Cinnamon is a spice which is acquired from the inner bark of tropical tree species from genus Cinnamomum. Cinnamon is available in two main varieties including Cinnamomum cassia and Cinnamomum zeylanicum. Cinnamomum cassia is a popular spice in North America which has a dark brown color and stronger taste and is most widely used for flavoring various food products. Cinnamon zeylanicum is also known Ceylon cinnamon or true cinnamon which appears in a lighter color along with having a sweeter and delicate flavor than cassia cinnamon. The most used cinnamon varieties are pale and parchment-like in appearance cinnamon species. Cinnamon is primarily used in various bakery products such as cakes, pancakes, and other baked goods along with milk and rice puddings. Cinnamon is also used in fruit desserts and chocolate dishes primarily in pears and apple fruit desserts. Cinnamon can also be used to spice creams, syrups and flavored wines. Cinnamon powder is also used for enhancing a variety of drinks, soups and sweets.
Global Cinnamon: Market Segmentation
The global cinnamon market is segmented on the basis of product type, application and region. The cinnamon market is segmented on the basis of product type such as Ceylon cinnamon, Saigon cinnamon, cassia cinnamon, and korintje cinnamon. In the product type, cassia cinnamon is widely used spice and is dominating the global cinnamon market as it is cheaper than others. The global cinnamon market is segmented on the basis of application in which cinnamon is used in application such as pharmaceuticals, cosmetics, food and beverage, and others. Cinnamon are widely used to flavor bread-based products, cereals and fruit desserts. Cinnamon are used as a spice for flavoring various savory dishes. Hence, the global cinnamon market is expected to significantly increase the revenue contribution over the forecast period.
Global Cinnamon Market: Regional Outlook
Geographically, the global cinnamon industry can be divided by major regions which include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. Globally, among all regions, Asia Pacific has developed as the dominant region in global cinnamon market followed by Europe. Increasing demand for spices as a flavoring agent in various food products, has strengthened the growth of global cinnamon market and hence is projected to significantly expand the revenue contribution of the market over the forecast period.
Global Cinnamon Market: Growth Drivers
The global cinnamon market driving factors are increasing demand for cinnamon in various food products as a flavoring agent in various savory dishes and beverages worldwide. Increasing opportunities in bakery, pharmaceuticals, and cosmetics industries is also another factor in driving the cinnamon market. Manufacturers are focusing on providing healthier product offerings by using cinnamon in various products such as bakery products and confectionery. Cinnamon helps consumers in managing their blood sugar levels, which is another major factor for driving the cinnamon seed market worldwide. Cinnamon is also used in various cereals, and meals, coupled with increasing consumer demand for cinnamon, in ground format and whole quills, has also raised among UK food producers, wholesalers, bakers, and retailers. Hence, the global Cinnamon market is expected to observe robust growth over the forecast period.
Global Cinnamon Market: Key Players
Some of the key players identified across the value chain of the global cinnamon market include Pure Ceylon Cinnamon, Adam Group, Bio Foods (Pvt) Ltd., HDDES Group, SDS SPICES (PVT) LTD., Ceylon Spice Company, Elite Spice, First Spice Mixing Company, C.F. Sauer Company, EHL Ingredients, and Bart Ingredients. The companies are expected to expand their business by enhancing their product portfolio in global cinnamon market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global cinnamon market till 2025.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.