Cinnamon is a medium-large tree of the Lauraceae family. Cinnamon bark is often used as a spice, cooking material and medicinal material. The wood can be used to make furniture. This species can also be used as a landscaping tree. Cinnamon is native to China and is also found in India, Laos, Vietnam and Indonesia. Warm and wet climate is fit for its growth, but too much rain will cause rotten leaves. Seedlings need to grow in shade and mature trees grow normally in more sunlight. Deep, loose texture, good drainage, permeability strong slightly acidic or acidic sandy loam or loam is preferred.
Cinnamon spice can be divided into Ceylon cinnamon and Cassia cinnamon. Cassia is an aromatic bark, similar to cinnamon, but differing in strength and quality, and it has a strong aroma and flavor. It is widely used as spices, especially in cookery as a condiment and flavoring material. Health benefits of cinnamon found in numerous studies that it regulates blood sugar, making it a great choice for diabetics and hypoglycemics alike. It reduces LDL cholesterol levels. LDL is also known as the harmful cholesterol. Reducing it may help reduce the risk of cardiovascular disease. In perfumery industry and in pharmaceutical industry Ceylon cinnamon is potential natural treatment for diabetes. It also has anti-inflammatory, antioxidants, and antimicrobial that supports the immune system. According to different origins, it can be further divided into Indonesian cinnamon, Chinese cinnamon and Saigon cinnamon. In terms of application, it is mainly applied in household and commercial use. Commercial use is mainly in the food and beverage industry, cosmetics industry, medicine and other industries. Household is mainly used as a flavoring agent for cooking or baking.
Cinnamon Industry under COVID-19
China was the largest revenue market with a market share of 35.02% in 2015 and 35.05% in 2020 with an increase of 0.03%. Indonesia ranked the second market with the market share of 28.42% in 2019. Also, the Vietnam and Sri Lanka markets for global cinnamon industry market are expected to be the market with the most promising growth rate. Global cinnamon industry concentrate rate is low. The top three companies are Rathna Ceylon Cinnamon, TRIPPER and SDS SPICES (PVT) LTD with the revenue market share of 3.31%, 2.78% and 2.37% in 2019.
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Cinnamon has been widely used as a spice all over the world, so even in the context of the new crown epidemic, demand will not be greatly affected. However, since the Asia-Pacific region is the main production and import market for cinnamon, and China, as the largest cinnamon market, is the first country to suffer from the new crown epidemic. Therefore, the cinnamon market may face supply chain disruption. After supply chain services are restored, the market demand will be met. In 2020, the global cinnamon industry market revenue was 587.8 M USD, a year-on-year decrease of 4.77%, and the production was 238.4 K Tons, a year-on-year decrease of 5.32%.
The Forecast of Global Cinnamon Industry
In the United States, Mexico, and the Netherlands, the adoption rate of cinnamon and related products has steadily increased. Condiments are used to season various breads and bread-based dishes, grains and fruits. Egg yolk is a common and popular Christmas drink in North America, flavored with cinnamon powder. Spices are also widely used in Turkish cuisine for the preparation of salty and sweet flavors. It is also used as a flavoring for certain alcoholic beverages, such as cinnamon brandy popular in some areas of Greece and cinnamonflavored whiskey in the United States. Due to its sweet and spicy taste, the use of this condiment in a variety of dishes has increased, which is a key factor driving the demand for products in this market segment. Cinnamon is one of the basic ingredients in several Mexican dishes, and with the increasing popularity of Mexican cuisine worldwide, the demand for this condiment is expected to increase during the forecast period. There is an increasing demand for cinnamon as a flavoring agent in various foods worldwide. Increasing opportunities in the bakery products, pharmaceutical and cosmetic industries are also another factor driving the development of the cinnamon market.
Cinnamon is a rich source of various minerals and nutrients, rich in antioxidants, has anti-inflammatory effects, and is known to have beneficial effects on diseases such as diabetes, Alzheimer disease and HIV-1. These benefits may stimulate product demand in the coming years. Cinnamon-based essential oil is one of the best natural remedies for various common diseases such as cough, cold and constipation. The oil also helps to stimulate blood circulation, relieve pain, reduce stress, fight infections, improve digestibility and act as a deworming effect. These factors are expected to expand the scope of cinnamon as a functional ingredient in various health food product formulations. Ceylon cinnamon is famous in the United States for its ultra-low coumarin content, because coumarin is a substance known to cause liver damage. According to a study published in the journal Gastroenterology in 2009, liver disease is the second leading cause of death among all digestive diseases in the United States. In addition, the American Liver Foundation pointed out that liver cancer kills 65 people every day. By 2035, nearly 40,000 liver cancer cases will be diagnosed in the country each year. These shocking statistics forced consumers to pay more attention to coumarin intake, which led to an increase in demand for Ceylon cinnamon. Consumers increasingly want to combine taste and nutrition in every kind of food, because people increasingly like healthy diets without compromising the taste of the food. This has further increased the demand for healthy food ingredients, including spices, which are the main ingredients that impart flavor to foods. Therefore, the demand for healthy and delicious spices (such as cinnamon) is growing. A systematic review of adverse events resulted from cinnamon use reported gastrointestinal disorders and allergic reactions as the most frequent reported side effects. The available data suggests that despite the safety of cinnamon use as a spice and/or flavoring agent, its use may be associated with significant adverse effects in medicinal uses with larger doses or longer duration of use. These side effects may adversely affect the development of the cinnamon market.
Customers are increasingly inclined to buy cinnamon products online, which is considered to be one of the important trends affecting market growth. Due to factors such as shopping convenience and competitive prices, some customers are increasingly turning to online shopping for cinnamon products. In addition, suppliers in the cinnamon industry provide customers with various cinnamon and related products which are mainly provided to consumers through company websites and other ecommerce platforms. The development of e-commerce is expected to have a positive impact on market growth. According to our research, the global cinnamon industry market has a total value of 527.7 M USD back in 2015, and increased to 587.8 M USD in 2020. We made a series of functional calculation and deduced the data of past 5 years with scientific model. Finally, we made the prediction that the value of global cinnamon industry market markets can be 707.8 M USD by 2025. The CAGR of global cinnamon industry market is 2.31% from 2019 to 2025.
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