The latest report by IMARC Group, titled “Cinnamon Market Report by Product (Ceylon, Cassia, Saigon, Korintje), Form (Whole, Extract), Sales Channel (B2B, B2C), and Region 2024-2032“, 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.
Cinnamon is a fragrant spice derived from the bark of trees belonging to the Cinnamomum genus. Renowned for its sweet, warm, and slightly spicy flavor, cinnamon is a popular culinary ingredient used worldwide. There are two primary types of cinnamon: Ceylon cinnamon (Cinnamomum verum) and Cassia cinnamon (Cinnamomum cassia), with Cassia being more common and widely available. It is known for its taste and its potential health benefits. It contains antioxidants and anti-inflammatory properties and may help regulate blood sugar levels and lower cholesterol. These attributes have made cinnamon a subject of interest in herbal and alternative medicine. In the culinary world, cinnamon is a versatile spice used in both sweet and savory dishes. It is a common ingredient in baked goods like cinnamon rolls, apple pies, and snickerdoodle cookies. At present, cinnamon finds extensive applications in hot beverages like coffee and cocoa and is used in a variety of savory dishes, including curries and stews across the globe.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/cinnamon-market/requestsample
Cinnamon Market Trends and Drivers:
The global cinnamon market is primarily driven by the escalating demand for cinnamon-based products, including supplements and functional foods, due to the growing consumer awareness of the health benefits associated with cinnamon, such as its potential to regulate blood sugar levels and its antioxidant properties. Apart from this, the shifting inclination of the food and beverage industry toward natural and organic ingredients has accelerated the adoption of cinnamon as a natural flavoring and spice in various products, thereby fostering market growth. Moreover, the heightened popularity of global cuisines, where cinnamon plays a crucial role in both sweet and savory dishes, is another major growth-inducing factor. Besides this, the rising use of spice in traditional medicine and alternative therapies has augmented its demand in the herbal and wellness sector. Furthermore, the increasing preference for exotic and aromatic flavors in the food and beverage industry and the elevating consumer interest in diverse cuisines are contributing to market growth.
Report Segmentation:
The report has segmented the market into the following categories:
Product Insights:
- Ceylon
- Cassia
- Saigon
- Korintje
Form Insights:
- Whole
- Extract
Sales Channel Insights:
- B2B
- B2C
Market 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, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 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
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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