Cinnamon Market

Cinnamon Market Size, Share & Trends Analysis Report

cinnamon market Size, Share & Trend Analysis 2029

Report ID : AIMR 578
Number of pages : 200
Published Date : Mar 2023
Category : Beverages
Delivery Timeline : 48 hrs

The global cinnamon market size is expected to grow at a CAGR of +9% from 2022 to 2028.

Cinnamon is a spice that has been in use for thousands of years. It is obtained from the bark of the Cinnamomum tree and is widely used in both sweet and savory dishes. Apart from its culinary uses, cinnamon is also used in traditional medicine for its health benefits. In recent years, the global demand for cinnamon has been on the rise, and this trend is expected to continue in the coming years.

Key Players in the Industry

Some of the key players in the global cinnamon market include

  • Adam Group
  • Bio Foods (Pvt) Ltd.
  • Ceylon Spice Company
  • Elite Spice
  • HDDES Group
  • First Spice Mixing Company
  • Goya Foods Inc.
  • McCormick & Company Inc.
  • Olam International
  • Organic Spices Inc.
  • And Others…

Market Segmentation:

By Type

  • Ceylon Cinnamon
  • Saigon Cinnamon
  • Cassia Cinnamon
  • Korintje Cinnamon
  • Others

By Form

  • Quills
  • Chips
  • Powder
  • Oil
  • Others

By Regional & Country Level:

  • North America

    • U.S.
    • Canada
  • Europe

    • U.K.
    • France
    • Germany
    • Italy
  • Asia Pacific

    • China
    • Japan
    • India
    • Southeast Asia
  • Latin America

    • Brazil
    • Mexico
  • Middle East and Africa

    • GCC
    • Africa
    • Rest of Middle East and Africa

Major Trends and Drivers Affecting the Industry

The increasing popularity of organic and natural products is driving the growth of the cinnamon market. Consumers are becoming more health-conscious and are opting for products that are free from synthetic chemicals and pesticides. Cinnamon is a natural ingredient that is free from harmful chemicals and is therefore in high demand.

Another trend that is driving the growth of the cinnamon market is the increasing use of cinnamon in the food and beverage industry. Cinnamon is widely used in bakery products, confectionery, and beverages, and its use is expected to increase in the coming years.

Opportunities and Threats in the Industry

One of the major opportunities in the cinnamon market is the increasing demand for cinnamon in developing countries. As the disposable income of consumers in these countries increases, they are becoming more willing to spend on premium products like cinnamon. The growing popularity of cinnamon in the cosmetics and personal care industry is also creating new opportunities for players in the market.

One of the major threats in the cinnamon market is the increasing competition from other spices and flavorings. While cinnamon is a popular ingredient, it faces stiff competition from other spices like cardamom, clove, and nutmeg. In addition, the high cost of cinnamon is also a major challenge, especially for small-scale farmers who find it difficult to compete with large players.

Regulatory and Legal Issues Affecting the Industry

The cinnamon market is subject to various regulatory and legal issues. One of the major issues is the presence of harmful substances like coumarin in cinnamon. Coumarin is a natural compound found in cinnamon that can cause liver damage if consumed in large quantities. Regulatory bodies like the European Union have set limits on the amount of coumarin that can be present in cinnamon products.

Target Demographics and Preferences

The target demographics for the cinnamon market are consumers who are health-conscious and are willing to spend on premium products. Cinnamon is widely used by people of all ages and genders, but it is more popular among millennials and Generation Z consumers who are more open to trying new flavors and ingredients.