Global Market Study on Cinnamon: Rising Demand for Healthy and Flavorful Spices Augmenting Market Growth


Cinnamon  Market
  • Published On : Apr-2020 |
  • Pages : 320 Pages |
  • Format : Cinnamon  Market Cinnamon  Market Cinnamon  Market Cinnamon  Market

Consumers are increasingly seeking the combination of taste and nutrition in every food product, as the preference for healthy eating is rising, without compromising on the taste of food. This has further increased the demand for healthy food ingredients, including spices, which are the major ingredients that impart taste and flavor to food products.  Spices play a vital role in developing the taste and flavor in food products, and also contain numerous health beneficial properties. Due to this, the demand for healthy and flavorful spices such as cinnamon is growing. Cinnamon is known for its sweet taste that increases the flavor and taste profile of food products. Additionally, cinnamon also possesses health beneficial properties, such as antioxidants that fight against free radicals and prevent damage to cells. Moreover, cinnamon also helps manage blood sugar and cholesterol levels. All these factors are playing a major role in the growth of the global cinnamon market.

Increasing Use of Blended Spices Favoring Growth of Cinnamon Market

Blended spices are emerging as a new advantageous combination providing diverse flavor and taste to food products. Currently, food manufacturers are creating innovative blends by adding different spices. These blended spices are further utilized for seasoning and other purposes. Spices such as cinnamon, turmeric, black pepper, ginger, and chili are mostly used for blending due to their flavor profile. As consumers across the world are craving vibrant spices and taste profiles, spice manufacturers are formulating innovative solutions by offering blended spices. Furthermore, blended spices are also associated with numerous health benefits such as antioxidants and anti-inflammatory effects.

  • In September 2017, McCormick & Company launched twenty-four classic McCormick spices, herbs, and seasoning blends. Main spices such as cinnamon, turmeric, garlic powder, and others are included in these blends.

‘Organic Cinnamon’ Benefitting Market Growth

The ‘go organic’ trend has influenced consumers to add more organic foods into their diets. This trend also impacts cinnamon growers. Additionally, food manufacturers are increasingly targeting health-conscious consumers, and are demanding organic cinnamon from their suppliers. This has further increased the cultivation and utilization of organic cinnamon. Organic cinnamon is grown under different circumstances, without the use of any pesticides.

  • For instance, in 2018, McCormick & Company launched new organic seasonings under its brand McCormick Gourmet. In these seasoning offerings, cinnamon is one of the major ingredients.

North America & Latin America Offering Growth Opportunities

North America and Latin America is projected to exhibit high growth in the global cinnamon market during the forecast period of 2020-2030. Growth witnessed in these regions is attributable to the rising consumption of cinnamon-based food products, such as cinnamon rolls, cinnamon whiskey, and others. Furthermore, Ceylon cinnamon is one of the most imported spices in Latin American countries such as Mexico, which is further creating a favorable market scenario for cinnamon in the region.

South Asia and East Asia are still dominating the global cinnamon market with the highest market value share, owing to the higher production and consumption rate of cinnamon in these regions. Countries such as Indonesia, Sri Lanka, and India have been consuming cinnamon from a long time. Cinnamon used in cooking and making tea is a major contributing factor for its higher consumption in South Asia. China is also one of the major producers of cinnamon, and also consumes a substantial amount of the spice.

Covid-19 Effect on Cinnamon Market

The unfortunate spread of COVID-19 disease is affecting the global economy, and every industry is currently facing unwanted consequences due to this global pandemic. The food and beverage industry is also strongly fighting against this frightful situation, and balancing supply and demand for substantial growth of the industry. However, some markets in the industry are still witnessing promising growth rates, such as the cinnamon market. Cinnamon, as a spice, is widely used across the world, and demand shouldn’t be affected much due to the Covid-19 pandemic. However, the market could face supply disruptions during the early part of the forecast period, as it is majorly produced and imported from South East Asia. As such, the COVID-19 pandemic would have a moderate effect on the global cinnamon market.

As the virus spreads and cases mount, and lockdowns increase, there are seemingly countless ways that the food industry will be tested and strained in the coming months and quarters. The seasonality of crop production and shelf-life of products will impact the supply cycle. Market demand will be fulfilled when supply chain services resume, which will facilitate sales from key production clusters to consumption clusters

Analysts’ Viewpoint

The global cinnamon market is witnessing substantial growth, with North America and Latin America projected to offer beneficial opportunities during the forecast period of 2020-2030. Increasing use of cinnamon in beverages, along with the foodservice industry, is a major factor projected to boost the growth of the global cinnamon market in the foreseeable future.

Leading market players such as McCormick & Company and Cinnatopia are focusing on business expansion and acquisitions to strengthen their position in the global cinnamon market. Increasing production capacity and improvement in quality are other strategies being adopted by key players to gain a competitive edge in the global cinnamon market.

Cinnamon Market: Scope of the Report

The latest market report by Persistence Market Research on the global cinnamon market evaluates the opportunities and current market scenario, providing insights and updates about the corresponding segments involved in the global cinnamon market for the forecast period of 2020-2030. The report provides a detailed assessment of key market dynamics and comprehensive information about the structure of the global cinnamon market. This market study contains exclusive insights into how the global cinnamon market is anticipated to grow during the forecast period of 2020-2030.

The primary objective of the global cinnamon market report is to provide insights regarding the opportunities in the market that are supporting the transformation of global businesses associated with cinnamon. It is very important to consider that, in an ever-wavering economy, we provide estimated (Y-o-Y) year-on-year growth rate in addition to the compound annual growth rate (CAGR) for overall forecasts, to enable readers to better understand the analysis and evaluation of the global cinnamon market, and to discover lucrative opportunities in the market.

This report also provides an estimate of the global cinnamon market size and corresponding revenue forecasts carried out in terms of absolute $ opportunity. It also offers actionable insights based on future trends in the cinnamon market. Furthermore, new and emerging players in the global cinnamon market can make use of the information presented in the study for effective business decisions, which will provide momentum to their businesses as well as the global cinnamon market.

The study is relevant for manufacturers, suppliers, distributors, and investors in the global cinnamon market. All stakeholders in the global cinnamon market, as well as industry experts, researchers, journalists, and business researchers can leverage the information and data represented in PMR’s report.

Key Segments of Global Cinnamon Market

PMR’s report on the global cinnamon market offers information divided into six segments - nature, form, type, end use, distribution channel, and region.

Nature

Form

Type

End Use

Distribution Channel

Region

  • Organic
  • Whole
  • Ceylon Cinnamon
  • Food Industry
    • Soups, Sauces, and Dressings
    • Snacks & Cereals
    • Bakery & Confectionery
    • Meat & Poultry
    • Others
  • Business to Business
    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Specialty Retail
    • Online Retail
  • North America
  • Conventional
  • Extract
    • Powder
    • Oil
  • Korintje Cinnamon
  • Beverage Industry
    • Alcoholic Beverages
    • Non-alcoholic Beverages
  • Business to Consumer
  • Latin America
   
  • Cassia Cinnamon
  • Foodservice Industry
 
  • Europe
  • Saigon Cinnamon
  • Personal Care & Cosmetics
  • South Asia
     
  • Household/Retail
 
  • East Asia
  • Food Industry
  • Oceania
  • Middle East & Africa

Key Questions Answered in PMR’s Global Cinnamon Market

  • Which region will hold the highest market share in the global cinnamon market during the forecast period?
  • Which region is experiencing the highest growth (CAGR)?
  • Which factors are impacting the global cinnamon market?
  • What are the global trends impacting the cinnamon market?
  • What strategies must emerging players adopt to capture opportunities in various regions in the cinnamon market?
  • What is the market structure of the global cinnamon market?

Global Cinnamon Market: Research Methodology

Persistence Market Research is committed to providing unbiased market research solutions to its clients. PMR follows a robust methodology for the deduction of data included in this report. A unique research methodology is utilized to conduct extensive research on the global cinnamon market and reach conclusions about the future growth factors of the cinnamon market. PMR’s research methodology comprises primary research methods coupled with secondary research methods, which ensure the accuracy and reliability of the conclusions in this report.

A demand-side approach is followed to estimate the sales of target products, followed by an in-depth supply-side assessment of value generated, key trends, and events over a predefined period. This methodology is based on standard market structures, methods, and definitions that are based on inputs from local sources in over seven regions - North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa, which PMR considers for segmenting the global market. Statistics, characteristics, and variances are collected at a regional level, aggregated at the same level, and then synthesized at a worldwide level to create global market measurements. Our main sources of research include:

  • Primary Research
  • Secondary Research
  • Trade Research

Companies covered in Cinnamon Market Report

  • McCormick & Company
  • Cinnatopia
  • G.P. de Silva & Sons International (Pvt) Ltd.
  • Ceylon Spice Company
  • Elite Spice
  • FutureCeuticals
  • Kahawatte Plantations PLC
  • High Plains Spice Company
  • Natural Spices of Grenada
  • Lemur International, Inc
  • New Lanka Cinnamon Pvt. Ltd
  • Great American Spice Co
  • Risun Bio-Tech Inc.
  • Monterey Bay Spice Company
  • The Organic Cinnamon 
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