Global Cinnamon Market Outlook
According to a new report by Expert Market Research titled “Global Cinnamon Market Size, Share, Analysis, Report, Growth, Forecast 2023-2028″, the global cinnamon market is projected to grow at a CAGR of 7.9% between 2023 and 2028. Aided by the burgeoning demand for natural flavours, the growing use of cinnamon in health supplements, and its diversified applications across multiple sectors, the market is expected to grow significantly by 2028.
Cinnamon, an aromatic spice derived from the bark of trees belonging to the genus Cinnamomum, is often used as a flavouring agent in a variety of foods and beverages. Aside from its culinary use, cinnamon possesses noteworthy health benefits, including anti-inflammatory, anti-diabetic, and antioxidant properties. It has hence earned a reputable position not only in households but also in traditional medicine and the pharmaceutical sector.
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The escalation in consumer preference for natural and organic foods has been a pivotal factor in steering the cinnamon market growth. As consumers are becoming increasingly cautious of their dietary choices due to heightened awareness of health and wellness, the demand for natural additives like cinnamon has spiked. This is especially true for countries with a strong tradition of using spices, such as India, China, and the countries of the Middle East.
The trend of fitness and wellness is accentuating the popularity of cinnamon, as it plays an active role in metabolic health and weight management. As a result, cinnamon extracts have found their way into health supplements, a market that is itself seeing robust growth. This factor is significantly contributing to the upswing in the cinnamon market demand as it becomes a staple in nutraceutical products.
Moreover, cinnamon has secured its position in several industrial applications beyond food and beverages. The pharmaceutical sector, for instance, is leveraging cinnamon’s natural medicinal properties for developing medications that target issues like high blood sugar levels and inflammation. The cosmetic industry is also integrating cinnamon in formulations due to its antimicrobial and skin-enhancement qualities. As per the cinnamon market analysis, its applications extend even to the manufacturing of dental care products, where its natural antimicrobial properties are valuable.
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Another compelling facet that is spurring the market growth is its increasing usage in gourmet foods and specialty beverages. With the burgeoning trend of exotic and uniquely flavoured foods, cinnamon is experiencing heightened demand as a premium ingredient in restaurants and food services, both in savoury and sweet applications and adding value to the cinnamon market size.
Global Cinnamon Market Segmentation
The market can be divided based on form, product, application, distribution channel, and region.
Market Breakup by Form
Market Breakup by Product
Market Breakup by Application
- Food and Beverage
Market Breakup by Distribution Channel
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global cinnamon market. Some of the major players explored in the report by Expert Market Research are as follows:
- Pure Ceylon Cinnamon
- Biofoods Pvt Ltd (BIBP)
- HDDES Group
- Sauer Brands, Inc.
- First Spice Mixing Company Inc.
- Elite Spice, Inc.
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