Cinnamon Market

Market Overview: 

The global cinnamon market size reached US$ 1.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032. The wide product employment in the pharmaceutical and food and beverage (F&B) industries, rising usage as a dietary supplement for diabetes, irritable bowel syndrome or other gastrointestinal problems or conditions, and its increasing adoption in every household due to its exotic flavor and aroma are some of the factors driving the cinnamon market.

Cinnamon refers to a spice that is derived from the inner barks of the Cinnamomum family. The cinnamon is made by cutting the stems of these trees, the inner bark is then extracted, and the woody parts are removed. After the barks are dried, they are formed into strips that curl into rolls. It is found in the Caribbean, Southeast Asia, and South America. Cinnamon contains antioxidants that protect the human body from oxidative damage caused by free radicals. This spice also contains anti-inflammatory properties, which assist the body in responding to infections and repairing damaged tissues. Cinnamon has also been associated with a reduced risk of heart disease and is considered one of the most vital components in Ayurveda and Chinese medicines as well as perfumery products.

Cinnamon Market Trends: 

One of the primary factors driving the market is the increasing product adoption in the kitchen of every household due to its exotic flavor and aroma. Additionally, the augmenting demand for cinnamon due to its wide adoption in bakery products, snacks and hot beverages, such as coffee, tea, and hot chocolate, is creating a positive market outlook. Cinnamon is widely known for its sweet taste, which increases the flavor and taste profile of various food products, thus creating a positive market outlook. It is also promoted as a dietary supplement for diabetes, irritable bowel syndrome or other gastrointestinal problems or conditions. Besides this, cinnamon is extensively used in the poultry industry to seek healthier alternatives to antibiotic growth promoters (AGPs) and establish sustainable feed management strategies to improve the intestinal health and growth performance of poultry. In line with this, the easy availability of high-quality cinnamon is propelling the market growth. Apart from this, the exponential growth in the food and beverage (F&B) industry is catalyzing the market growth. Furthermore, the rise in consumption of flavored foods in confluence with the popularity of Indian cuisine is catalyzing the market growth. Consumers are constantly opting for natural and organic food products which are creating lucrative growth opportunities for the key players operating in the industry. Moreover, extensive research and development (R&D) activities by key players in order to expand their consumer base is strengthening the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the cinnamon market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on the product, form, and sales channel.

Product Insights:

• Ceylon
• Cassia
• Saigon
• Korintje
   

The report has provided a detailed breakup and analysis of the cinnamon market based on the product type. This Ceylon, cassia, Saigon, and korintje. According to the report, ceylon represented the largest segment.

Form Insights:

• Whole
• Extract
   

The report has provided a detailed breakup and analysis of the cinnamon market based on the form type. This includes whole and extract.

Sales Channel Insights:

• B2B
• B2C
   

The report has provided a detailed breakup and analysis of the cinnamon market based on the sales channel type. This includes B2B and B2C.

Regional Insights: 

• North America   
  • United States 
  • Canada 
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others 
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Other 
• Latin America
  • Brazil
  • Mexico
  • Others 
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for cinnamon. One of the factors driving the Asia Pacific cinnamon market included growing demand for cinnamon in the food and beverage industry, increasing awareness about the health benefits of cinnamon, and growing popularity of natural and organic products.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global hydrochloric acid market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies include Bart Ingredients Company Ltd., Biofoods Pvt. Ltd., C.F. Sauer Company, Ceylon Spice Company, Elite Spice Inc., EOAS International, First Spice Mixing Company Inc., HDDES Group, McCormick & Company Inc., Organic Spices Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global cinnamon market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global cinnamon market?
• What is the impact of each driver, restraint, and opportunity on the global cinnamon market?
• What are the key regional markets?
• Which countries represent the most attractive cinnamon market?
• What is the breakup of the market based on the product type?
• What is the most attractive product type in the cinnamon market?
• What is the breakup of the market based on the form?
• What is the most attractive form type in the cinnamon market?
• What is the breakup of the market based on the sales channel?
• What is the most attractive form of sales channel in the cinnamon market?
• What is the competitive structure of the global cinnamon market?
• Who are the key players/competitors in the cinnamon market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the market from 2018-2032.  
• The research study provides the latest information on the market drivers, challenges, and opportunities in the cinnamon market.  
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region. 
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within cinnamon industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.