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Cinnamon Market Size, Share & Trends Analysis Report By Application (Commercial, and Residential), By Product (Ceylon, Cassia, Saigon, Korintje, and Other Products), By Distribution Channel, By Regional Outlook and Forecast, 2024 - 2031

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    Report

  • 361 Pages
  • October 2024
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 6020416
The Global Cinnamon Market size is expected to reach $18.8 billion by 2031, rising at a market growth of 12.4% CAGR during the forecast period. In the year 2023, the market attained a volume of 230,854.2 tonnes, experiencing a growth of 9.5% (2020-2023).

Saigon cinnamon, known for its strong flavour and aromatic qualities, is particularly valued in culinary applications and as a health supplement. Its unique characteristics have made it popular among consumers and food manufacturers alike, contributing to its significant presence in the market.  Hence, in 2023, the Saigon segment held 12% revenue share in the market. In terms of volume, 49,861.1 tonnes of Saigon cinnamon is expected to be utilized by the year 2031. The growing interest in natural flavours and health benefits associated with cinnamon could further enhance the demand for Saigon cinnamon in the coming years, potentially impacting its market share positively.



As consumers move away from synthetic medications and processed foods, the demand for natural and herbal products, including cinnamon, is growing. The increasing preference for natural health solutions propels cinnamon sales in various forms, including powders, oils, and supplements. Platforms like Instagram and TikTok feature recipes and tips highlighting cinnamon's health advantages, inspiring consumers to try it in their diets. Additionally, the surge in home baking, particularly during events like the COVID-19 pandemic, has spotlighted cinnamon. Popular recipes for cinnamon rolls, spiced cakes, and baked goods have led to increased demand for cinnamon as a key ingredient. The availability of pre-mixed spice blends that include cinnamon encourages home cooks to use it more frequently. Hence, increasing consumer awareness and culinary trends and innovations in spice usage in home cooking propel the market's growth.

However, as consumer preferences shift toward healthier eating and natural products, the demand for cinnamon can fluctuate. Rapid changes in demand can create imbalances in the market, leading to either oversupply or scarcity. Cinnamon is often used more during specific seasons (e.g., holidays), resulting in seasonal spikes in demand. If producers cannot anticipate these trends, they may be unable to adjust supply, accordingly, causing price volatility. Thus, volatility in raw material prices impacting cinnamon production costs is hampering the market's growth.

Driving and Restraining Factors

Drivers
  • Increasing Consumer Awareness of Cinnamon's Health Benefits
  • Culinary Trends and Innovations in Spice Usage in Home Cooking
  • Expansion of the Food and Beverage Industry Worldwide
Restraints
  • Volatility in Raw Material Prices Impacting Cinnamon Production Costs
  • Potential Allergic Reactions and Sensitivities to Cinnamon Consumption
Opportunities
  • Expansion of E-Commerce Channels Worldwide
  • Increasing Investment in Agricultural Research
Challenges
  • Increasing Competition from Alternative Spices and Flavourings
  • Quality Differentiation and Consumer Education Challenges in Cinnamon

Product Outlook

Based on product, the market is divided into Ceylon, cassia, Saigon, korintje, and others. The cassia segment witnessed 30% revenue share in the market in 2023. In terms of volume, 228,305.0 tonnes of cassia cinnamon is expected to be utilized by the year 2031. Cassia cinnamon, known for its robust and spicy flavour, is more commonly used in various food products and spice blends due to its affordability and availability.



Application Outlook

On the basis of application, the market is segmented into residential and commercial. In 2023, the commercial segment attained 64% revenue share in the market. In terms of volume, 309,227.6 tonnes of cinnamon would be utilized in commercial by the year 2031. This segment encompasses businesses that utilize cinnamon as a flavouring agent, preservative, or health supplement in their products. The increasing demand for cinnamon-infused products, such as baked goods, beverages, and health supplements, has driven growth in the commercial sector.

Distribution Channel Outlook

By distribution channel, the market is divided into hypermarkets & supermarkets, convenience stores, specialty stores, online, and others. In 2023, the hypermarkets & supermarkets segment attained 40% revenue share in the market. In terms of volume, by the year 2031, 191,375.4 tonnes of cinnamon are expected to be sold through hypermarkets & supermarket. This segment leads the cinnamon market, accounting for a significant share of the revenue. Hypermarkets and supermarkets are large retail outlets that offer a wide variety of products, including spices like cinnamon.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region witnessed 42% revenue share in the market in 2023. In terms of volume, 146,779.1 tonnes of cinnamon is expected to be utilized by this region by the year 2031. This region is renowned for its rich tradition of using spices, including cinnamon, in culinary practices, which has contributed to the high demand for cinnamon products. Countries like Indonesia and Sri Lanka significantly produce various cinnamon types, particularly cassia and Ceylon. The growing population and rising disposable incomes in countries such as India and China have fuelled the demand for cinnamon as a spice and a health supplement.

List of Key Companies Profiled

  • Goya Foods, Inc.
  • McCormick & Company, Inc.
  • Sauer Brands Inc.
  • Frontier Cooperative
  • Ceylon Spice Company
  • Elite Spice Inc.
  • SDS Spices Pvt Ltd
  • Bart Ingredients (Fuchs GmbH & Co. KG)
  • HDDES Group

Market Report Segmentation

By Application (Volume, Tonnes, USD Billion, 2020-2031)
  • Commercial
  • Residential
By Product (Volume, Tonnes, USD Billion, 2020-2031)
  • Ceylon
  • Cassia
  • Saigon
  • Korintje
  • Other Products
By Distribution Channel (Volume, Tonnes, USD Billion, 2020-2031)
  • Hypermarkets & Supermarkets
  • Convenience Stores
  • Specialty Stores
  • Online
  • Other Distribution Channels
By Geography (Volume, Tonnes, USD Billion, 2020-2031)
  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Cinnamon Market, by Application
1.4.2 Global Cinnamon Market, by Product
1.4.3 Global Cinnamon Market, by Distribution Channel
1.4.4 Global Cinnamon Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis
Chapter 4. Global Cinnamon Market by Application
4.1 Global Commercial Market by Region
4.2 Global Residential Market by Region
Chapter 5. Global Cinnamon Market by Product
5.1 Global Ceylon Market by Region
5.2 Global Cassia Market by Region
5.3 Global Saigon Market by Region
5.4 Global Korintje Market by Region
5.5 Global Other Products Market by Region
Chapter 6. Global Cinnamon Market by Distribution Channel
6.1 Global Hypermarkets & Supermarkets Market by Region
6.2 Global Convenience Stores Market by Region
6.3 Global Specialty Stores Market by Region
6.4 Global Online Market by Region
6.5 Global Other Distribution Channels Market by Region
Chapter 7. Global Cinnamon Market by Region
7.1 North America Cinnamon Market
7.1.1 North America Cinnamon Market by Application
7.1.1.1 North America Commercial Market by Region
7.1.1.2 North America Residential Market by Region
7.1.2 North America Cinnamon Market by Product
7.1.2.1 North America Ceylon Market by Country
7.1.2.2 North America Cassia Market by Country
7.1.2.3 North America Saigon Market by Country
7.1.2.4 North America Korintje Market by Country
7.1.2.5 North America Other Products Market by Country
7.1.3 North America Cinnamon Market by Distribution Channel
7.1.3.1 North America Hypermarkets & Supermarkets Market by Country
7.1.3.2 North America Convenience Stores Market by Country
7.1.3.3 North America Specialty Stores Market by Country
7.1.3.4 North America Online Market by Country
7.1.3.5 North America Other Distribution Channels Market by Country
7.1.4 North America Cinnamon Market by Country
7.1.4.1 US Cinnamon Market
7.1.4.1.1 US Cinnamon Market by Application
7.1.4.1.2 US Cinnamon Market by Product
7.1.4.1.3 US Cinnamon Market by Distribution Channel
7.1.4.2 Canada Cinnamon Market
7.1.4.2.1 Canada Cinnamon Market by Application
7.1.4.2.2 Canada Cinnamon Market by Product
7.1.4.2.3 Canada Cinnamon Market by Distribution Channel
7.1.4.3 Mexico Cinnamon Market
7.1.4.3.1 Mexico Cinnamon Market by Application
7.1.4.3.2 Mexico Cinnamon Market by Product
7.1.4.3.3 Mexico Cinnamon Market by Distribution Channel
7.1.4.4 Rest of North America Cinnamon Market
7.1.4.4.1 Rest of North America Cinnamon Market by Application
7.1.4.4.2 Rest of North America Cinnamon Market by Product
7.1.4.4.3 Rest of North America Cinnamon Market by Distribution Channel
7.2 Europe Cinnamon Market
7.2.1 Europe Cinnamon Market by Application
7.2.1.1 Europe Commercial Market by Country
7.2.1.2 Europe Residential Market by Country
7.2.2 Europe Cinnamon Market by Product
7.2.2.1 Europe Ceylon Market by Country
7.2.2.2 Europe Cassia Market by Country
7.2.2.3 Europe Saigon Market by Country
7.2.2.4 Europe Korintje Market by Country
7.2.2.5 Europe Other Products Market by Country
7.2.3 Europe Cinnamon Market by Distribution Channel
7.2.3.1 Europe Hypermarkets & Supermarkets Market by Country
7.2.3.2 Europe Convenience Stores Market by Country
7.2.3.3 Europe Specialty Stores Market by Country
7.2.3.4 Europe Online Market by Country
7.2.3.5 Europe Other Distribution Channels Market by Country
7.2.4 Europe Cinnamon Market by Country
7.2.4.1 Germany Cinnamon Market
7.2.4.1.1 Germany Cinnamon Market by Application
7.2.4.1.2 Germany Cinnamon Market by Product
7.2.4.1.3 Germany Cinnamon Market by Distribution Channel
7.2.4.2 UK Cinnamon Market
7.2.4.2.1 UK Cinnamon Market by Application
7.2.4.2.2 UK Cinnamon Market by Product
7.2.4.2.3 UK Cinnamon Market by Distribution Channel
7.2.4.3 France Cinnamon Market
7.2.4.3.1 France Cinnamon Market by Application
7.2.4.3.2 France Cinnamon Market by Product
7.2.4.3.3 France Cinnamon Market by Distribution Channel
7.2.4.4 Russia Cinnamon Market
7.2.4.4.1 Russia Cinnamon Market by Application
7.2.4.4.2 Russia Cinnamon Market by Product
7.2.4.4.3 Russia Cinnamon Market by Distribution Channel
7.2.4.5 Spain Cinnamon Market
7.2.4.5.1 Spain Cinnamon Market by Application
7.2.4.5.2 Spain Cinnamon Market by Product
7.2.4.5.3 Spain Cinnamon Market by Distribution Channel
7.2.4.6 Italy Cinnamon Market
7.2.4.6.1 Italy Cinnamon Market by Application
7.2.4.6.2 Italy Cinnamon Market by Product
7.2.4.6.3 Italy Cinnamon Market by Distribution Channel
7.2.4.7 Rest of Europe Cinnamon Market
7.2.4.7.1 Rest of Europe Cinnamon Market by Application
7.2.4.7.2 Rest of Europe Cinnamon Market by Product
7.2.4.7.3 Rest of Europe Cinnamon Market by Distribution Channel
7.3 Asia Pacific Cinnamon Market
7.3.1 Asia Pacific Cinnamon Market by Application
7.3.1.1 Asia Pacific Commercial Market by Country
7.3.1.2 Asia Pacific Residential Market by Country
7.3.2 Asia Pacific Cinnamon Market by Product
7.3.2.1 Asia Pacific Ceylon Market by Country
7.3.2.2 Asia Pacific Cassia Market by Country
7.3.2.3 Asia Pacific Saigon Market by Country
7.3.2.4 Asia Pacific Korintje Market by Country
7.3.2.5 Asia Pacific Other Products Market by Country
7.3.3 Asia Pacific Cinnamon Market by Distribution Channel
7.3.3.1 Asia Pacific Hypermarkets & Supermarkets Market by Country
7.3.3.2 Asia Pacific Convenience Stores Market by Country
7.3.3.3 Asia Pacific Specialty Stores Market by Country
7.3.3.4 Asia Pacific Online Market by Country
7.3.3.5 Asia Pacific Other Distribution Channels Market by Country
7.3.4 Asia Pacific Cinnamon Market by Country
7.3.4.1 China Cinnamon Market
7.3.4.1.1 China Cinnamon Market by Application
7.3.4.1.2 China Cinnamon Market by Product
7.3.4.1.3 China Cinnamon Market by Distribution Channel
7.3.4.2 Japan Cinnamon Market
7.3.4.2.1 Japan Cinnamon Market by Application
7.3.4.2.2 Japan Cinnamon Market by Product
7.3.4.2.3 Japan Cinnamon Market by Distribution Channel
7.3.4.3 India Cinnamon Market
7.3.4.3.1 India Cinnamon Market by Application
7.3.4.3.2 India Cinnamon Market by Product
7.3.4.3.3 India Cinnamon Market by Distribution Channel
7.3.4.4 South Korea Cinnamon Market
7.3.4.4.1 South Korea Cinnamon Market by Application
7.3.4.4.2 South Korea Cinnamon Market by Product
7.3.4.4.3 South Korea Cinnamon Market by Distribution Channel
7.3.4.5 Australia Cinnamon Market
7.3.4.5.1 Australia Cinnamon Market by Application
7.3.4.5.2 Australia Cinnamon Market by Product
7.3.4.5.3 Australia Cinnamon Market by Distribution Channel
7.3.4.6 Malaysia Cinnamon Market
7.3.4.6.1 Malaysia Cinnamon Market by Application
7.3.4.6.2 Malaysia Cinnamon Market by Product
7.3.4.6.3 Malaysia Cinnamon Market by Distribution Channel
7.3.4.7 Rest of Asia Pacific Cinnamon Market
7.3.4.7.1 Rest of Asia Pacific Cinnamon Market by Application
7.3.4.7.2 Rest of Asia Pacific Cinnamon Market by Product
7.3.4.7.3 Rest of Asia Pacific Cinnamon Market by Distribution Channel
7.4 LAMEA Cinnamon Market
7.4.1 LAMEA Cinnamon Market by Application
7.4.1.1 LAMEA Commercial Market by Country
7.4.1.2 LAMEA Residential Market by Country
7.4.2 LAMEA Cinnamon Market by Product
7.4.2.1 LAMEA Ceylon Market by Country
7.4.2.2 LAMEA Cassia Market by Country
7.4.2.3 LAMEA Saigon Market by Country
7.4.2.4 LAMEA Korintje Market by Country
7.4.2.5 LAMEA Other Products Market by Country
7.4.3 LAMEA Cinnamon Market by Distribution Channel
7.4.3.1 LAMEA Hypermarkets & Supermarkets Market by Country
7.4.3.2 LAMEA Convenience Stores Market by Country
7.4.3.3 LAMEA Specialty Stores Market by Country
7.4.3.4 LAMEA Online Market by Country
7.4.3.5 LAMEA Other Distribution Channels Market by Country
7.4.4 LAMEA Cinnamon Market by Country
7.4.4.1 Brazil Cinnamon Market
7.4.4.1.1 Brazil Cinnamon Market by Application
7.4.4.1.2 Brazil Cinnamon Market by Product
7.4.4.1.3 Brazil Cinnamon Market by Distribution Channel
7.4.4.2 Argentina Cinnamon Market
7.4.4.2.1 Argentina Cinnamon Market by Application
7.4.4.2.2 Argentina Cinnamon Market by Product
7.4.4.2.3 Argentina Cinnamon Market by Distribution Channel
7.4.4.3 UAE Cinnamon Market
7.4.4.3.1 UAE Cinnamon Market by Application
7.4.4.3.2 UAE Cinnamon Market by Product
7.4.4.3.3 UAE Cinnamon Market by Distribution Channel
7.4.4.4 Saudi Arabia Cinnamon Market
7.4.4.4.1 Saudi Arabia Cinnamon Market by Application
7.4.4.4.2 Saudi Arabia Cinnamon Market by Product
7.4.4.4.3 Saudi Arabia Cinnamon Market by Distribution Channel
7.4.4.5 South Africa Cinnamon Market
7.4.4.5.1 South Africa Cinnamon Market by Application
7.4.4.5.2 South Africa Cinnamon Market by Product
7.4.4.5.3 South Africa Cinnamon Market by Distribution Channel
7.4.4.6 Nigeria Cinnamon Market
7.4.4.6.1 Nigeria Cinnamon Market by Application
7.4.4.6.2 Nigeria Cinnamon Market by Product
7.4.4.6.3 Nigeria Cinnamon Market by Distribution Channel
7.4.4.7 Rest of LAMEA Cinnamon Market
7.4.4.7.1 Rest of LAMEA Cinnamon Market by Application
7.4.4.7.2 Rest of LAMEA Cinnamon Market by Product
7.4.4.7.3 Rest of LAMEA Cinnamon Market by Distribution Channel
Chapter 8. Company Profiles
8.1 Goya Foods, Inc.
8.1.1 Company Overview
8.2 McCormick & Company, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 SWOT Analysis
8.3 Sauer Brands Inc.
8.3.1 Company Overview
8.3.2 SWOT Analysis
8.4 Frontier Cooperative
8.4.1 Company Overview
8.4.2 SWOT Analysis
8.5 Ceylon Spice Company
8.5.1 Company Overview
8.6 Elite Spice Inc.
8.6.1 Company Overview
8.7 SDS Spices (Private) Limited
8.7.1 Company Overview
8.8 Bart Ingredients (Fuchs GmbH & Co. KG)
8.8.1 Company Overview
8.8.2 SWOT Analysis
8.9 HDDES Group
8.9.1 Company Overview
Chapter 9. Winning Imperatives of Cinnamon Market

Companies Mentioned

Some of the key companies profiled in this Cinnamon Market include:
  • Goya Foods, Inc.
  • McCormick & Company, Inc.
  • Sauer Brands Inc.
  • Frontier Cooperative
  • Ceylon Spice Company
  • Elite Spice Inc.
  • SDS Spices Pvt Ltd
  • Bart Ingredients (Fuchs GmbH & Co. KG)
  • HDDES Group

Methodology

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