Global Cinnamon Market

Cinnamon Market Size, Share, Growth Analysis, By Type(Ceylon Cinnamon, Cassia Cinnamon, Korintje Cinnamon, Saigon Cinnamon), By End-Use(Residential, Commercial), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30H2036 | Region: Global | Published Date: July, 2001
Pages: 165 | Tables: 64 | Figures: 75

Cinnamon Market Competitive Landscape

Businesses have relied on mergers and acquisitions to broaden their product offerings and boost their position in the market. To meet consumer demand for ground and powdered cinnamon, they are also concentrating on new product launches, increasing their manufacturing capacity, and implementing cutting-edge technology. For instance, in June 2021, a new Carnation Breakfast Essentials Cinnabon Bakery Inspired Flavored Nutritional Drink was released in collaboration with Cinnabon by Nestlé Health Science. This 240-calorie nutritious drink offers users the well-known cinnamon roll flavors of Cinnabon together with 10 grams of protein.

Cinnamon Market Top Players Company Profiles

  • Ceylon Spice Company
  • McCormick & Company
  • British Supermarket
  • Bio Foods (Pvt) Limited
  • Mountain Rose Herbs
  • Saigon Cinnamon
  • Goya Foods
  • Tone's Spices
  • Frontier Co-op
  • Olam International
  • Spice Jungle
  • Badia Spices
  • Watkins
  • The Cinnamon Hill
  • Burlap and Barrel
  • Simply Organic
  • Diaspora Co.
  • Greenfield Bio Plantations
  • P.F. Cusack (Spices) Ltd
  • Taj Agro International

 Cinnamon Market Recent Development

  • In February 2022, the protected geographical indicator certificate for Ceylon cinnamon from Sri Lanka was formerly given by the European Union. By increasing market differentiation, this GI aids in communal ownership of the product.
  • In September 2021, with assistance from the CSIR's Institute of Himalayan Bioresource Technology, Himachal Pradesh became the first state in India to start the organic production of a genuine kind of cinnamon (IHBT).
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Cinnamon Market size was valued at USD 0.85 billion in 2019 and is poised to grow from USD 0.92 billion in 2023 to USD 1.68 billion by 2031, growing at a CAGR of 7.83% in the forecast period (2024-2031).

Businesses have relied on mergers and acquisitions to broaden their product offerings and boost their position in the market. To meet consumer demand for ground and powdered cinnamon, they are also concentrating on new product launches, increasing their manufacturing capacity, and implementing cutting-edge technology. For instance, in June 2021, a new Carnation Breakfast Essentials Cinnabon Bakery Inspired Flavored Nutritional Drink was released in collaboration with Cinnabon by Nestlé Health Science. This 240-calorie nutritious drink offers users the well-known cinnamon roll flavors of Cinnabon together with 10 grams of protein. 'Ceylon Spice Company', 'McCormick & Company', 'British Supermarket', 'Bio Foods (Pvt) Limited', 'Mountain Rose Herbs', 'Saigon Cinnamon', 'Goya Foods', 'Tone's Spices', 'Frontier Co-op', 'Olam International', 'Spice Jungle', 'Badia Spices', 'Watkins', 'The Cinnamon Hill', 'Burlap and Barrel', 'Simply Organic', 'Diaspora Co.', 'Greenfield Bio Plantations', 'P.F. Cusack (Spices) Ltd', 'Taj Agro International'

Over the projection period, the Cassia sector is expected to increase at the fastest rate. Although a variety of its subspecies are grown throughout southern and eastern Asia, this variant is native to southern China. The product form is significantly less expensive than Ceylon cinnamon and is thought to be of poorer quality. As a result, it is the food that is consumed the most globally. Due to its potent flavor and many health benefits, cassia has found use in both the culinary sector and traditional Chinese medicine. This particular spice is now used all over the world to treat infections and the common cold, ease stomach and muscular cramps, stop nausea and vomiting and manage gas and diarrhea.

Cinnamon is produced and exported by China, which is also the world's second-largest producer. Several south-eastern Chinese provinces, including Guangdong and Guangxi, as well as other well-cultivated landscapes, are the primary cinnamon-producing areas in China. Additionally, the use of cinnamon has significantly increased in the pharmaceutical and cosmetics industries throughout the world. The demand for cinnamon has increased, which is prompting big producers like China to expand their output.

North America dominated the industry, with 35.5% of the total revenue generated globally. The primary driver of the industry is a shift in customer preference for herbal and healthful products. The region's high prevalence of illnesses such as Alzheimer’s, diabetes, and HIV-1 is projected to increase product demand. Due to its extremely low concentrations of Coumarin, a chemical proven to affect liver disease, Ceylon cinnamon is especially sought after in the United States.

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Global Cinnamon Market

Report ID: SQMIG30H2036

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