Cinnamon Bark Market Size, Trends and Growth Analysis by 2027

In 2019, the global cinnamon bark market was valued at approximately US$ 922.68 million and is anticipated to grow to around US$ 1,689.39 million by 2027, reflecting a compound annual growth rate (CAGR) of 8.0% from 2020 to 2027.

Cinnamon bark is primarily utilized for alleviating issues related to the gastrointestinal tract, including gas and diarrhea. It is also known to stimulate appetite and is effective in treating common colds, flu, menstrual discomfort, and infections caused by certain bacteria and parasitic worms. The bark possesses antioxidant, antifungal, and antibacterial properties, making it beneficial for combating acne and skin imperfections. Additionally, it enhances blood circulation to the skin and aids in the removal of dead skin cells. In the cosmetic industry, cinnamon bark can serve as a natural alternative to methylparaben, which is commonly used as an emulsifying agent in creams. Personal care products that incorporate cinnamon can help prevent product degradation due to exposure to bacteria typically found on human skin.

The cinnamon bark market is categorized by product type into Chinese cinnamon, Sri Lankan cinnamon, and other varieties. In 2019, the Chinese cinnamon segment dominated the market, holding the largest share. The increasing popularity of Chinese cinnamon as a flavoring agent in various culinary applications, including desserts, pastries, and meat dishes, has significantly contributed to its market growth. This variety is primarily cultivated in southern provinces of China, such as Guangdong, Guangxi, and Yunnan, and is recognized as one of the fifty essential herbs in traditional Chinese medicine. The rising incorporation of Chinese cinnamon in medicinal formulations has further boosted its sales in recent years.

Geographically, the cinnamon bark market is divided into North America, Europe, Asia-Pacific (APAC), South America (SAM), and the Middle East and Africa (MEA). In 2019, the Asia-Pacific region accounted for the largest market share, followed by North America and Europe. The growth in this region is largely due to the high levels of cinnamon bark production and consumption in countries like India, Vietnam, China, and Sri Lanka. The increasing demand for healthy and nutritious ingredients among health-conscious consumers is propelling the growth of the cinnamon bark market in the Asia-Pacific region. Moreover, there has been a notable increase in the demand for cinnamon bark in the pharmaceutical, cosmetics, and personal care sectors in major Asian nations such as Indonesia, China, and Sri Lanka over the past few years. The cinnamon bark produced in these Asian countries is often exported to developed regions, including North America, Europe, and South America.

The COVID-19 pandemic, which was first identified in Wuhan, China, in December 2019, has had a profound impact on global economies and industries. By October 2020, countries such as the US, Brazil, India, Russia, Spain, South Africa, Mexico, and the UK were among the hardest hit by the pandemic. The outbreak has led to significant disruptions across various sectors, including the food and beverage industry, due to lockdowns, travel restrictions, and business closures. These challenges have particularly affected the supply chain and operational capabilities of many companies.

Key players in the global cinnamon bark market include Biofoods Pvt. Ltd., Goya Foods, Inc., HDDES Group, The Bart Ingredients Company Ltd, EOAS Organics Pvt Ltd., The C.F. Sauer Company, First Spice Mixing Company, Inc., Cino Ceylon, Cassia Co-op, and Frontier Co-op.

The overall size of the global cinnamon bark market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry stakeholders and experts to validate the findings and gain deeper analytical insights. Participants in this research typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the cinnamon bark market.