According to a new report published by UnivDatos Markets Insights, The Cinnamon Ground Market was valued at more than USD 585 million in 2020 and is expected to grow at a CAGR of around 4% from 2022-2028. The analysis has been segmented into Type (Ceylon Cinnamon, Cassia Cinnamon, Saigon Cinnamon, and Korintje Cinnamon); Application (Essential Oils & Aroma Therapy, Beverages, Bakery & Processed Foods, Pharmaceutical Cosmetics, and Others); and Region/Country.
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The cinnamon ground market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the cinnamon ground market. The cinnamon ground market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the cinnamon ground market at the global and regional levels.
Market Overview
Cinnamon is a spice that comes from the inner bark of the tropical Cinnamomum tree, sold as rolled quills or ground into a fine powder. Cinnamon contains antioxidants, which are a healthy component of the diet that help neutralize free radicals, preventing them from damaging cells in the body. As a result, it is used in various industries such as cosmetics, food & beverages, and pharmaceuticals. Moreover, the consumption of cinnamon is gaining importance as various studies have proved its capability in reducing fasting glucose levels in type II diabetic patients and is also helpful in Alzheimer’s disease. For instance, according to a report from the Alzheimer’s Disease Association, in 2022, neurodegenerative diseases affect millions of people worldwide. In the United States, as many as 6.2 million people may have Alzheimer’s disease. Pharmaceutical companies are focusing on developing cinnamon-based formulations as cinnamon has anti-inflammatory, anti-bacterial, anti-fungal, and anti-carcinogenic properties.
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Some of the major players operating in the market include EHL Ingredients, First Spice Mixing Company, ACH Food Companies Inc., Biofoods Pvt Ltd, McCormick & Company Inc., Sauer Brands, Elite Spice, HDDES Group, SDS Spices, Ceylon Spice Company
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global food and beverage industry is one of the major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak.
The global cinnamon ground market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- Based on type, the market is segmented into ceylon cinnamon, cassia cinnamon, saigon cinnamon, and korintje cinnamon. The ceylon cinnamon category is to witness higher CAGR during the forecast period owing to its antioxidant property which helps in preventing the risk of health conditions like cancer, heart disease, and diabetes. Ceylon cinnamon is also rich in the mineral manganese. This mineral helps the body to manage the enzymes that produce hormones and help repair bones.
- Based on application, the cinnamon ground market has been classified into essential oils & aroma therapy, beverages, bakery & processed foods, pharmaceutical cosmetics, and others. The essential oils & aroma therapy category is to witness significant growth during the forecast period. Cinnamon extract is used as an essential oil in the cosmetics sector, where it can be used in a variety of personal care products. One of the most effective natural treatments for a variety of medical conditions, including constipation and colds, and coughs, is an essential oil containing cinnamon.
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Cinnamon Ground Market Geographical Segmentation Includes:
- North America (United States, Canada, and the Rest of North America)
- Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
- Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
- Rest of the World
APAC is anticipated to grow at a considerable CAGR during the forecast period. This is mainly due to the growing demand for healthy and herbal products & high consumption of spices in the region. Further, the traditional use of spices in many Asian cuisines has been a major factor in the expansion of the cinnamon ground market in the region. Also, the growing population and urbanization, rising brand awareness, and expanding organized retail markets in developing nations are some major key factors for the growth of this market.
The major players targeting the market include
- EHL Ingredients
- First Spice Mixing Company
- ACH Food Companies Inc.
- Biofoods Pvt Ltd
- McCormick & Company Inc.
- Sauer Brands
- Elite Spice
- HDDES Group
- SDS Spices
- Ceylon Spice Company
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the cinnamon ground market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the cinnamon ground market?
- Which factors are influencing the cinnamon ground market over the forecast period?
- What are the global challenges, threats, and risks in the cinnamon ground market?
- Which factors are propelling and restraining the cinnamon ground market?
- What are the demanding global regions of the cinnamon ground market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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