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The cinnamon market size is forecast to increase by USD 412.9 million, at a CAGR of 7.97% between 2023 and 2028.
Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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Cinnamon, a versatile and sought-after spice, continues to captivate various sectors with its dynamic market activities. From pharmaceutical applications to culinary uses, the evolving nature of this market is shaped by ongoing research and development. Cinnamon's active components, including cinnamaldehyde, polyphenols, and antioxidants, are subject to rigorous quality assessment, ensuring consistency and efficacy. Cultivation practices, such as sustainable farming and disease resistance, influence ingredient sourcing and the antioxidant capacity assay. The anti-inflammatory effects of cinnamon are a focus in pharmaceutical applications, while aroma compounds and spice blends cater to the culinary industry. Cinnamon's extraction methods, including oil distillation and bark extraction, are continually refined to optimize yield and improve processing techniques.
The supply chain is shaped by global demand, with various countries contributing to the genetic diversity of cinnamon. Cinnamon's health benefits, including blood sugar regulation and antimicrobial properties, fuel innovation in food applications and cosmetics. Sustainability and pest management are essential considerations in the cinnamon industry, ensuring a high-quality product with a long shelf life. The continuous unfolding of market activities and evolving patterns in the market reflect the ongoing research and development in this dynamic sector.
The cinnamon industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The cassia cinnamon segment is estimated to witness significant growth during the forecast period.
Cinnamon, a versatile spice derived from the inner bark of several trees, is renowned for its distinct flavor and aroma. Three primary varieties dominate the market: Indonesian, Saigon, and Chinese cinnamon. Indonesian cinnamon, the most widely used in the Cassia cinnamon segment, is sourced primarily from Indonesia. It is characterized by its sweet and mild taste, making it an ideal choice for baking and beverages. Saigon cinnamon, grown mainly in Vietnam, is known for its strong and spicy flavor. This variety is employed not only in culinary applications but also in the pharmaceutical sector for medicinal purposes, particularly for diabetes and arthritis.
Chinese cinnamon, predominantly produced in China, is used extensively in traditional Chinese medicine for treating ailments such as cough and fever. The cultivation practices for cinnamon involve careful harvesting of the bark, which undergoes various processing techniques, including sun-drying, steaming, and grinding, to produce ground cinnamon powder or cinnamon sticks. The extraction methods for cinnamon oil involve distillation, which yields cassia essential oil and cinnamon bark extract. The antioxidant capacity of cinnamon is attributed to its active components, including polyphenols and cinnamaldehyde content. These properties contribute to cinnamon's health benefits, such as antimicrobial properties, blood sugar regulation, and anti-inflammatory effects.
Cinnamon's applications extend beyond the culinary realm. It is used in cosmetics for its aroma compounds and antioxidant properties. The sustainability of cinnamon production is a concern, with efforts being made to optimize yield and employ pest management techniques. The supply chain for cinnamon involves various stakeholders, from farmers to processors, traders, and end-users. The market for cinnamon continues to evolve, with ongoing research into its genetic diversity, health benefits, and potential applications in various industries.
The Cassia cinnamon segment was valued at USD 552.90 million in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 74% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Cinnamon, a versatile spice widely used in various cuisines, particularly in Asia, is gaining increasing recognition for its health benefits and diverse applications. Cassia cinnamon, predominantly used in Indian cooking, has seen popularity surge in recent years. However, growing concerns over its health implications are likely to influence market dynamics. Meanwhile, the expanding use of cinnamon in pharmaceuticals and cosmetics sectors has propelled market growth. Cultivated for centuries in traditional Chinese and Indian medicine, cinnamon's health benefits include aiding indigestion, regulating blood sugar, and exhibiting anti-inflammatory properties. Cinnamon's antioxidant capacity, attributed to its polyphenols and cinnamaldehyde content, is another significant factor driving demand.
Sustainable cultivation practices, pest management, and optimization of yield are crucial considerations in the cinnamon supply chain. The versatile spice is also used in beverages, food applications, and as a flavoring agent in various spice blends. Cinnamon's aroma compounds and flavor profiles contribute to its widespread appeal. In the cosmetics industry, cinnamon oil distillation and extraction methods are used to derive essential oils and bark extracts for various applications. The market for cinnamon continues to evolve, with ongoing research into its health benefits and expanding applications.
The Cinnamon Market is thriving as demand for cinnamon, particularly Ceylon cinnamon and organic cinnamon, surges among cinnamon for health-conscious consumers. Cinnamon in baking and cinnamon in beverages enhance culinary applications, while cinnamon supplements and cinnamon supplements for blood sugar support cater to wellness trends. Cinnamon clean label and cinnamon sustainable sourcing appeal to eco-conscious buyers, supported by cinnamon sustainable production methods. Cinnamon oil and cinnamon powder add versatility to products, driving growth in the cinnamon organic market. Cinnamon for digestive health and best Ceylon cinnamon for health benefits attract health-focused consumers, while cinnamon for clean label food products and organic cinnamon for baking recipes boost market appeal, ensuring robust expansion.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The cinnamon market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the cinnamon market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, cinnamon market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Biofoods Pvt. Ltd. - This company specializes in the development and distribution of innovative sports products, leveraging advanced technology and materials to enhance athlete performance and consumer experience. Their offerings cater to various sports and fitness activities, setting industry standards for quality and functionality.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Cinnamon Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
162 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.97% |
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Market growth 2024-2028 |
USD 412.9 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.22 |
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Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, Rest of World (ROW), Indonesia, Vietnam, and Sri Lanka |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Market Segmentation by Form
9 Market Segmentation by Nature
10 Market Segmentation by Distribution Channel
11 Customer Landscape
12 Geographic Landscape
13 Drivers, Challenges, and Opportunity/Restraints
14 Competitive Landscape
15 Competitive Analysis
16 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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