Global Cinnamon Market 2019-2023
About this market
Growing adoption of cinnamon products in Western countries to drive growth in the market. There has been a steady increase in the adoption of cinnamon and related products in Western countries such as the US, Mexico, and the Netherlands. Technavio’s analysts have predicted that the cinnamon market will register a CAGR of almost 12% by 2023.
Rising awareness about health benefits of cinnamon
Due to the growing concern about nutrition and healthy food habits, cinnamon has found increased application in the food and beverages sector.
Rising labor shortage for cinnamon market in Sri Lanka
The shortage of cinnamon peelers for the harvest and procurement of Ceylon cinnamon produced in Sri Lanka will adversely impact the country’s cinnamon produce in the coming years.
For the detailed list of factors that will drive and challenge the growth of the cinnamon market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Biofoods and EOAS Organics the competitive environment is quite intense. Factors such as the rising adoption of cinnamon products in Western countries and the rising awareness about health benefits of cinnamon, will provide considerable growth opportunities to cinnamon manufactures. Biofoods, EOAS Organics, Goya Foods, McCormick & Company, and Rathna Ceylon Cinnamon are some of the major companies covered in this report.
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