Market Outlook: Cinnamon Extract
Cinnamon extract is a form of spice derived from cinnamon the species of the inner bark of Cinnamomum tree. In the global cinnamon market, the demand for cinnamon extract is primarily increasing as a flavoring additive, cuisines, savory dishes, beverages, and various other food products. In addition, the demand for cinnamon extract is also high among personal care products owing to its medicinal benefits. In the global cinnamon extract market, the majority of cinnamon is grown in Asia-Pacific countries such as Indonesia. China, India, Bangladesh, Vietnam, Myanmar, and Shri Lanka. Currently, the demand for cinnamon extract is high among North American and European countries owing to its health benefits and as a key flavoring agent in food and beverages. In the Western European market, the majority of demand for cinnamon extract accounts from Germany, France, U.K., Spain, and the Netherlands.
Increasing Demand for Cinnamon Extract among Personal Care and Cosmetic Industry Owing to Its Antibacterial, Antifungal, Antiviral, and Anti-Inflammatory Properties
Some of the key drivers influencing the demand for cinnamon extract among cosmetic, personal care products, and food and beverage industry in the global market is due to the presence of some active ingredients in the cinnamon extract. Active ingredients in cinnamon extract include antibacterial, antifungal, antiviral, anti-inflammatory, antispasmodic, and also some enhanced antioxidants. On the other side, in the food and beverage industry, a cinnamon extract is primarily used as a flavoring material or as a cooking spice and for the aromatic purpose. Apart from the use of the cinnamon extract in cosmetics, personal care products, and food and beverage industry, currently the demand for cinnamon extract is also increased owing to its medicinal properties. For instance, cinnamon extract helps to break-down fats in the digestive system, controls the level of blood sugar levels in diabetic patients, and also cinnamon extract helps to combat with diarrhea, microorganisms and other health disorders. In the global cinnamon extract market, one of the key factors prohibits the growth of cinnamon extract is its fluctuating prices owing to the production of cinnamon in only some limited countries of the world.
Global Cinnamon Extract Market: Segmentation
On the basis of nature, global cinnamon extract market has been segmented as –
On the basis of form, global cinnamon extract market has been segmented as –
On the basis of end use, global cinnamon extract market has been segmented as –
- Food & Beverage Industry
- Savory & Snacks
- Breakfast Cereals
- Bakery & Confectionery
- Alcoholic Drinks
- Shakes & Smoothies
- Cosmetics & Personal Care Industry
- Food Service Industry
On the basis of region, global cinnamon extract market has been segmented as –
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Global Cinnamon Extract Market: Key Players
Some of the key players operating in the business of cinnamon extract are Plamed Green Science Group, Natural Spices of Grenada, Ekowarehouse Ltd., G.P. de Silva & Sons International (Pvt) Ltd., JustIngredients, Vietnam Hanfimex Corporation, Lemur International, Inc., FutureCeuticals, Naturoca, Ceylon Spice Company, High Plains Spice Company, Tripper Nature, and others.
Opportunities for Market Participants in Global Cinnamon Extract Market
In the global cinnamon extract market, the demand for cinnamon extract is primarily increasing among Western European countries and Asia Pacific market owing to its high demand in the food and beverage industry. In Asia Pacific market, cinnamon extract manufacturers are targeting to sell their products, to food manufacturers, hotels, restaurants, cafes, and food and beverage manufacturers as a flavoring agent and aromatic ingredient. In addition, the demand for cinnamon extract is also increased among manufacturers of toothpaste, mouthwash, fragrances, and many other products. On the other side, in the European market, cinnamon extract market is high demand among bakery and confectionery, breakfast cereals, and alcoholic beverages, savories, and snacks manufacturers. In the global cinnamon extract market, its demand is also increasing due to its health medicinal benefits owing to its antiviral, anti-inflammatory, antibacterial, antifungal, and many other properties.
Brief Approach to Research
Our analysis will follow a modelling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the applications, types, forms and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data is collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
- An overview of the cinnamon extract market, including background and evolution
- Macroeconomic factors affecting the cinnamon extract market and its potential
- Market dynamics, such as drivers, challenges and trends in cinnamon extract market
- Detailed value chain analysis of the cinnamon extract market
- Cost structure of the products and segments covered in the study of cinnamon extract market
- In-depth pricing analysis, by key product segments, regions and by major market participants in cinnamon extract market
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario
- Analysis of the market structure, including a tier-wise categorization of key market participants in cinnamon extract market
- Competitive landscape of the market, including detailed profiles of the top players in cinnamon extract market
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.