Cinnamon is a spice which is acquired from the inner bark oftropical tree species from genus Cinnamomum. Cinnamon is available in two mainvarieties including Cinnamomum cassia and Cinnamomum zeylanicum.Cinnamomum cassia is a popular spice in North America which has a dark browncolor and stronger taste and is most widely used for flavoring various food products.Cinnamon zeylanicum is also known Ceylon cinnamon or true cinnamon whichappears in a lighter color along with having a sweeter and delicate flavor thancassia cinnamon. The most used cinnamon varieties are pale and parchment-likein appearance cinnamon species. Cinnamon is primarily used in various bakeryproducts such as cakes, pancakes, and other baked goods along with milk andrice puddings. Cinnamon is also used in fruit desserts and chocolate dishesprimarily in pears and apple fruit desserts. Cinnamon can also be used to spicecreams, syrups and flavored wines. Cinnamon powder is also used for enhancing avariety of drinks, soups and sweets.
Global Cinnamon: Market Segmentation
The global cinnamon market is segmented on thebasis of product type, application and region. The cinnamon market is segmentedon the basis of product type such as Ceylon cinnamon, Saigon cinnamon, cassiacinnamon, and korintje cinnamon. In the product type, cassia cinnamon is widelyused spice and is dominating the global cinnamon market as it is cheaper thanothers. The global cinnamon market is segmented on the basis of application inwhich cinnamon is used in application such as pharmaceuticals, cosmetics, foodand beverage, and others. Cinnamon are widely used to flavor bread-basedproducts, cereals and fruit desserts. Cinnamon are used as a spice forflavoring various savory dishes. Hence, the global cinnamon market is expectedto significantly increase the revenue contribution over the forecastperiod.
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Global Cinnamon Market: Regional Outlook
Geographically, the global cinnamon industry can be divided bymajor regions which include North America, Latin America, Western Europe,Eastern Europe, Asia Pacific, Japan and Middle East and Africa. Globally, amongall regions, Asia Pacific has developed as the dominant region in globalcinnamon market followed by Europe. Increasing demand for spices as a flavoringagent in various food products, has strengthened the growth of global cinnamonmarket and hence is projected to significantly expand the revenue contributionof the market over the forecast period.
Global Cinnamon Market: GrowthDrivers
The global cinnamon market driving factors are increasing demandfor cinnamon in various food products as a flavoring agent in various savorydishes and beverages worldwide. Increasing opportunities in bakery,pharmaceuticals, and cosmetics industries is also another factor in driving thecinnamon market. Manufacturers are focusing on providing healthier productofferings by using cinnamon in various products such as bakery products andconfectionery. Cinnamon helps consumers in managing their blood sugar levels,which is another major factor for driving the cinnamon seed market worldwide.Cinnamon is also used in various cereals, and meals, coupled with increasingconsumer demand for cinnamon, in ground format and whole quills, has alsoraised among UK food producers, wholesalers, bakers, and retailers. Hence, theglobal Cinnamon market is expected to observe robust growth over the forecastperiod.
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Global Cinnamon Market: Key Players
Some of the key players identified across the value chain of theglobal cinnamon market include Pure Ceylon Cinnamon, Adam Group, Bio Foods(Pvt) Ltd., HDDES Group, SDS SPICES (PVT) LTD., Ceylon Spice Company, EliteSpice, First Spice Mixing Company, C.F. Sauer Company, EHL Ingredients, andBart Ingredients. The companies are expected to expand their business byenhancing their product portfolio in global cinnamon market. The companies areprojected to frame certain strategies in future in order to gain thecompetitive advantage in global cinnamon market till 2025.
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This study by TMR is all-encompassing framework of the dynamicsof the market. It mainly comprises critical assessment of consumers' orcustomers' journeys, current and emerging avenues, and strategic framework toenable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS thatoffers detailed visualization of four elements:
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The study strives to evaluate the current and future growthprospects, untapped avenues, factors shaping their revenue potential, anddemand and consumption patterns in the global market by breaking it intoregion-wise assessment.
The following regional segments are covered comprehensively:
· North America
· Asia Pacific
· Europe
· Latin America
· The Middle East andAfrica
