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The global cinnamon market is anticipated to grow at a favorable rate from 2021 to 2031 (forecast period). Cinnamon contains various beneficial characteristics that help with the prevention and treatment of a variety of medical ailments. As a result, it is used in a variety of industries such as cosmetics, food & beverages, and pharmaceuticals. Cinnamon is high in minerals, nutrients, and antioxidants, serve as an anti-inflammatory, and has been shown to help with diseases such as HIV-1, diabetes, and Alzheimer's. Such advantages are projected to drive the global cinnamon market during the forecast period. Moreover, increasing customer knowledge of healthy foods and components is a major aspect anticipated to propel the global cinnamon market.
Leading players in the cinnamon market are Pure Ceylon Cinnamon, Elite Spice, Biofoods Pvt Ltd., McCormick & Company, Inc., Ceylon Spice Company, HDDES Group, First Spice Mixing Company, SPICES (PVT) LTD, EHL Ingredients, and C.F. Sauer Company.
The global cinnamon market is quite competitive. Companies have relied on mergers and acquisitions to boost their market position and expand their product offerings. In order to satisfy the demand for powdered and ground cinnamon, they are also extending their manufacturing capacity and implementing novel technologies.
The global cinnamon market is projected to grow due to the rising demand for cinnamon as a flavoring component in various savory foods and beverages around the world. Moreover, growing usage in the cosmetics, pharmaceutical, and bakery industries are expected to push the growth of the global cinnamon market. Cinnamon is being used in a variety of items, including bakery and confectionery, to provide better product alternatives. Cinnamon aids customers in controlling their blood sugar levels, which is another important aspect anticipated to drive the sales of cinnamon market. Cinnamon is also utilized in a variety of cereals and meals, and consumer demand for cinnamon, both ground and whole quills, has increased among bakers, food producers, retailers, and distributors. As a result, the worldwide cinnamon market is estimated to expand rapidly during the forecast period.
Diabetes and cardiovascular disease are the leading causes of death worldwide; cinnamon has historically been used as both a spice and a medication. Cinnamon has been shown in research to have anti-cardiovascular effects such as endothelial protection, lowering blood lipids, immune response regulation, anti-inflammatory, and antioxidative properties, and inhibition of angiogenesis.
Cinnamon can also help with diabetes by enhancing insulin secretion and sensitivity, restricting enzyme activity involved in glucose metabolism, controlling the liver's glucose metabolism, and improving diabetes complications. Such aspects are anticipated to bolster the growth of the global cinnamon market.
The cinnamon market in North America is projected to grow during the forecast period. The key reason expected to boost the regional market is a change in consumer demand for herbal and healthy products. Ceylon cinnamon is especially popular in the United States due to its extremely low levels of coumarin, a chemical known to result in liver damage. According to a study published in the journal Gastroenterology, liver illnesses are the second highest cause of death across all digestive diseases in the United States. Furthermore, according to the American Liver Foundation, liver cancer affects 65 American lives every day. These troubling figures have prompted consumers to be more mindful of coumarin consumption, resulting in increased demand for Ceylon cinnamon. Such aspects are likely to bolster the regional market growth.
Asia Pacific is expected to make significant contributions to the global cinnamon market during the forecast period.
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Cinnamon Market
