Cinnamon Market
Cinnamon Market By Nature (Organic Conventional), By Type (Ceylon Cinnamon, Korintje Cinnamon, Cassia Cinnamon, Saigon Cinnamon), By Form (Whole, Extract), By Distribution Channel (Business-to-Business, Business-to-Consumer), By Application (Residential, Commercial), and By Region - Global Market Report (2024 to 2034)
Analysis of Cinnamon Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Cinnamon Market Outlook (2024 to 2034)
The global cinnamon market is estimated to account for US$ 1.02 billion in 2024 and is forecasted to reach a valuation of US$ 1.89 billion by 2034-end. The market is forecasted to expand rapidly at 6.4% CAGR from 2024 to 2034.
Cinnamon consumption is expected to increase significantly in the coming years, primarily driven by the growing demand for healthy ingredients that also enhance the flavor of food. The rising globalization and growing popularity of diverse cuisines worldwide are also anticipated to play a significant role in driving the consumption of cinnamon.
Growing use of dry spices and herbs in different food products and increasing awareness regarding the benefits of cinnamon consumption are also set to expand the global cinnamon market. Increasing use of cinnamon extract in the formulation of cosmetics and personal care products is projected to open up lucrative opportunities for cinnamon suppliers through 2034.
- In March 2023, Starbucks, a leading chain of coffeehouses, announced the launch of a new cinnamon-based brew in all its stores. Cinnamon Caramel Cream Nitro Cold Brew comes with a topping of cinnamon sweet cream cold foam and has the flavor of caramel and cinnamon.
Demand growth for cinnamon is projected to be impeded by fluctuations in the supply chain and climate change over the coming years. Rain is essential to growing cinnamon in any part of the world, and variations in rainfall patterns due to climate change can inhibit cinnamon production in the future. The increasing availability of cinnamon alternatives is also projected to impede cinnamon market growth across the study period and beyond.
| Report Attributes | Details |
|---|---|
| Cinnamon Market Size (2024E) | US$ 1.02 Billion |
| Projected Market Value (2034F) | US$ 1.89 Billion |
| Global Market Growth Rate (2024 to 2034) | 6.4% CAGR |
| North America Market Value (2024E) | US$ 180.8 Million |
| East Asia Market Growth Rate (2024 to 2034) | 7% CAGR |
| Japan Share in East Asia Market (2034F) | 15.9% |
| United States Market Value (2024E) | US$ 133.4 Million |
| Key Companies Profiled |
|
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What’s Expected to Catapult Cinnamon Sales Going Forward?
“Demand for Clean Label and Organic Ingredients and Growing Focus on Preventive Healthcare”
The world has become increasingly aware of what they consume in light of the growing incidence of chronic diseases and the rising focus on preventive healthcare. People are now opting for products with ingredients that are completely organic and free from any synthetic materials or chemicals, which is projected to boost cinnamon demand as well. Demand for organic cinnamon is increasing on a global level, and this is providing new opportunities for cinnamon distributors.
- In September 2021, Himachal Pradesh became the first state in India to have an organized organic cinnamon plantation. The effort was made by the Council of Scientific and Industrial Research (CSIR) as they realized that most Indians were consuming substandard cinnamon.
Fact.MR, a market research and competitive intelligence provider, in this latest report, gives a detailed analysis of the cinnamon market with factors such as local supply, pricing trends, product standards, safety regulations, and new developments, affecting market growth.
Why is the South Asia & Oceania a Lucrative Market for Cinnamon Companies?
“Extensive Use of Cinnamon as Staple Spice in Regional Cuisines”
The South Asia and Oceania region is home to some of the most prominent countries that lead global cinnamon production. Sri Lanka, Indonesia, and Vietnam are the top countries in this region that provide cinnamon to the world and account for a significant amount of global cinnamon exports.
Countries in this region are also some of the most significant consumers of cinnamon, as it is a staple spice used in multiple cuisines, such as Indian, Indonesian, and Sri Lankan. Growing use of cinnamon in different industry verticals in this region is also projected to be a key cinnamon market trend to watch out for in South Asia & Oceania over the next 10 years.
Worsening economic conditions in Sri Lanka have significantly impacted the cinnamon farming industry in the country, and this is projected to have serious repercussions for international cinnamon demand and supply since Sri Lanka is a major player in the global cinnamon export business.
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Country -wise Insights
Apart from South Asia & Oceania, cinnamon providers can focus on countries such as Mexico, China, the United States, the United Kingdom, France, and Saudi Arabia to strengthen their stance in the global marketplace.
Which North American Country Should Cinnamon Suppliers Target?
“Market Benefitting from Increasing Preference for Ceylon Cinnamon in Mexico”
| Attribute | Mexico |
|---|---|
| Market Value (2024E) | US$ 15.7 Million |
| Growth Rate (2024 to 2034) | 8% CAGR |
| Projected Value (2034F) | US$ 33.8 Million |
Cinnamon is extensively utilized in Mexican cuisine, finding its way into nearly all dishes in some form or another. This substantial integration of cinnamon into Mexican culinary traditions presents lucrative prospects for cinnamon companies operating within the country. In Mexico, the preferred variety of cinnamon is Ceylon cinnamon, which is mainly imported from Sri Lanka, its country of origin. In Mexico, Ceylon cinnamon is alternatively referred to as true cinnamon or Mexican cinnamon.
Why Should Cinnamon Manufacturers Invest in China?
“High Demand for Traditional Medicine Containing Cinnamon”
| Attribute | China |
|---|---|
| Market Value (2024E) | US$ 205.8 Million |
| Growth Rate (2024 to 2034) | 6.8% CAGR |
| Projected Value (2034F) | US$ 397.7 Million |
China is a leading exporter of cinnamon, and this is what primarily makes it an attractive space for cinnamon producers. The cultural significance of cinnamon, high cinnamon use in culinary applications, and growing demand for traditional medicine are other key cinnamon market trends that could create opportunities in China through 2034. The robust growth of the food processing industry in China is also estimated to uplift the demand for seasonings and spices in the future, which could subsequently benefit cinnamon shipments as well.
Category-wise Insights
Cinnamon providers are focusing on providing Ceylon and Cassia cinnamon for commercial applications to maximize their sales and revenue generation potential on a global scale.
Which Type of Cinnamon Accounts for Higher Sales?
“Ceylon and Cassia Cinnamon Collectively Leading Global Sales Due to Their Potent Flavor”
| Attribute | Ceylon Cinnamon & Cassia Cinnamon |
|---|---|
| Segment Value (2024E) | US$ 523 Million |
| Growth Rate (2024 to 2034) | 6.2% CAGR |
| Projected Value (2034F) | US$ 958 Million |
Ceylon cinnamon is extensively used by people all over the world owing to its superior taste as compared to other varieties of cinnamon. The low concentration of Coumarin, a compound associated with liver damage, in this cinnamon variety is what drives its popularity. This variety is especially being consumed at large in Mexico as it is used extensively in different Mexican food preparations. Ceylon cinnamon is native to Sri Lanka and the majority of it comes from the same.
Cassia cinnamon is also being extensively used across the world owing to its inexpensive nature as compared to other types of cinnamon. Cassia cinnamon is extensively utilized in several commercial applications owing to its cost-effective nature and potent flavor.
What is the Primary Application of Cinnamon?
“Widespread Use of Cinnamon in Commercial Food Preparation”
| Attribute | Commercial |
|---|---|
| Segment Value (2024E) | US$ 710 Million |
| Growth Rate (2024 to 2034) | 6.5% CAGR |
| Projected Value (2034F) | US$ 1.33 Billion |
Growing use of cinnamon in the formulation of different food products, beverages, pharmaceuticals, and dietary supplements is projected to uplift its demand for commercial applications in the future. Rising awareness regarding the benefits of cinnamon consumption among consumers and the growing incorporation of natural ingredients in different food products are also projected to favor cinnamon sales for commercial applications going forward.
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Competitive Landscape
Cinnamon suppliers are focusing on capitalizing on the growing popularity of cinnamon-flavored food products to improve their sales in the future.
- In April 2022, Krispy Kreme, a renowned American coffeehouse chain known for its doughnuts, announced that it had collaborated with Cinnamon Toast Crunch to create a new Cinnamon Milk Glazed doughnut collection. The collection was available at select Krispy Kreme stores in the United States for a limited period.
Key Segments of Cinnamon Market Research
-
By Type:
- Cassia Cinnamon
- Ceylon Cinnamon
- Saigon Cinnamon
- Korintje Cinnamon
-
By Application:
- Residential
- Commercial
-
By Nature:
- Organic
- Conventional
-
By Form:
- Whole
- Extract
- Powder
- Oil
-
By Distribution Channel:
- Business-to-Business
- Business-to-Consumer
-
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
How big is the cinnamon market in 2024?
The global cinnamon market is estimated to be valued at US$ 1.02 billion in 2024.
What is the projected sales value of cinnamon for 2034?
Worldwide sales of cinnamon are forecasted to reach US$ 1.89 billion by 2034-end.
At what rate is the global market foreseen to expand?
The market for cinnamon is projected to advance at 6.4% CAGR through 2034.
Where does the United States get most of its cinnamon from?
Most of the United States' cinnamon supply is imported from Indonesia.
Who is the leading producer of cinnamon?
Indonesia accounts for a sizeable amount of cinnamon production on a global level.
Who are the top cinnamon suppliers?
Cinnatopia, Monterey Bay Spice Company, The Organic Cinnamon, Ceylon Spice Company, Elite Spice, and McCormick & Company are leading cinnamon manufacturers.
Cinnamon Market
*Mail attachment includes 127 figures & 30 tables