The global cinnamon market 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 and Industry Analysis, By Type (Ceylon Cinnamon, Saigon Cinnamon, Cassia Cinnamon, Korintje Cinnamon, Others), By Form (Quills, Chips, Powder, Oil, Others), By Application (Essential Oils and Aroma Therapy, Beverages, Bakery, Other Processed Foods, Pharmaceutical, Cosmetics) and Regional Forecast, 2019-2026,” 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.
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.
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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.
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.
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 and Company, Inc.
- Sauer Brands, Inc.
- Elite Spice, Inc
- HDDES Group
- SDS Spices Pvt. Ltd.
- The Ceylon Spice Company Pvt. Ltd.
October 2017:Fuchs Group announced that it has completed the acquisition of UK based spices and herbs producer, The Bart Ingredients Co. Ltd. Fuchs is already an established manufacturer in this region and through this acquisition, it will look to establish a formidable stand in the market.
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