Cinnamon Market

Global Cinnamon Market:

The global cinnamon market size reached US$ 1.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032. The increasing innovations in the food and beverage (F&B) industry are bolstering the market.

Cinnamon Market Analysis:

• Major Market Drivers: The rising focus of bakers on improving the taste and flavor profile of confectionary items is stimulating the market.
• Key Market Trends: The increasing demand for healthier alternatives to antibiotic growth promoters (AGPs) and extensive feed management strategies are bolstering the overall market.
• Competitive Landscape: Some of the prominent companies in the market include Bart Ingredients Company Ltd., Biofoods Pvt. Ltd., C.F. Sauer Company, Ceylon Spice Company, Elite Spice Inc., EOAS International, First Spice Mixing Company Inc., HDDES Group, McCormick & Company Inc., and Organic Spices Inc., among many others.
• Geographical Trends: The shifting preferences towards natural and organic products are propelling the market in Asia Pacific.
• Challenges and Opportunities: The inconsistent quality is hindering the market. However, the implementation of standardized cultivation techniques will continue to fuel the market in the coming years.

Cinnamon Market Trends:

Growing Home Cooking

As individuals are turning to baking at home, the demand for essential spices is escalating. They are continuing to experiment and explore their kitchens, which is propelling the market. Besides this, the increasing popularity of social media platforms and food blogs is elevating the cinnamon market statistics. For example, in July 2024, Blaze Pizza introduced a cinnamon-frosted bread made with fresh, hand-stretched dough.

Rising Product Offerings

Numerous companies are emphasizing on diversification to cater to the shifting preferences of consumers. Moreover, as per the cinnamon market overview, the rising functional foods are acting as significant growth-inducing factors. For example, in June 2024, Little Debbie, a snack brand of McKee Foods, released apple cinnamon donut sticks. It is ideal for afternoon snacks, on-the-go breakfasts, or alongside coffee and tea.

Increasing E-Commerce Industry

The growing preference for online shopping is propelling the market. Online retailers like Amazon, as well as specialized spice and health food websites, make it convenient for individuals. Besides this, the increasing adoption of digital marketing strategies, such as social media promotions, targeted advertisements, and influencer partnerships, is expected to fuel the market in the coming years.

Global Cinnamon Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with the cinnamon market forecast at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on the product, form, and sales channel.

Breakup by Product:

• Ceylon
• Cassia
• Saigon
• Korintje
   

Ceylon dominates the cinnamon market share

The report has provided a detailed breakup and analysis of the market based on the product. This includes ceylon, cassia, saigon, and korintje. According to the report, ceylon represented the largest market segmentation. 

Ceylon offers distinct flavor, superior quality, and several health benefits. Consequently, it is propelling the market. Frontier Co-op launched pure ceylon cinnamon powders that are organic.

Breakup by Form:

• Whole
• Extract
   

The report has provided a detailed breakup and analysis of the market based on the form. This includes whole and extract.

Whole cinnamon finds applications in baking, cooking, and beverages to enhance dishes. On the other hand, cinnamon extract offers concentrated flavor and ease of use. This is expanding the cinnamon market revenue.

Breakup by Sales Channel:

• B2B
• B2C
   

The report has provided a detailed breakup and analysis of the market based on the sales channel. This includes B2B and B2C.

In the B2B segment, the rising number of restaurants and pharmaceutical companies is stimulating the market. In the B2C segment, cinnamon is sold directly to consumers via e-commerce platforms and retail stores. This is escalating the cinnamon market demand.

Breakup by Region:

• North America 
  • United States 
  • Canada 
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others 
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Other 
• Latin America
  • Brazil
  • Mexico
  • Others 
• Middle East and Africa
   

Asia Pacific exhibits a clear dominance in the market

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.

The rising government support is contributing to the cinnamon market outlook in Asia Pacific. Moreover, the growing adoption of spices for medicinal purposes is also acting as another significant growth-inducing factor. According to the IMARC, the India spices market size reached INR 1,80,760 Crores in 2023. Looking forward, the market is expected to reach INR 4,70,339 Crores by 2032, thereby exhibiting a CAGR of 11% during 2024-2032.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major cinnamon market companies have also been provided. Some of the key players in the market include:

• Bart Ingredients Company Ltd.
• Biofoods Pvt. Ltd.
• C.F. Sauer Company
• Ceylon Spice Company
• Elite Spice Inc.
• EOAS International
• First Spice Mixing Company Inc.
• HDDES Group
• McCormick & Company Inc.
• Organic Spices Inc.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Cinnamon Market Recent Developments:

• July 2024: Blaze Pizza introduced a cinnamon-frosted bread made with fresh, hand-stretched dough.
• June 2024: Little Debbie, a snack brand of McKee Foods, released apple cinnamon donut sticks. It is ideal for afternoon snacks, on-the-go breakfasts, or alongside coffee and tea.
• April 2024: General Mills, Inc. launched a waffle-shaped cinnamon toast crunch (CTC), an innovative take on the classic cereal.

Cinnamon Market Report Scope:

Key Questions Answered in This Report

• How has the global cinnamon market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global cinnamon market?
• What is the impact of each driver, restraint, and opportunity on the global cinnamon market growth?
• What are the key regional markets?
• Which countries represent the most attractive cinnamon market?
• What is the breakup of the market based on the product type?
• What is the most attractive product type in the cinnamon market?
• What is the breakup of the market based on the form?
• What is the most attractive form type in the cinnamon market?
• What is the breakup of the market based on the sales channel?
• What is the most attractive form of sales channel in the cinnamon market?
• What is the competitive structure of the global cinnamon market?
• Who are the key players/competitors in the cinnamon market?

Key Benefits for Stakeholders:

• IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the cinnamon market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global cinnamon market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the cinnamon industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.