Cinnamon Market - Global Forecast and Opportunity Assessment by Technavio

Technavio has published a new report on the global cinnamon market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--According to the latest market study released by Technavio, the global cinnamon market is expected to grow at a CAGR of more than 16% during the forecast period.

This research report titled ‘Global Cinnamon Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The global cinnamon market is expected to witness a steady growth during the forecast period. This is due to the growing consumption of cinnamon and rising awareness of the health benefits of cinnamon. Today, cinnamon is not only used all around the world as a valuable ingredient in many food items like bakery products, coffee, and tea but also as a flavoring agent in many Asian cuisines like curries. Apart from its usage as a direct food ingredient, related value-added products like cinnamon bark oil, cinnamon leaf oil, and cinnamon tablets are also used extensively.

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Technavio’s food and beverage research analysts categorize the global cinnamon market into the following segments by product. They are:

  • Ceylon cinnamon
  • Cassia cinnamon
  • Saigon cinnamon
  • Korintje cinnamon

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The top three revenue-generating product segments for the global cinnamon market are discussed below:

Ceylon cinnamon

Ceylon cinnamon, also known as true cinnamon, is native to Sri Lanka. It is obtained from the plant Cinnamomum zeylanicum, also known as Cinnamomum verum. Although Sri Lanka remains the largest producer of Ceylon cinnamon, on a commercial level, its cultivation is mostly done in Seychelles and Madagascar.

According to Atul Kumar, a lead food research analyst from Technavio, “Cassia cinnamon contains coumarin, a naturally occurring substance, which may cause liver damage in some people. However, there is just a negligible presence of coumarin in Ceylon cinnamon, resulting in its increased consumption especially in North America. Ceylon cinnamon is also suitable for use on a regular basis, owing to its several health benefits.”

Cassia cinnamon

Cinnamomum cassia, also known as Cinnamomum aromaticaum, has its origin in China. It is widely cultivated in China and other eastern and southern parts of Asia. Cassia is one of the most-used varieties of cinnamon due to its low price in comparison to the high-grade Ceylon cinnamon. Cassia has dark reddish-brown bark with grayish traits and is hard, unlike the true cinnamon which is fragile.

Even though Cassia cinnamon has some properties that can prove to be beneficial to one's health, it is advised to not consume excessive amounts of Cassia cinnamon on a regular basis. This is due to the presence of coumarin in Cassia cinnamon, which is a liver-damaging substance that might even lead to cancer.

Saigon cinnamon

Saigon cinnamon, popularly known as Vietnamese cinnamon, originated in Vietnam. The scientific name of the spice is Cinnamomum loureiroi. It has a few similar properties of Cassia cinnamon. It is widely used in cooking as it contains volatile oils that lend a unique flavor to the dish. It is also widely used in the perfume industry, due to its unique flavor.

“Saigon cinnamon is priced higher than Cassia cinnamon but lower than Ceylon cinnamon. Unlike Ceylon cinnamon, which is obtained only from the inner bark of the tree, Saigon cinnamon is obtained from both inner and outer bark,” explains Atul.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Adam Group
  • Bio Foods (PVT) LTD
  • First Spice Mixing Company
  • Goya Foods
  • HDDES GROUP

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global cinnamon market is growing at a CAGR of more than 16% until 2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com