The global market for cinnamons was valued at 0.23 million metric ton, in terms of volume of production, in 2018, and it is expected to reach a volume of 0.25 million metric ton by 2024, witnessing a CAGR of 2.21% over the forecast period, 2019-2024. Indonesia is the world's leading producer of cinnamon, accounting for 40% of the total global output.
Scope of the Report
Cinnamon is a spice made from the bark of a tropical tree, which can be used as a powder or a stick. The report presents a wide-ranging analysis of the market size of the cinnamon market, globally. Production, consumption, import, and export analysis have been included for each country, under the study.
Key Market Trends
Sri Lanka Emerges as the Largest Exporter of Cinnamon in the World
Sri Lanka is the largest exporter and fourth-largest producer of cinnamon in the world. The main cinnamon producing regions in Sri Lanka are Kandy, Matale, Belihull Oya, Haputale, Horton planes, and the Sinharaja forest range. The major countries that import cinnamon from Sri Lanka are Mexico, the United States, Peru, Colombia, and Ecuador, among others. The demand for Ceylon cinnamon is increasing in countries, like Mexico, the United States, Peru, Bolivia, Chile, and Guatemala.
Asia Pacific Leads the Global Cinnamon Market
Asia-Pacific is the world's leading producer of cinnamon, with Indonesia alone accounting for nearly 40% of the total global output. In 2018, Indonesia was the biggest cinnamon producer with a production of 1,021 thousand metric ton. China, Vietnam, and Sri Lanka followed with about 77, 35, and 16 thousand metric ton of production, respectively. In recent years, there has been an increasing demand for spices, including cinnamon, globally.
Additionally, there is also a significant rise in adoption of cinnamon in the pharmaceutical and cosmetic industry, in recent years. This increase in the market demand trends is encouraging the growth of cinnamon production in major producing countries, such as Indonesia, China, and Sri Lanka. The major importers of cinnamon are the United States, Mexico, India, and the Netherlands.
Key Topics Covered:
1 INTRODUCTION 1.1 Study Deliverables 1.2 Study Assumptions 1.3 Scope of the Study