Cinnamon oil Market Size, Share, Growth, and Industry Analysis, By Type (Cinnamon Leaf Oil and Cinnamon Bark Oil), By Application (Chemical, Cosmetic, Food & Beverage and Others), and Regional Forecast to 2032

CINNAMON OIL MARKET OVERVIEW

The global cinnamon oil market size was USD 117.1 million in 2023 and is projected to touch USD 155.4 million by 2032, exhibiting a CAGR of 3.6% during the forecast period.

The family of trees known as Cinnamomum, which is indigenous to South America, the Caribbean, and Southeast Asia, produces the spice known as cinnamon. In Europe and the United States, it's alternate only to black pepper in terms of popularity. The spice's traditional uses for treating sore throat, arthritis, and cough have all been greatly broadened as a result of in- depth disquisition in the area. In addition to being a rich source of antioxidants, anti-inflammatory mixes, and numerous minerals and nutrients, cinnamon has been shown to be effective in treating conditions like diabetes, Alzheimer's complaint, and HIV- 1. Over the approaching times, product demand is presumably going to increase due to these advantages.

The global cinnamon oil market is anticipated to witness significant growth in the forecast period due to its various operations and health benefits. Cinnamon oil is extensively used in the food and libation assiduity as a flavouring agent, especially in baked goods and goodies. It's also used in the product of cosmetics, scents, and aromatherapy products due to its affable aroma and remedial parcels.

GLOBAL CRISES IMPACTING CINNAMON OIL MARKETCOVID-19 IMPACT

Cinnamon oil Industry had a Negative Effect Due to Supply Chain Disruption during COVID-19 Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID- 19 restrictions had an effect on cinnamon exports, especially to China and India. India has fully closed its borders, making the import of cinnamon insolvable. China, a significant importer of Indian spices, particularly cinnamon, had a sharp decline in demand as a result of the COVID- 19 epidemic. As a result, the market's performance was hampered. Due to restrictions assessed by the check, exports and significances were spaced out around the globe. Despite an increase in demand for cinnamon, market restrictions help force and demand from lining up positively.

LATEST TREND

"Commercial Sector to Drive Market Growth"

Recent traits inside the cinnamon oil industry include commercial sectors, including pharmaceutical, cosmetic, food, and beverage industries. Its market member is projected to achieve the loftiest CAGR during the cast period, driven by its remedial parcels. Known for its antioxidant, anti-inflammatory, and antimicrobial benefits, cinnamon oil painting is extensively used in the product of medicines and health supplements. The growing consumer preference for natural constituents in heartiness and healthcare products is further fueling the demand for cinnamon oil painting in this diligence.

CINNAMON OIL MARKET SEGMENTATION

BY TYPE

Based on Type, the global market can be categorized into Cinnamon Leaf Oil and Cinnamon Bark Oil

• Cinnamon Leaf Oil: It is deduced from the leaves of the Cinnamomum tree, is valued for its antiseptic, anti-inflammatory, and sweet parcels, making it popular in aromatherapy, cosmetics, and culinary operations.
• Cinnamon Bark Oil: It is uprooted from the inner dinghy of the Cinnamomum tree, is prized for its warm, racy aroma and potent antimicrobial parcels, generally used in aromatherapy, scents, and culinary dishes.

BY APPLICATION

Based on application, the global market can be categorized into Chemical, Cosmetic, Food & Beverage and Others

• Chemical: It is used in chemical operations as a natural preservative, spicing agent, and antimicrobial agent. Its composites, similar as cinnamaldehyde, enhance product stability and give antioxidant parcels in phrasings.Cosmetic: It is extensively used in cosmetics for its soothing and anti-inflammatory parcels. It enhances skin health, provides a warm scent, and acts as a natural preservative in various phrasings.
• Food & Beverage: It is employed in food and potables as a flavour enhancer, furnishing a warm, racy aroma. It also possesses antimicrobial parcels, helping to save products and enhance their shelf life.
• Others: Cinnamon oil is applied in ménage products for its antiseptic and antifungal parcels. It's also used in aromatherapy for stress relief and in nonentity repellents due to its natural efficacy.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.  

DRIVING FACTORS

"increasing Cassia Cinnamon Oil to Dominate the Cinnamon Oil Market Growth"

A factor in the cinnamon oil market growth is the increasing cassia cinnamon oil. The Cassia market is anticipated to develop at the fastest rate during the forecast period. This variety comes from southern China, while several of its species are grown in southern and eastern Asia. Compared to Ceylon cinnamon, the product form is allowed to be of poorer quality and bring lower. As a result, it's the food that's utmost generally consumed worldwide. Due to its important flavour and numerous health benefits, cassia has been used in both traditional Chinese medicine and the culinary sector. Moment, this particular spice variety is used all over the world to relieve stomach and muscle spasms, heal illness and the common cold wave, stop nausea and vomiting, and manage gas and diarrhea.

"Increasing Cosmetics Sector to Expand the Market"

The increasing cosmetics sectors are another key aspect of the cinnamon oil market. Cinnamon oil extract is utilized as an essential oil in the cosmetics sector and can be found in many different types of personal care products. One of the greatest all-natural treatments for a number of illnesses, including constipation and the common cold and cough, is essential oil with a cinnamon oil basis. Additionally, the oil promotes blood circulation, eases pain, lowers tension, prevents infections, enhances digestion, and works as an insect repellent in addition to all of the above. These elements are anticipated to broaden the use of cinnamon as a functional component in the creation of different nutraceutical goods.

RESTRAINING FACTOR

"High Product cost"" to Potentially Impede Market Growth"

The high product cost poses a significant restraining factor for the growth of the Cinnamon oil market. The market is fiercely competitive. In order to extend their product options and solidify their position in the market, businesses have been turning to combinations and accessions. To fulfill the demand for ground and pulverized cinnamon from consumers, they're also concentrating on adding their product capacity and enforcing cutting- edge technology. These have been raising a commotion among product users, and they're being diverted to accommodate new options. The market for cinnamon oil is further constrained by its unstable prices, which are anticipated to rise further throughout the protuberance period.

OPPORTUNITY

"Increasing demand for natural and organic products to Create Opportunity for the Product in the Market"

The rising demand for natural and organic products, particularly essential oils, creates a significant opportunity for companies to broaden their client base and boost deals. As consumers come more health-conscious and environmentally apprehensive, they seek out high- quality, sustainable products. Businesses can subsidize on this trend by diversifying their immolations, fastening on translucency, and emphasizing the benefits of essential oils. By using marketing strategies that punctuate authenticity and sustainability, companies can effectively attract and retain a growing member of discerning customers.

CHALLENGE

"The Fluctuation in the price of Cinnamon Could Be a Potential Challenge for Consumers"

Fluctuations in cinnamon prices can significantly impact the profitability of companies that calculate on this spice. A substantial increase in price may force businesses to pass these costs onto consumers, potentially leading to dropped deals as customers may seek further affordable alternatives. This situation can produce a ripple effect, impacting force operation and overall pricing strategies. To alleviate pitfalls, companies should consider diversifying their force sources, exploring price- lock agreements, or developing innovative pricing strategies to maintain competitiveness in the market.

CINNAMON OIL MARKET REGIONAL INSIGHTS

• NORTH AMERICA 

The primary force behind market growth is a shift in consumer preference towards herbal and healthful products. Cinnamon is an important source of multitudinous vitamins and minerals, acts as an anti-inflammatory, is high in antioxidants, and is proven to help people lose weight. The spice has also demonstrated protective parcels against conditions like Alzheimer's, diabetes, and HIV- 1. The high frequency of these ails in the area is presumably going to increase demand for products.

• EUROPE

The cinnamon oil market in Europe is passing notable expansion, driven by adding consumer awareness of natural products and their health benefits. As demand for organic and essential oils rises, businesses are seizing openings to introduce innovative products. The popularity of aromatherapy, particular care, and functional food parts further energies this growth. Also, nonsupervisory support for natural constituents encourages market entry, situating Europe as a significant player in the global cinnamon oil assiduity.

• ASIA

The region dominates the cinnamon oil market share. The increasing population, rising disposable income, and growing awareness of cinnamon oil health benefits drive demand, particularly in Asia. Major consumers include China, India, and Indonesia, with Indonesia leading the market, holding about 38% share. China follows nearly, counting for roughly 33% of the market. This rising consumption trend presents significant openings for directors and distributors to expand their reach and cater to the health-conscious consumer base in these crucial regions.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Key enterprise players are shaping the cinnamon oil marketplace through strategic innovation and marketplace growth. These agencies are introducing superior milling strategies to beautify the fine and nutritional profile. They are also increasing their product traces to include specialized versions like organic and vertical farming, catering to various purchaser preferences. Additionally, they may be leveraging virtual systems for greater market reach and distribution performance. By making an investment in research and improvement, improving delivery chain managements, and exploring new regional markets, those players are riding a boom and setting traits within the cinnamon oil enterprise.

LIST OF TOP CINNAMON OIL COMPANIES

• Cassia Co-op (Netherlands)
• Guangxi Jinggui (China)
• Guangxi Pengbo (China)
• Rongxian Ruifeng (China)
• PT Mitra Ayu Adi Pratama (U.S.)
• Tung Lam (Vietnam)
• Dong Duong (Vietnam)
• Nature’s Agro Products Lanka (Sri Lanka)
• Guangxi Gengyuan (China)
• Agrideco Vietnam (Vietnam)

KEY INDUSTRIAL DEVELOPMENT

July 2024: PT Mitra Ayu Adi Pratama, headquarters in U.S., Introduced Coumarin in Cinnamon: A Flavorful Exploration of Aromatic Diversity. Coumarin is a natural compound found in cinnamon, adds a distinct, sweet aroma to this popular spice. While enhancing cinnamon's flavor profile, it also carries potential health risks when consumed in large amounts. This aromatic diversity makes cinnamon both a beloved culinary ingredient and a subject of safety considerations.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.