Pune, India, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The global cinnamon market size will derive growth from the increasing demand for the product in several countries across the world. According to a report by Fortune Business Insights, titled “Cinnamon Market Size, Share & Industry Analysis, and Regional Forecast, 2023-2030,” the market will benefit from the increasing number of product launches by major companies across the world.
The report provides an in-depth analysis of the global cinnamon market. It highlights the latest product launches and labels major innovations in the market. In addition to this, it states the impact of these products on the growth of the market. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years. Forecast values have been provided for the market for the period of 2019-2026. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals.
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Some of the leading companies that are operating in the global cinnamon market are:
- Pure Ceylon Cinnamon
- Fuchs Group
- ACH Food Companies, Inc.
- Biofoods Pvt. Ltd.
- Mc Cormick & Company, Inc.
- Sauer Brands, Inc.
- Elite Spice, Inc
- HDDES Group
- SDS Spices Pvt. Ltd.
- The Ceylon Spice Company Pvt. Ltd.
Report Scope & Segmentation:
| Report Attribute | Details |
| Base Year | 2022 |
| Historical Year | 2019 – 2021 |
| Forecast Year | 2023 – 2030 |
| Segments Covered | By Product Type, By Form , By Distribution |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2020 to 2029 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
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Market Segmentation:
By Type
- Ceylon Cinnamon
- Saigon Cinnamon
- Cassia Cinnamon
- Korintje Cinnamon
- Others
By Form
- Quills
- Chips
- Powder
- Oil
- Others
Product Overview:
Cinnamon is a spice that is derived from the branch of a tree. It is used as a flavouring agent in several foods across numerous countries. The demand for cinnamon is rising constantly, accounting to the health benefits it offers, along with the flavors that it possesses. The substance helps reduce blood glucose and cholesterol levels. As cinnamon is an integral part of various cuisines in the Asian and the Middle East countries, as a result of which it has witnessed a huge demand in numerous countries across this region. Recent breakthrough concepts and theories supporting the benefits of cinnamon in treatment against diabetes will open up a huge potential for the companies operating in the global cinnamon market.
The global cinnamon market is witnessing significant growth, driven by the increasing popularity of natural and organic products, as well as the rising demand for cinnamon in the food and beverage, pharmaceutical, and cosmetic industries. The food and beverage industry is the largest consumer of cinnamon, followed by the pharmaceutical industry, where cinnamon is believed to have various health benefits. The cosmetic industry is also a significant consumer of cinnamon, as it is used in the production of soaps, lotions, and perfumes. The consumer segment of the cinnamon market is also growing rapidly, driven by the increasing awareness of its health benefits and its use in cooking and baking. The growth prospects for the cinnamon market are positive, as the demand for cinnamon is expected to continue to increase in the coming years.
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Major Market Drivers:
Increasing Cinnamon-infused Foods Will Provide Impetus to Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing use of cinnamon in several foods by major restaurants across the world will create several opportunities for market growth. IN September 2019, the Sri Lanka Export Development announced the launch of a new brand of spice. The company introduced ‘Ceylon Spice’, an initiative that was taken to produce, process, brand, and promote the original Sri Lankan spices. The report highlights a few of the major industry developments of recent times and gauges their impact on the global market.
Regional Analysis:
North America to Show Considerable Growth; Increasing Number of Product Launches by Major Companies to Aid Growth
The report analyzes the ongoing cinnamon market trends across five major regions; North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in North America is projected to emerge dominant in the coming years. The huge demand for cinnamon and cinnamon-integrated products will have a positive impact on the growth of the market in this region. Moreover, the advancements in ways to extract and harness cinnamon will contribute to the growing adoption of the substance across several food products. Besides North America, the market in Europe and Asia Pacific will exhibit a considerable CAGR driven by the growing demand for the product in several countries across this region.
The cinnamon market is highly competitive, with numerous players operating in the industry. However, the quality and authenticity of the cinnamon products being sold can vary widely, which has led to increased scrutiny by regulatory bodies and consumers alike. Despite these challenges, the global cinnamon market is expected to continue growing in the coming years, driven by rising consumer demand for natural and healthy food products.
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