In terms of volume of production, the global cinnamon market was valued at 0.24 million metric ton in 2019. It is expected to reach a volume of 0.25 million metric ton by 2026, witnessing a CAGR of 2.2% over the forecast period.

COVID-19 measures affected Cinnamon exports, especially in China and India. India closed its borders completely and making it impossible to export the cinnamon. China, a major importer of Indian spices including cinnamon has experienced a sharp decline in demand due to the coronavirus outbreak.

Due to this, there is a disturbance in market performance. Due to lockdown restrictions, the exports and imports have staggered across the globe. Though there is an increase in demand for cinnamon, due to restrictions the market supply and demand are not able to correlate positively.

Indonesia is the world's leading producer of cinnamon, accounting for 40.0% of the overall global output. Indonesia is the world's leading producer of cinnamon, followed by China, Vietnam, and Sri Lanka. In recent years, there has been an increasing demand for spices, including cinnamon, globally due to the rise in the adoption of cinnamon in Pharmaceutical and Cosmetic industry.

Key Market Trends

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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, the 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 Ceylonese cinnamon is increasing in countries like Mexico, the United States, Peru, Bolivia, Chile, and Guatemala. Its cinnamon exports represent 3.3% of world cinnamon exports, and it ranks 7th among the cinnamon exporters in the globe. In 2019, the country exported 876.0 metric ton of Cinnamon to the world, United States and Germany being the top importers. Additionally, there is also a significant rise in the adoption of cinnamon in the pharmaceutical and cosmetic industry, in recent years. This increase in the market demand is encouraging the growth of cinnamon production in major producing countries like Srilanka.

Asia Pacific Leads the Global Cinnamon Market

Asia-Pacific is the world's leading producer of cinnamon, with Indonesia alone accounting for nearly 40.0% of the total global output. In 2019, Indonesia was the biggest cinnamon producer with a production of 89,657.0 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 boosting 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.

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