Cinnamon Market Size, Share & Industry Analysis, By Type (Ceylon Cinnamon, Saigon Cinnamon, Cassia Cinnamon, Korintje Cinnamon, Others), By Form (Quills, Chips, Powder, Oil, Others), By Application (Essential Oils & Aroma Therapy, Beverages, Bakery, Other Processed Foods, Pharmaceutical, Cosmetics) and Regional Forecast, 2024-2032

Cinnamon is used as a flavouring agent in a variety of cuisines. It is a spice obtained from the bark of trees from a genus Cinnamomum. The growth of the global cinnamon market is fuelled by rising awareness of health benefits associated with cinnamon in lowering blood glucose and cholesterol levels. Cinnamon is an integral part of Asian and Middle Eastern cuisines.

The consumption of cinnamon is gaining importance as various studies have proved its capability in reducing fasting glucose levels in type II diabetic patients. The pharmaceutical companies are focusing on developing cinnamon based formulations as cinnamon has anti-inflammatory, anti-bacterial, anti-fungal and, anti-carcinogenic properties.

The manufacturers are focusing on developing innovative products to cater to the growing demand for cinnamon across the globe. For instance, in September 2019, Cinnamon Hill Ltd. launched cinnamon capsules that contain organic Ceylon cinnamon powder.

The growth of spices and condiments market is primarily driving the global cinnamon market. The rising demand for spices such as cinnamon in essential oils and aromatherapy is expected to fuel the growth of the market. The demand for cinnamon is also increasing in the bakery industry. The increasing awareness of the health benefits of cinnamon such as lowering blood glucose levels is expected to drive the market growth among insulin sensitive and type II diabetic consumers across the globe. The anti-microbial property of cinnamon is expected to increase the demand among the pharmaceutical and cosmetic industry.

The fluctuation in prices of cinnamon is expected to impede the growth of the market. Cinnamon is a rain-fed crop. The fluctuation in rainfall causes the rise in cinnamon prices. The long period between plantation and harvest is another reason for the higher prices of cinnamon

Key Players Covered:

The key players which operate in global cinnamon market are Pure Ceylon Cinnamon, Fuchs Group, ACH Food Companies, Inc., Biofoods Pvt. Ltd., Mc Cormick & Company, Inc., Sauer Brands, Inc., Elite Spice, Inc., HDDES Group, SDS Spices Pvt. Ltd., The Ceylon Spice Company Pvt. Ltd.

The cinnamon market is segmented by type, form, application, distribution channel, and geography. Based on type, the market is segmented into Ceylon cinnamon, Saigon cinnamon, Cassia cinnamon, Korintje cinnamon and others. The Ceylon cinnamon is expected to be one of the leading product types in the global market due to its high safety profile attributed to low levels of coumarin present in it.

Based on the form, the market is divided into cinnamon quills, cinnamon chips, cinnamon powder and cinnamon oil. The powdered form is expected to witness the highest growth owing to its easier availability and wide application.

Based on the application, the global cinnamon market includes essential oils & aromatherapy, beverages, bakery products, other processed foods, pharmaceuticals and cosmetics.

Regional Analysis:

The global cinnamon market is segmented into North America, Europe, Asia Pacific, South America, Middle East and Africa. North America is expected to show the highest growth of the market, followed by Europe and the Asia Pacific. The increasing trend of using natural and organic products for health benefits and rising demand for cinnamon flavoured desserts and chocolates is expected to fuel the growth of the market in these regions.

Segmentation

Key Industry Developments

• In October 2017, Fuchs Group, Germany’s leading spices manufacturer, acquired UK based spices and herbs producer, The Bart Ingredients Co. Ltd.


• In September 2019, Sri Lanka Export Development launched a new brand called ‘Ceylon Spice’ for production, processing and branding of Sri Lankan origin spices such as cinnamon.