Cinnamon Market Size (2024 - 2029)

Cinnamon Market Analysis

The Cinnamon Market size is estimated at USD 1.68 billion in 2024, and is expected to reach USD 2.35 billion by 2029, growing at a CAGR of 7% during the forecast period (2024-2029).

• Cinnamon, derived from the bark of trees belonging to Cinnamomum, is globally recognized as a key flavoring agent across diverse cuisines. Consumers are increasingly looking for a combination of nutrition and taste in every food product, which is in line with the growing preference for good health without compromising the taste of food products. This further fuels the demand for good food ingredients, including spices like cinnamon, which are the major ingredients that impart flavor and taste to food products. Cinnamon is known for its sweet taste, which enhances the taste and flavor of food products.
• Additionally, cinnamon has been known to possess several beneficial properties that aid in the treatment and prevention of several medical conditions. As a result, it is applicable in different industries, including food and beverages, pharmaceuticals, and cosmetics. It possesses healthy properties, such as antioxidants that fight against free radicals and prevent damage to cells. The consumption of cinnamon is gaining significance as various studies have proved its capability to lower blood glucose levels in type-II diabetic patients. Pharmaceutical companies are focusing on developing cinnamon-based formulations as cinnamon has anti-bacterial, anti-fungal, anti-inflammatory, and anti-carcinogenic properties. Manufacturers are focusing on developing innovative products to cater to the growing demand for cinnamon worldwide.
• The demand for cinnamon is also increasing in the poultry industry. Rising consumer awareness of health and food safety concerns and increased bacterial resistance to synthetic antibiotics have led to a ban on the use of antibiotic growth promotors (AGPs) in the poultry industry. The poultry industry has been forced to seek safe alternatives to AGPs and develop sustainable feed management strategies to enhance the intestinal health and growth performance of poultry. In recent years, cinnamon has gained much attention as a natural product with several health benefits to poultry. The essential oils present in cinnamon carry anti-microbial, anti-inflammatory, antioxidant, hypocholesterolemic, and anti-fungal properties and the ability to stimulate digestive enzymes in the gut.

Cinnamon Industry Segmentation

Cinnamon is a spice procured from the bark of a tropical tree. As a culinary ingredient, it can be used both as a whole stick or as a powdered spice.

The cinnamon market is segmented by geography (North America, Europe, Asia-Pacific, South America, and Africa). The study includes the production (volume), consumption (value and volume), and trade in terms of import (value and volume), export (value and volume), and price trend analysis. The report offers market estimations and forecasts in value (USD) and volume (metric tons) for the abovementioned segments.