Cinnamon Bark Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type (Chinese Cinnamon, Sri Lanka Cinnamon, and Others) and End Use (Spice and Others)
Publication Month: Oct 2020 | Report Code: TIPRE00012128 | No. of Pages: 131 | Category: Food and Beverages | Status: Published
The cinnamon bark market was valued at US$ 922.68 million in 2019 and is projected to reach US$ 1,689.39 million by 2027; it is expected to grow at a CAGR of 8.0% from 2020 to 2027.
Cinnamon bark is mainly used to treat upset gastrointestinal tract, gasses, and diarrhea. Cinnamon bark is used for stimulating appetite; it is also effective against common cold and flu, menstrual cramps, and infections caused by parasitic worms and certain bacteria. Cinnamon bark has antioxidants, antifungal, and antibacterial properties that help fight against acne and skin blemishes. It improves the blood flow back to the skin and removes dead skin cells. It can also be used as a replacement of methylparaben, an emulsifying agent, in the production of cosmetic creams. Personal care products that contain cinnamon can help restrict the degradation of the product when it is exposed to common bacteria present in human body.
In 2019, Asia Pacific was the largest Cinnamon bark market.The rapid growthofthe market in this region is mainly attributed to high cinnamon consumption and production acrossAsian countries. For instance, Sri Lanka, Indonesia, China, and India have been using cinnamon in different food and beverages, and medicinal recipes for a long time. Moreover, China is one of the major producers of cinnamon bark in the world.
The COVID-19 pandemic first reportedin Wuhan, China, in December 2019. As of October2020, the US, Brazil, India, Spain, Russia, South Africa, Mexico, and the UK are among the worst-affected countries by the pandemic. The COVID-19 outbreak is affecting economies and industries in various countries due to imposed lockdowns, travel bans, and business shutdowns. The food & beveragesindustry is one of the major industries facing serious disruptions in the form of office and factory shutdown,andsupply chain discontinuation.
Cinnamon Bark Market Breakdown—by Region, 2019
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Market Insights
Various Health Benefits Associated withCinnamon Bark
Cinnamon consists of various antioxidants such aspolyphenols that basically help protectthe body from oxidative damagecaused by free radicals. Inflammation is a very important aspect of the body as it helps cure infections and repair tissue damage; but inflammations become a problem when it is chronic, and it is directed toward the body tissues.Cinnamon helps in this case as it contains anti-inflammatory properties. Cinnamon also helps reduce risks related to heart diseases byreducing the levels of LDL cholesterol and triglycerides.Cinnamon bark is also used to treat varioushealth issuessuch as diarrhea and gastrointestinal (GI) upset. Itis also usedagainst the infections that have been caused by certain bacteria and parasitic worms, and also it is effective to treatcommon cold and flu-like influenza.Cinnamon is effective againstdiabetes as it helps lower the blood sugar level by several mechanisms. Cinnamon consists of cinnamaldehyde that helps fight against various infections. Therefore, the consumption of cinnamon barkproducts is rising among health-conscious consumers owing toits health benefits.
Product TypeInsights
On the basis of product type, the cinnamon barkmarket issegmented intoChinese cinnamon, Sri Lanka cinnamon, and others. The Chinese cinnamonsegment held the largest share of the market in 2019.The largest share of the Chinese cinnamon segment is attributed to a wide use ofcinnamon as a flavoring agent in the cooking of confectionery, desserts, pastries, and meat. Chinese cinnamon is produced primarily in China’s southern provinces of Guangdong, Guangxi, and Yunnan. It is considered as one of the fifty fundamental herbs in traditional Chinese medicine. Increasing use of Chinese cinnamon for medicinal purpose has bolsteredits sale over the past few years.
End UseInsights
On the basis of end use, the cinnamon barkmarket is bifurcatedinto spice and others. The spice segment led the cinnamon barkmarket with a largermarket share in 2019. With the rising preference for healthy diet, consumers in developed and developing countries are increasingly seeking the combination of nutrition and taste in food and beverages. Spices impart flavor and taste to any food and beverage preparation. With is sweet and hot combination of taste, cinnamon bark enhancesflavor and taste offoodstuff, and confers health benefits to the consumers. Additionally, cinnamon bark helps manage blood sugar and cholesterol levels.
Cinnamon Bark Market, byProduct Type– 2019and 2027
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Strategic Insights
Biofoods Pvt. Ltd.;Goya Foods, Inc.;HDDES Group;The Bart Ingredients Company Ltd;EOAS Organics Pvt Ltd.;The C.F. Sauer Company;First Spice Mixing Company, Inc.;Cino Ceylon;Cassia Co-op;and Frontier Co-op. are among thekey market players operating in the global cinnamon bark market.Companies undertake activities such as mergers and acquisitions to expand their business reach..They also focus on offering a diverse range of products to cater to various end-user industries.
Report Spotlights
- Progressive industry trends in the global cinnamon barkmarket to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the global cinnamon barkmarket from 2017 to 2027
- Estimation of the demand for cinnamon barkacross various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market and the demand for cinnamon bark
- Market trends and outlook,and factors driving and restraining the cinnamon bark market growth
- Understanding on strategies that underpin the global cinnamon barkmarket growth, which assists stakeholders in decision-making
- Cinnamon barkmarket size at various nodes of market
- Detailed overview and segmentation of the global market and industry dynamics
- Cinnamon barkmarket size in various regions with promising growth opportunities
Cinnamon Bark Market, byProduct Type
- Chinese Cinnamon
- Sri Lanka Cinnamon
- Others
Cinnamon BarkMarket, by End Use
- Spice
- Others
Company Profiles
- Biofoods Pvt. Ltd.
- Goya Foods, Inc.
- HDDES Group
- The Bart Ingredients Company Ltd
- EOAS Organics Pvt. Ltd.
- The C.F. Sauer Company
- First Spice Mixing Company, Inc.
- Cino Ceylon
- Cassia Co-op
- Frontier Co-op.
Frequently Asked Questions
The list of Companies - Global cinnamon bark market
- Biofoods Pvt Ltd.
- Goya Foods, Inc.
- HDDES Group
- The Bart Ingredients Company Ltd.
- EOAS Organics(Private) Limited
- The C.F. Sauer Company
- First Spice Mixing Company, Inc.
- Cino Ceylon
- Frontier Co-op.
- Cassia Co-op
- Highlights key business priorities to assist companies realign their business strategies.
- Features key findings and crucial progressive industry trends in the global Cinnamon Bark market, thereby allowing players to develop effective long-term strategies.
- Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
- Scrutinizes in-depth market trends as well askey market drivers and restraints.
- Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
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