Cinnamon Market Overview:
The Cinnamon Market size was estimated at USD 760.2 million in 2021 and is expected to increase at a compound annual growth rate (CAGR) of around 14% by the end of 2027, reaching a value of around USD 2 billion.
Spices are essential for producing the taste and flavour of food products, and they also have several health benefits. As a result, demand for healthy and tasty spices like cinnamon is on the rise. Cinnamon is well-known for its sweet flavour, which enhances the flavour and taste profile of food. Cinnamon is a spice made from the inner bark of tropical tree species belonging to the Cinnamomum genus. Cinnamomum cassia and Cinnamomum zeylanicum are the two main kinds offered. Cinnamomum cassia, for example, is a popular spice in North America with a dark brown colour and a stronger flavour that is commonly used to flavour a variety of foods. Cinnamon zeylanicum, often known as Ceylon cinnamon or real cinnamon, has a lighter hue than cassia cinnamon and a gentler, more delicate flavour. The most popular cinnamon are those which have a pale, parchment-like appearance. Cinnamon is mostly found in baked foods including cakes, pancakes, and other baked goods, as well as milk and rice pudding. It’s also found in fruit desserts and chocolate dishes, primarily pears and apples. Cinnamon can be used to flavour creams, syrups, and wines, among other things. Cinnamon powder is also used to flavour a wide range of beverages, soups, and desserts. These features increases the Cinnamon Market growth.
Consumers are increasingly looking for a balance of taste and nutrition in every food product, as the demand for healthy eating grows without sacrificing taste. This has raised the demand for healthful food ingredients, such as spices, which are the primary components that give food its taste and flavour.
Cinnamon also has health-promoting properties, such as antioxidants that fight free radicals and prevent cell damage. Cinnamon also aids in the control of blood sugar and cholesterol levels. All these reasons are contributing to the global Cinnamon Market share.
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Cinnamon Market Segmentation Analysis:
Based on Type:
- Ceylon Cinnamon
- Cassia Cinnamon
- Saigon Cinnamon
- Korintje Cinnamon
- Others
Ceylon cinnamon had a leading Cinnamon Market share of more than 35.0 per cent in 2021 and will continue to do so through the forecast period. This kind is native to Sri Lanka, where most of the spices are produced, although it is also grown commercially in Seychelles and Madagascar. As this spice is used in many Mexican dishes, Mexico has become one of the world’s biggest users of Ceylon cinnamon. Because of its ultra-low Coumarin level, it is favoured by consumers above other versions.
Over the projected period, the Cassia segment is expected to increase at the fastest rate in Cinnamon Market. This variation is native to southern China, but several subspecies are grown throughout southern and eastern Asia. The product form is of poorer grade and is significantly less expensive than Ceylon cinnamon. As a result, it is the most often consumed food on the planet. Cassia’s strong flavour and several therapeutic characteristics have found use in the culinary sector as well as in traditional Chinese medicine. This spice variation is now used all over the world to cure stomach and muscle spasms, infections and the common cold, nausea and vomiting among others.
Based on Application:
- Food & Beverages
- Medicines
- Cosmetics
In terms of application, the food and beverage sector dominated the Cinnamon Market in 2021, accounting for over 50.0 per cent of the total. Due to its sweet and spicy flavour, cinnamon has become increasingly popular in a variety of meals, and this is a crucial driver of this market. Consumer knowledge of the many benefits of cinnamon has resulted in increased demand in nations such as the United Kingdom, the United States, Belgium, Italy, and India. Cinnamon is a key ingredient in a variety of Mexican recipes, and demand for this condiment is likely to climb over the forecast period as the popularity of Mexican cuisine grows around the world.
Cinnamon is predicted to enjoy strong demand from a variety of commercial sectors, including pharmaceuticals, cosmetics, food, and drinks. This spice is utilized in the creation of numerous medicines and medical supplements due to its medicinal qualities, which include benefits as an antioxidant, anti-inflammatory, and anti-microbial.
Based on Distribution Channel:
- Hypermarkets
- Supermarkets
- Online Retailers
- Convenience Stores
- Speciality Stores
Based on the distribution channel, the hypermarkets dominate the Cinnamon Market in this segment due to the easy availability, on the shelf display and wide access to a larger network of people.
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Cinnamon Market Regional Analysis:
- North America (the U.S. and Canada)
North America dominated the Cinnamon Market in 2021, accounting for approximately 35.5 per cent of total revenue. The key driver of the industry is a shift in customer preferences toward herbal and healthy products. Cinnamon is a good source of a variety of nutrients and minerals, as well as an anti-inflammatory, antioxidant-rich, and weight-loss agent. Alzheimer’s disease, diabetes, and HIV-1 are among the ailments that the spice has been proved to help with.
- Asia Pacific (Japan, China, India and Rest of APAC)
The Asia Pacific area has the biggest utilisation of cinnamon in the international market, particularly in countries like India and China. Cinnamon is used in almost all Indian cuisines to enhance the overall aroma of foods and to raise awareness of the health benefits of this spice. In the following years, this region is expected to have the greatest CAGR.
- Middle-East & Africa (GCC and Rest of MEA)
Growing demand for cinnamon in various food products for flavour, expanding scope in bakery, pharmaceuticals, and cosmetics sectors, and increased awareness about the health advantages of cinnamon are all driving the Middle East and Africa Cinnamon Market.
- Latin America (Brazil, Mexico and the Rest of Latin America)
- Europe (U.K., France, Germany and Rest of Europe)
Latest Industry Developments:
McCormick & Company, for example, introduced new organic seasonings under the McCormick Gourmet brand. Cinnamon is one of the primary ingredients of these seasonings.
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