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

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).

Cinnamon is well known for having various advantageous qualities that help in the treatment and prevention of a variety of medical disorders. It consequently finds use in a variety of sectors, such as food and beverage, pharmaceuticals, and cosmetics. The market is being driven in large part by rising consumer awareness of healthy foods and ingredients.

Cinnamon is a rich source of many minerals and nutrients, is high in antioxidants, reduces inflammation, and has been linked to a reduction in the risk of HIV-1, diabetes, and Alzheimer's disease. These advantages will probably increase product demand in the upcoming years. The Cassia variety is used to cure infections and the common cold, ease stomach and muscular spasms, stop nausea and vomiting and manage gas and diarrhea.

In the food and beverage sector, cinnamon is used as a flavoring ingredient and aromatic condiment. The condiment is used to flavor a variety of bread-based foods, cereals, and fruits in the United States. In North America, cinnamon powder is used to flavor eggnog, a typical and well-liked holiday beverage. Turkish cuisine likewise makes extensive use of spice, both in savory and sweet dishes. Additionally, it is a flavoring in some alcoholic beverages. In the US and some regions of Greece, for example, cinnamon whiskey is popular.

US Cinnamon Market is poised to grow at a sustainable CAGR for the next forecast year.