Cinnamon Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Cinnamon Market is Segmented by Geography into North America, Europe, Asia-Pacific, South America, and Africa. The Study includes the Production (Volume), Consumption (Value and Volume), and Trade in terms of Import (Value and Volume), Export (Value and Volume), and Price Trend Analysis.

Market Snapshot

Cinnamon Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 2.2 %

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Market Overview

In terms of volume of production, the cinnamon market accounted for 0.24 million metric ton in 2019. It is expected to reach a volume of 0.25 million metric ton by 2026, witnessing a CAGR of 2.2% over the forecast period, 2021-2026.

COVID-19 measures affected cinnamon exports, especially in China and India. India closed its borders completely, making it impossible to export cinnamon. China, a major importer of Indian spices, including cinnamon, experienced a sharp decline in demand due to the coronavirus outbreak. This caused a disturbance in market performance. Due to lockdown restrictions, the exports and imports staggered across the globe. Though there is an increase in demand for cinnamon, due to restrictions, the market supply and demand are not able to correlate positively.

Indonesia is the world's leading producer of cinnamon, accounting for 40.0% of the overall global output, followed by China, Vietnam, and Sri Lanka. In recent years, there has been an increasing demand for spices, including cinnamon, globally due to the increasing adoption of cinnamon in the pharmaceutical and cosmetics industries.

Scope of the Report

Cinnamon is a spice procured from the bark of a tropical tree. As a culinary ingredient, it can be used both as a whole stick or as a powdered spice. The cinnamon market analysis includes the production (volume), consumption (value and volume), and trade in terms of import (value and volume), export (value and volume), and price trend analysis of cinnamon across the world. The market is segmented by geography into North America, Europe, Asia-Pacific, South America, and Africa.

Geography (Production Analysis, Consumption Analysis by Volume and Value, Import Market Analysis by Volume and Value, Export Market Analysis by Volume and Value, and Price Trend Analysis)
North America
United States
Mexico
Canada
Europe
Spain
France
United Kingdom
Russia
Asia-Pacific
SriLanka
China
India
Indonesia
United Arab Emirates
South America
Brazil
Argentina
Africa
South Africa
Madagascar
Comoros

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Key Market Trends

Sri Lanka Emerges as the Largest Exporter of Cinnamon in the World

Sri Lanka is the largest exporter and fourth-largest producer of cinnamon in the world. The main cinnamon-producing regions in Sri Lanka are Kandy, Matale, Belihull Oya, Haputale, the Horton planes, and the Sinharaja forest range. The major countries that import cinnamon from Sri Lanka are Mexico, the United States, Peru, Colombia, and Ecuador, among others. The demand for Ceylonese cinnamon is increasing in countries like Mexico, the United States, Peru, Bolivia, Chile, and Guatemala. Its cinnamon exports represent 3.3% of the world’s cinnamon exports, and it ranks 7th among the cinnamon exporters in the world. In 2019, the country exported 876.0 metric ton of cinnamon, with the United States and Germany being the top importers. Additionally, there has been a significant rise in the adoption of cinnamon in the pharmaceutical and cosmetics industries in recent years. This increase in market demand is encouraging cinnamon production in major producing countries like Sri Lanka.

Cinnamon Market Latest Trends

Asia-Pacific Leads the Cinnamon Market

Asia-Pacific is the world's leading producer of cinnamon, with Indonesia alone accounting for nearly 40.0% of the total global output. In 2019, Indonesia was the biggest cinnamon producer with a production of 89,657.0 metric ton. China, Vietnam, and Sri Lanka followed with about 77, 35, and 16 thousand metric ton of production, respectively. In recent years, there has been an increasing demand for spices, including cinnamon, globally. There has also been a significant rise in the adoption of cinnamon in the pharmaceutical and cosmetics industries in recent years. This increase in the market demand is boosting cinnamon production in major producing countries, such as Indonesia, China, and Sri Lanka. The major importers of cinnamon are the United States, Mexico, India, and the Netherlands.

Cinnamon Market Geography Trends

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Value Chain Analysis

      1. 4.4.1 Value Chain Overview

      2. 4.4.2 Price Markups in the Value Chain

      3. 4.4.3 Value Chain Stakeholders

  5. 5. MARKET SEGMENTATION

    1. 5.1 Geography (Production Analysis, Consumption Analysis by Volume and Value, Import Market Analysis by Volume and Value, Export Market Analysis by Volume and Value, and Price Trend Analysis)

      1. 5.1.1 North America

        1. 5.1.1.1 United States

        2. 5.1.1.2 Mexico

        3. 5.1.1.3 Canada

      2. 5.1.2 Europe

        1. 5.1.2.1 Spain

        2. 5.1.2.2 France

        3. 5.1.2.3 United Kingdom

        4. 5.1.2.4 Russia

      3. 5.1.3 Asia-Pacific

        1. 5.1.3.1 SriLanka

        2. 5.1.3.2 China

        3. 5.1.3.3 India

        4. 5.1.3.4 Indonesia

        5. 5.1.3.5 United Arab Emirates

      4. 5.1.4 South America

        1. 5.1.4.1 Brazil

        2. 5.1.4.2 Argentina

      5. 5.1.5 Africa

        1. 5.1.5.1 South Africa

        2. 5.1.5.2 Madagascar

        3. 5.1.5.3 Comoros

  6. 6. MARKET OPPORTUNITIES AND FUTURE TRENDS

  7. 7. AN ASSESSMENT OF THE IMPACT OF COVID-19 ON THE MARKET

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Frequently Asked Questions

The Global Cinnamon Market market is studied from 2016 - 2026.

The Global Cinnamon Market is growing at a CAGR of 2.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

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