USD 0.85 billion
Global Cinnamon Market Size, Share, Growth Analysis, By Type(Ceylon Cinnamon, Cassia Cinnamon), By End-Use(Residential, Commercial) - Industry Forecast 2024-2031
Report ID:
SQMIG30H2036 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
64 |
Figures:
75
Global Cinnamon Market Insights
Cinnamon Market size was valued at USD 0.85 billion in 2019 and is poised to grow from USD 0.92 billion in 2023 to USD 1.68 billion by 2031, growing at a CAGR of 7.83% in the forecast period (2024-2031).
Cinnamon is well known for having various advantageous qualities that help in the treatment and prevention of a variety of medical disorders. It consequently finds use in a variety of sectors, such as food and beverage, pharmaceuticals, and cosmetics. The market is being driven in large part by rising consumer awareness of healthy foods and ingredients.
Cinnamon is a rich source of many minerals and nutrients, is high in antioxidants, reduces inflammation, and has been linked to a reduction in the risk of HIV-1, diabetes, and Alzheimer's disease. These advantages will probably increase product demand in the upcoming years. The Cassia variety is used to cure infections and the common cold, ease stomach and muscular spasms, stop nausea and vomiting and manage gas and diarrhea.
In the food and beverage sector, cinnamon is used as a flavoring ingredient and aromatic condiment. The condiment is used to flavor a variety of bread-based foods, cereals, and fruits in the United States. In North America, cinnamon powder is used to flavor eggnog, a typical and well-liked holiday beverage. Turkish cuisine likewise makes extensive use of spice, both in savory and sweet dishes. Additionally, it is a flavoring in some alcoholic beverages. In the US and some regions of Greece, for example, cinnamon whiskey is popular.
US Cinnamon Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Residential
Fastest Growth
Residential
Growth Rate
7.83% CAGR
Global Cinnamon Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Cinnamon Market Size By End-Use 2022-2028 ($ Bn)
Global Cinnamon Market Size By End-Use 2022-2028 (%)
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Global Cinnamon Market Segmental Analysis
Cinnamon Market is segmented based on type, end-use, and region. Based on type the Cinnamon Market is segmented into ceylon cinnamon, cassia cinnamon, korintje cinnamon, saigon cinnamon, and others. Based on end-use the Cinnamon Market is segmented into residential and commercial. Based on the region Cinnamon Market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Cinnamon Market Analysis by Type
In 2021, Ceylon cinnamon commanded a significant market share of more than 35.0%, a position it will hold through 2028. This kind, which is originally from Sri Lanka, where the majority of the spice is grown, is also grown for trade-in Madagascar and Seychelles. Mexico has become one of the world's top consumers of Ceylon cinnamon due to the fact that many Mexican dishes incorporate this spice. Due to its extremely low Coumarin concentration, consumers like it over other kinds. Due to its distinctive flavor and advantageous health benefits, consumers in nations like Belgium, the UK, and Italy have been wanting the same product in Europe.
Over the projection period, the Cassia sector is expected to increase at the fastest rate. Though several of its subspecies are grown throughout southern and eastern Asia, this variety is native to southern China. The product form is significantly less expensive than Ceylon cinnamon and is thought to be of poorer quality. As a result, it is the food that is consumed the most globally. Due to its potent flavor and many health benefits, cassia has found use in both the culinary sector and traditional Chinese medicine. This particular spice is now used all over the world to treat infections and the common cold, ease stomach and muscular cramps, stop nausea and vomiting and manage gas and diarrhea.
Cinnamon Market Analysis by End-Use
In terms of end-use, the residential sector accounted for more than 50% share of the global cinnamon market. Due to its sweet and spicy flavor, this spice has become more popular in the residential sector and is a major driver of increased product demand in this market. One of the essential elements in many Mexican meals is cinnamon, and as Mexican food gains popularity around the world, there will likely be an increase in demand for this seasoning during the projection period.
Cinnamon is expected to have strong demand from several commercial sectors, including the pharmaceutical, cosmetics, and food and beverage industries. This market is expected to grow at the highest CAGR of 14.2%. This spice is employed in the creation of numerous medications and health supplements because of its therapeutic qualities, which include its advantages as an antioxidant, anti-inflammatory, and antimicrobial.
Global Cinnamon Market By End-Use, 2021 (%), 2023 (%)
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Global Cinnamon Market Regional Insights
North America dominated the industry, with 35.5% of the total revenue generated globally. The primary driver of the industry is a shift in customer preference for herbal and healthful products. The region's high prevalence of illnesses such as Alzheimer’s, diabetes, and HIV-1 is projected to increase product demand. Due to its extremely low concentrations of Coumarin, a chemical proven to affect liver disease, Ceylon cinnamon is especially sought after in the United States.
Due to the greater manufacturing and sales rates of cinnamon in these areas, Asia Pacific held a sizable share of the global cinnamon market with the greatest market value share. Cinnamon has traditionally been consumed in nations like Indonesia, Sri Lanka, and India. Cinnamon's high intake in South Asia is mostly due to the use of spice in meals and tea. Cinnamon is among the main spices produced in China, and the country also consumes a large amount of it.
Global Cinnamon Market By Geography, 2022-2028, 2024-2031
- Largest
- Fastest
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Global Cinnamon Market Dynamics
Cinnamon Market Driver
- Over the projection period, the Cassia sector is expected to increase at the fastest rate. Although a variety of its subspecies are grown throughout southern and eastern Asia, this variant is native to southern China. The product form is significantly less expensive than Ceylon cinnamon and is thought to be of poorer quality. As a result, it is the food that is consumed the most globally. Due to its potent flavor and many health benefits, cassia has found use in both the culinary sector and traditional Chinese medicine. This particular spice is now used all over the world to treat infections and the common cold, ease stomach and muscular cramps, stop nausea and vomiting and manage gas and diarrhea.
- The essential oil of cinnamon extract is utilized in the cosmetics sector as an ingredient in a variety of personal care products. One of the best all-natural treatments for many illnesses, including constipation, the common cold, and cough is cinnamon-based essential oil. Additionally, the oil aids in promoting blood circulation, easing discomfort, lowering stress, warding off infections, enhancing digestion, and acting as an insect repellent. The use of cinnamon as a functional component in the creation of various nutraceutical products is predicted to increase as a result of these considerations.
Cinnamon Market Restraint
- It is expected that the market's expansion will be hampered by the fluctuation in cinnamon prices. Rain is needed to grow cinnamon. The variation in rainfall is responsible for the increase in cinnamon costs. Another factor contributing to the increased pricing of cinnamon is the lengthy time between planting and harvest.
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Global Cinnamon Market Competitive Landscape
Businesses have relied on mergers and acquisitions to broaden their product offerings and boost their position in the market. To meet consumer demand for ground and powdered cinnamon, they are also concentrating on new product launches, increasing their manufacturing capacity, and implementing cutting-edge technology. For instance, in June 2021, a new Carnation Breakfast Essentials Cinnabon Bakery Inspired Flavored Nutritional Drink was released in collaboration with Cinnabon by Nestlé Health Science. This 240-calorie nutritious drink offers users the well-known cinnamon roll flavors of Cinnabon together with 10 grams of protein.
Cinnamon Market Top Players Company Profiles
- Ceylon Spice Company
- McCormick & Company
- British Supermarket
- Bio Foods (Pvt) Limited
- Mountain Rose Herbs
- Saigon Cinnamon
- Goya Foods
- Tone's Spices
- Frontier Co-op
- Olam International
- Spice Jungle
- Badia Spices
- Watkins
- The Cinnamon Hill
- Burlap and Barrel
- Simply Organic
- Diaspora Co.
- Greenfield Bio Plantations
- P.F. Cusack (Spices) Ltd
- Taj Agro International
Cinnamon Market Recent Development
- In February 2022, the protected geographical indicator certificate for Ceylon cinnamon from Sri Lanka was formerly given by the European Union. By increasing market differentiation, this GI aids in communal ownership of the product.
- In September 2021, with assistance from the CSIR's Institute of Himalayan Bioresource Technology, Himachal Pradesh became the first state in India to start the organic production of a genuine kind of cinnamon (IHBT).
Global Cinnamon Key Market Trends
- Cinnamon is produced and exported by China, which is also the world's second-largest producer. Several south-eastern Chinese provinces, including Guangdong and Guangxi, as well as other well-cultivated landscapes, are the primary cinnamon-producing areas in China. Additionally, the use of cinnamon has significantly increased in the pharmaceutical and cosmetics industries throughout the world. The demand for cinnamon has increased, which is prompting big producers like China to expand their output.
Global Cinnamon Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the residential sector held the largest market share of cinnamon in 2021 and is expected to maintain its dominance throughout the forecast period. The residential sector accounted for more than 50% share of the global cinnamon market. In 2021, North America dominated the global cinnamon market owing to the region's highly aware and economically stable population, as well as a significantly higher number of procedures conducted.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 0.85 billion |
| Market size value in 2031 | USD 1.68 billion |
| Growth Rate | 7.83% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Cinnamon Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Cinnamon Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Cinnamon Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cinnamon Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Cinnamon Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Cinnamon Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Cinnamon Market Report Snapshots
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