAGR of 6.42% |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2034 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Increasing demand from the pharmaceutical industry
The rising demand from the pharmaceutical industry is expected to accelerate the growth of the syringaldehyde market. Syringaldehyde has several bioactive properties and plays an integral role in biomedicine applications owing to the phenolic aldehyde group. Syringaldehyde has been shown to have biological properties such as antioxidant activity, antihyperglycemic activity, anti-antimicrobial activity, anti-inflammatory activity, and anti-tumorigenic agents in pharmaceuticals. Over the years, nanotechnology has significantly increased in numerous different areas, including biomedicine, where nanoparticles have the potential health benefits to treat certain diseases, such as cancer and diabetes. Therefore, the rise in chronic diseases globally contributes to market expansion during the forecast period.
Price fluctuations
The price fluctuations in raw materials are anticipated to restrain the market's expansion during the forecast period. Price volatility associated with the raw materials and production costs often affects the overall pricing of syringaldehyde in the market. In addition, the limited availability of raw materials poses a challenge for syringaldehyde production market growth as well as disrupts the supply chain, impacting market stability. Such factors may restrict the expansion of the global syringaldehyde market.
Growing demand for cosmetics products
The growing demand for cosmetics products is projected to offer immense growth opportunities to the syringaldehyde market in the coming years. Syringaldehyde is extensively used in cosmetics products as a fragrance ingredient and antioxidant due to its several potential anti-aging benefits, and it is widely known for its pleasant scent. The cosmetic industry is experiencing rapid growth around the world owing to the evolving consumer demand for high-quality skin. Thus, such factors are accelerating the syringaldehyde market growth as a result of the expanding cosmetic industry during the forecast period.
The fragrance & perfumes segment held the largest share of the syringaldehyde market in 2023 and is expected to sustain its position throughout the forecast period owing to the rising consumer demand for personalized scents and unique fragrances. The market has witnessed the rising use of syringaldehyde in the production of perfumes, due to its smoky and sweet aroma. Therefore, the rapid escalation of the fragrance and perfume industry is likely to contribute to the overall growth of the segment.
Financial comparison statistics for 2023 and 2024 by three months ended on March 31 of Newell brands.
| 2023 (USD million) | 2024 (USD million) | Change Rate | |
| Product sold cost | 1.323 | 1,149.00 | – |
| Gross profit | 482 | 504.00 | 4.60% |
| Operating income (loss) | 36 | 16 | – |
The flavor enhancer segment is expected to grow significantly in the syringaldehyde market during the forecast period. Syringaldehyde has pleasant aromatic properties, making it a valuable ingredient in the food and beverage industry as a flavor enhancer. Syringaldehyde is a popular ingredient used in the production of vanilla and other flavorings. In the food and beverages industry, it is also most commonly used as a preservative and antioxidant to prevent spoilage and maintain the freshness of food products.
The demand for the syringaldehyde market products as a flavor enhancer has been substantially rising as consumers are becoming more environmentally aware and health-conscious, which increases the popularity of products that are made from natural and organic sources over synthetic flavorings and preservatives. Thereby bolstering the growth of the segment.
Segments Covered in the Report
By Application
By Geography
For questions or customization requests, please reach out to us at sales@precedenceresearch.com
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client
Access TOC
Get a Sample