NEW
YORK, July 3, 2024 /PRNewswire/ -- The
global cinnamon market size is estimated to grow by
USD 412.9 million from 2024-2028,
according to Technavio. The market is estimated to grow at a
CAGR of about 7.97% during the forecast period. Rising awareness
about health benefits of cinnamon is driving market growth, with a
trend towards growing application of cinnamon in pharmaceuticals.
However, compliance constraints with international food standards
and export regulations poses a challenge. Key market players
include Biofoods Pvt. Ltd., Cell Foods, Ceylon Spice Co.,
Cinnamon Exports Pvt Ltd., EHL Ltd., Elite Spice Inc., EOAS
Organics Pvt Ltd., First Spice Mixing Co., Goya Foods Inc., HDDES
Group, McCormick and Co. Inc., Organic Spices Inc., Ozone Naturals,
Sauer Brands Inc., SDS Spices, Taj Agro International, The Bart
Ingredients Co., The Great American Spice Co., True Ceylon Spices,
and Vijaya Enterprises.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Cassia
cinnamon and Ceylon cinnamon), Application (Residential and
Commercial), and Geography (APAC, North America, Europe, South
America, and Middle East and Africa)
|
Region
Covered
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
Biofoods Pvt. Ltd.,
Cell Foods, Ceylon Spice Co., Cinnamon Exports Pvt Ltd., EHL Ltd.,
Elite Spice Inc., EOAS Organics Pvt Ltd., First Spice Mixing Co.,
Goya Foods Inc., HDDES Group, McCormick and Co. Inc., Organic
Spices Inc., Ozone Naturals, Sauer Brands Inc., SDS Spices, Taj
Agro International, The Bart Ingredients Co., The Great American
Spice Co., True Ceylon Spices, and Vijaya Enterprises
|
Key Market Trends Fueling Growth
The global cinnamon market is experiencing growth due to the
increasing use of cinnamon and cinnamon oil in medicine and
pharmaceuticals. Their antimicrobial properties, particularly the
ability of cinnamaldehyde to break up bacterial biofilms, make them
a potential replacement for antibiotics in treating infections.
This development is significant given the rising number of
bacterial species resistant to antibiotics. Cinnamon's role in the
medical sector is expected to continue expanding.
The Cinnamon market is currently experiencing significant growth
in demand for its unique and versatile flavors. Minerals, nuts, and
almonds are popular ingredients used in cinnamon-based products.
These include aromatics, casseis, and condiments. Diabetes and
health-conscious consumers are particularly interested in
cinnamon's benefits. Cinnamon is used in various forms, such as
sticks, powder, and essential oils. Cosmetics and spice blends also
utilize cinnamon. Brands are focusing on sustainable farming
practices and organic production to cater to consumer preferences.
The future looks bright for the cinnamon industry, with a strong
focus on innovation and product development.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The global cinnamon market has faced challenges due to
exporting countries like Sri Lanka
not meeting buyer specifications. Strict regulations in importing
countries, such as Western European nations, require compliance
with the European Spice Association's Quality Minima Document and
the General Food Law. Intergovernmental organizations are working
to enhance product quality standards in Sri Lanka, but these regulations may initially
restrict market growth and increase production costs for key
exporters.
- The Cinnamon market faces several challenges in the production
and procurement process. Condiments like cinnamon are essential in
food production, but obtaining high-quality cinnamon consistently
can be difficult. The supply chain involves various countries,
including China, Indonesia, and Sri
Lanka. Producers in these countries must contend with
factors such as weather conditions, labor availability, and
regulatory compliance. Additionally, the price of cinnamon can be
volatile due to market fluctuations and production issues. To
address these challenges, companies must build strong relationships
with suppliers and implement effective supply chain management
strategies. Furthermore, investing in research and development to
improve production methods and quality control can help mitigate
risks and ensure a consistent supply of cinnamon.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This cinnamon market report extensively covers market
segmentation by
- Product
- 1.1 Cassia cinnamon
- 1.2 Ceylon cinnamon
- Application
- 2.1 Residential
- 2.2 Commercial
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Cassia cinnamon- The Cassia cinnamon segment, led
by Indonesian and Indian varieties, dominates the global cinnamon
market due to their affordability and widespread use as flavoring
agents in baked goods and beverages. However, concerns over health
risks from coumarin and production challenges may lead to a decline
in market share and slower growth compared to the Ceylon cinnamon
segment. Saigon cinnamon, with its
unique spiciness and applications in food and medicine, also
contributes to the market. Regulations and quality standards are
expected to impact Cassia cinnamon's growth in the US and
Europe.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The global Cinnamon market is experiencing significant growth
due to its numerous health benefits and versatile applications in
various food products and savory cuisines. Cinnamon, a popular
spice and culinary ingredient, is rich in minerals, nutrients, and
antioxidants. It is known to help regulate blood glucose levels,
making it beneficial for individuals with diabetes. Additionally,
cinnamon has anti-inflammatory properties and is believed to aid in
the prevention and relief of medical conditions such as Alzheimer's
disease, infections, common cold, stomach spasms, muscular spasms,
nausea, vomiting, gas, and diarrhea. Cinnamon consumption can be
found in poultry industry, antibiotic growth promotors, beverages,
bakeries, confectionery, and organic foods. Healthy eating trends
and the desire for natural flavor enhancers continue to drive the
demand for this savory spice.
Market Research Overview
The Cinnamon Market encompasses a diverse range of products and
services, primarily centered around the versatile and aromatic
spice, cinnamon. This market includes the production, processing,
and distribution of cinnamon in its various forms, such as sticks,
powder, and essential oil. Consumers utilize cinnamon in numerous
applications, including culinary uses, traditional medicines, and
industrial processes. The market spans across multiple regions,
with significant production in countries like Sri Lanka, Indonesia, and China. Producers and suppliers employ various
methods to ensure the quality and consistency of their cinnamon
offerings. Additionally, the market experiences fluctuations in
demand due to seasonal trends and consumer preferences. Overall,
the Cinnamon Market is a dynamic and intriguing sector that caters
to a wide array of industries and applications.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Cassia Cinnamon
- Ceylon Cinnamon
- Application
-
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio