Top Facts You Didn’t Know About Cinnamon market & Impact of COVID-19Posted by Mrudula Anil Karmarkar on April 5th, 2022 The global cinnamon market size is anticipated to reach USD 1.9 billion by 2025, according to a new report by Grand View Research, Inc., registering a 13.8% CAGR during the forecast period. Growing awareness among consumers related to the health benefits of cinnamon is a key factor driving the market. Cinnamon is a rich source of various minerals and nutrients, is loaded with anti-oxidants, acts as an anti-inflammatory, and has been known to have beneficial effects against diseases like diabetes, Alzheimer’s, and HIV-1. These benefits are likely to spur product demand over the coming years. Based on product type, Ceylon dominated market in 2018, accounting for more than 35.0% of the global revenue in 2018. The segment is expected to retain its dominance throughout the forecast period. This variety is native to Sri Lanka, which produces a majority of the spice. It is also cultivated for commercial use in Madagascar and Seychelles. Mexico is one of the leading consumers of Ceylon in the world, where the spice is used in several local dishes. Its ultra-low Coumarin content makes it a preferred variant among consumers. Ceylon cinnamon has also been witnessing significant demand in European countries like U.K., Belgium, and Italy owing to its unique flavor as well as beneficial health properties. The global production and consumption volume of cinnamon is steadily increasing. North America dominated the global market, accounting for 35.5% of the overall revenue in 2018. Most of the product supply in the region comes from Sri Lanka and Indonesia. Europe is also projected to exhibit strong demand for Ceylon cinnamon, with U.K., Belgium, and Italy emerging as key markets. Growing awareness related to the health benefits of cinnamon has driven consumers to turn to this spice for weight loss and diabetes, which is fueling product demand in the region. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/cinnamon-market/request/rs1 Cinnamon has been known to possess several beneficial properties that aid in the prevention and treatment of a number of medical conditions. As a result, it finds application in a host of industries, including food and beverages, pharmaceuticals, and cosmetics. Growing consumer awareness regarding healthy foods and ingredients is a key factor driving the market. Cinnamon is a spice that is obtained from the branches of the Cinnamomum tree family, which is native to South America, the Caribbean, and Southeast Asia. It is the second most popular spice in Europe and the U.S., the first being black pepper. Traditionally used to treat cough, arthritis, and sore throat, the application scope of the spice has expanded significantly, thanks to in-depth research in the field. Further key findings from the report suggest:
Cinnamon is a rich source of various minerals and nutrients, is rich in anti-oxidants, acts as an anti-inflammatory, and has been known to have beneficial effects against diseases like diabetes, Alzheimer’s, and HIV-1. These benefits are likely to spur product demand over the coming years. The Cassia variant is used to alleviate stomach and muscle spasms, to treat infections and the common cold, to prevent nausea and vomiting, and to control gas and diarrhea.The market is highly competitive in nature. Top players operating in the market include Pure Ceylon Cinnamon, Biofoods Pvt Ltd., and Ceylon Spice Company. Some of the other prominent players are HDDES Group; C.F. Sauer Company; First Spice Mixing Company; Elite Spice; EHL Ingredients; McCormick & Company, Inc.; and SDS SPICES (PVT) LTD. companies have been leaning on mergers and acquisitions to strengthen their foothold in the market as well as to increase product offerings. They are also focusing on expanding their production capacity and are adopting innovative technologies to meet consumer demand for ground and powdered cinnamon. Grand View Research has segmented the global cinnamon market by product, application: Cinnamon Product Outlook (Revenue, USD Million, 2015 - 2025)
Cinnamon Application Outlook (Revenue, USD Million, 2015 - 2025)
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