Cinnamon Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Cinnamon Market is projected to expand from USD 1.01 billion in 2025 to USD 1.45 billion by 2031, registering a compound annual growth rate (CAGR) of 6.09%. This commercially vital spice, harvested from the inner bark of trees within the Cinnamomum genus, is supported fundamentally by its increasing utilization in the pharmaceutical and cosmetic industries due to its proven antioxidant and anti-inflammatory attributes. Furthermore, the food and beverage sector acts as a primary catalyst for growth, creating robust demand particularly within the bakery and confectionery segments, where cinnamon serves as a critical flavoring agent.

However, market expansion faces a substantial hurdle regarding the susceptibility of cultivation to climatic changes, which frequently leads to supply inconsistencies and price instability. These environmental variables disrupt supply chain management and can negatively impact the quality of raw materials intended for export. Data from the Vietnam Pepper and Spice Association indicates that in 2024, Vietnam's cinnamon exports totaled 99,874 tons with a turnover of USD 275 million, highlighting the significant volume of trade that depends on these environmentally sensitive agricultural systems.

Market Drivers

The expanding use of cinnamon in pharmaceutical and nutraceutical formulations is a significant driver of market momentum, particularly for varieties valued for their therapeutic properties. As consumers place greater emphasis on preventative healthcare, manufacturers are integrating cinnamon extracts into supplements designed to regulate blood sugar and treat inflammation. This trend toward functional health products has strengthened value-added trade, especially for premium grades offering specific medicinal benefits. According to a January 2025 report by the Sri Lanka Export Development Board, cumulative export earnings for cinnamon grew by 3.87% year-on-year in 2024, reflecting the increasing reliance on high-quality variants for their medicinal attributes rather than just for culinary purposes.

Concurrently, the robust expansion of the bakery and confectionery industries serves as a foundational pillar for volume demand, requiring consistent bulk supplies of cinnamon for industrial processing. The spice remains essential for the production of seasonal pastries, spiced breads, and confectioneries, ensuring sustained orders from major processing hubs. As reported by Vietnam Agriculture News in January 2025, India maintained its status as the largest consumption market, importing nearly 36,000 tons in 2024. Furthermore, consumption patterns are diversifying geographically; the Vietnam Pepper and Spice Association noted in January 2025 that exports to Bangladesh rose by 43% to 7,928 tons in 2024, demonstrating the broadening global appetite for this versatile ingredient across diverse ethnic cuisines.

Market Challenges

The vulnerability of cultivation to climatic fluctuations poses a formidable barrier to the sustained growth of the Global Cinnamon Market. Cinnamon trees are acutely sensitive to environmental patterns, where irregularities such as prolonged droughts, excessive rainfall, or unexpected storms can severely interrupt growth cycles and harvest schedules. This reliance on stable weather conditions results in significant unpredictability within the supply chain, causing erratic availability of raw materials essential for the food, pharmaceutical, and cosmetic industries. When supply becomes unreliable, international buyers face increased operational risks and are often compelled to absorb higher costs or seek alternative ingredients, thereby dampening overall market demand and eroding confidence in major sourcing regions.

The direct consequences of this volatility are reflected in recent trade performance data from key producing nations. For instance, the Sri Lanka Export Development Board reported a sharp 36.18% decline in cinnamon export earnings in May 2024 compared to the same month in the previous year. Such a precipitous drop underscores the severe supply inconsistencies that climatic factors can induce, resulting in varying trade volumes that prevent the market from maintaining a steady growth trajectory. This instability not only impacts immediate export revenue but also complicates inventory management for global importers, effectively stalling the market's long-term development.

Market Trends

The market is experiencing a decisive shift toward sustainable agricultural practices, marked by a significant increase in fair trade and certified organic sourcing. This trend is fueled by heightened consumer awareness regarding pesticide residues and a rising demand for clean-label ingredients in premium food and personal care products. In response, producers in key cultivation regions are aggressively converting conventional plantations into internationally accredited organic zones to secure higher export margins. As noted by the Vietnam Chamber of Commerce and Industry in July 2024, the Yen Bai province has established over 14,000 hectares of certified organic cinnamon, demonstrating rapid supply-side adaptation to this green market mandate.

Simultaneously, the proliferation of cinnamon-infused functional beverages is reshaping demand patterns, extending beyond traditional bakery uses to include ready-to-drink teas, coffees, and wellness shots. Beverage manufacturers are increasingly seeking high-grade Ceylon cinnamon for its delicate flavor profile and water solubility, which differs significantly from the coarser, pungent Cassia typically used in solid foods. This shift is stimulating rapid export growth from specialized regions capable of providing the fine quills required for extraction and steeping. According to the Sri Lanka Export Development Board's November 2024 report, export earnings surged by 39.92% in October compared to the previous year, highlighting intensified procurement activity aimed at stocking premium beverage and seasonal product lines.

Key Players Profiled in the Cinnamon Market

• HDDES Group
• Sauer Brands, Inc.
• Elite Spice, Inc.
• McCormick & Company, Incorporated
• Namo Organics
• Sarva Food Company
• Goya Foods, Inc.
• AVMK Enterprises
• Ceylon Spice Company
• Mehrotra Consumer Products Pvt. Ltd.

Report Scope

In this report, the Global Cinnamon Market has been segmented into the following categories:

Cinnamon Market, by Type:

• Ceylon
• Cassia
• Saigon
• Korintje
• Others

Cinnamon Market, by Application:

• Residential
• Commercial

Cinnamon Market, by Form:

• Powder
• Quills
• Others

Cinnamon Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Cinnamon Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

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