Cinnamon Bark Oil Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Cinnamon Bark Oil Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Cinnamon Bark Oil Market is Segmented By Type (Ceylon Cinnamon, Saigon Cinnamon, Cassia Cinnamon, Korintje Cinnamon, and Others), By Application (Aromatherapy, Food & Beverages, Pharmaceutical, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa). The report offers the value (in USD million) for the above-mentioned segments.
Cinnamon Bark Oil Market is Segmented By Type (Ceylon Cinnamon, Saigon Cinnamon, Cassia Cinnamon, Ko...
Cinnamon Bark Oil Market Size - Analysis
The cinnamon bark oil market size is expected to reach US$ 146.9 Mn by 2031 from US$ 119.6 Mn in 2024, at a CAGR of 3.6% during the forecast period.
Cinnamon bark oil is derived from the bark of cinnamon trees, primarily Cinnamomum verum (Ceylon cinnamon) or Cinnamomum cassia (Cassia cinnamon). It is known for its distinct warm and spicy fragrance, as well as its potential health benefits. The oil is extracted through a process called steam distillation, where the cinnamon bark is subjected to steam to release the essential oil. Due to its aromatic properties, cinnamon bark oil is used in the production of perfumes, candles, and various personal care items. Some believe that cinnamon bark oil possesses health benefits, including anti-inflammatory and antioxidant properties, making it a component in certain health and wellness products. Cinnamon bark oil is primarily produced in countries with suitable climates for cinnamon cultivation such as Sri Lanka, Indonesia, China, and Vietnam.
Varieties like Ceylon cinnamon (Cinnamomum verum) are often considered of higher quality and are associated with specific flavor profiles.
Cinnamon Bark Oil Market Drivers
Increasing Demand for Natural and Organic Products: Consumer preferences have shifted towards natural and organic products including those with natural flavorings and fragrances. Cinnamon bark oil, being a natural product, may experience increased demand in line with this trend.
Health and Wellness Trends: The perceived health benefits associated with cinnamon, such as its antioxidant and anti-inflammatory properties, have contributed to its popularity. The growing interest in health and wellness products may drive the demand for cinnamon bark oil.
Food and Beverage Industry Growth: The use of essential oils in aromatherapy and personal care products has been on the rise. Cinnamon bark oil's aromatic properties make it a desirable ingredient in the formulation of perfumes, candles, and various personal care items.
Global Awareness of Different Cinnamon Varieties: Consumers are becoming more aware of the different varieties of cinnamon, such as Ceylon cinnamon and Cassia cinnamon, each having its unique flavor profile. This awareness may influence consumer preferences and impact the demand for cinnamon bark oil from specific varieties.
Cinnamon Bark Oil Market Restraints
Weather Conditions and Crop Vulnerability: Cinnamon production is highly dependent on weather conditions, and factors such as droughts, excessive rainfall, or temperature fluctuations can impact crop yields. Unfavorable weather can lead to reduced supply and increased prices.
Disease Outbreaks: Cinnamon trees are susceptible to various diseases including fungal infections. Disease outbreaks can significantly affect cinnamon production, leading to lower yields and potentially lower-quality cinnamon bark oil.
Fluctuating Prices and Market Volatility: The prices of cinnamon bark oil can be volatile due to factors such as supply-demand imbalances, fluctuations in production, and geopolitical events. This volatility can pose challenges for both producers and consumers in planning and budgeting.
Environmental Sustainability Issues: Unsustainable farming practices or deforestation associated with cinnamon cultivation can raise environmental concerns. Producers may face pressure to adopt sustainable and eco-friendly practices, adding complexity and potential costs to their operations.
Cinnamon Bark Oil Market Opportunities
Growing Demand for Natural Products: The increasing consumer preference for natural and organic products presents an opportunity for cinnamon bark oil, given its natural origin. Companies can capitalize on this trend by promoting the natural and wholesome characteristics of cinnamon bark oil in various applications.
Health and Wellness Trends: The perceived health benefits associated with cinnamon, such as its antioxidant and anti-inflammatory properties, create opportunities for marketing cinnamon bark oil in health and wellness products. Producers can explore partnerships with companies producing supplements, health foods, and natural remedies.
Differentiation Based on Cinnamon Variety: Highlighting the unique flavor profiles of different cinnamon varieties, such as Ceylon cinnamon and Cassia cinnamon, provides an opportunity for producers to differentiate their products. Emphasizing the distinct qualities of each variety can cater to diverse consumer preferences. Educational campaigns that highlight the origins, extraction methods, and sustainable practices in cinnamon bark oil production can enhance consumer awareness and appreciation. Educated consumers may be more inclined to choose products with transparent and ethical sourcing.
Cinnamon Bark Oil Market Analyst Viewpoint
The global cinnamon bark oil market is expected to witness steady growth in the coming years. The major driver for the market is the increasing application of cinnamon bark oil in food flavoring industry. The medicinal properties of cinnamon bark oil are also fueling its demand in pharmaceutical and cosmetic industries. Asia Pacific dominates the global market currently due to large production of cinnamon in countries like Sri Lanka, India and China. Europe is forecasted to be the fastest growing market due to rising popularity of herbal cosmetic products. However, availability of alternatives can pose a threat to the demand and act as a restraint. Fluctuations in raw material prices depending on climatic conditions is another concern. Opportunities lie in increasing adoption in developed markets of North America and Europe. The growth in demand for natural ingredients-based products will boost sales. Expanding flavoring industry specifically in Asia is a favorable sign. Potential applications in aromatherapy is an avenue that can be further tapped. Certification and standardization will help build trust among consumers. Investment in technology and machinery can help reduce production costs. Focusing on exports to emerging nations of Latin America and Africa can help offset risks. Strategic collaboration with end-use sectors may aid market penetration.
Market Size in USD Mn
CAGR3.6%
Study Period
2024 - 2031
Base Year of Estimation
2023
CAGR
3.6%
Fastest Growing Market
Europe
Larget Market
North America
Market Concentration
High
Major Players
Living Essential Oils, Mountain Rose Herbs, Eden Botanicals, The Plant Guru, Mountain rose herbs and Among Others
*Disclaimer: Major players are listed in no particular order.
*Source: Coherent Market Insights
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Cinnamon Bark Oil Market Trends
Collaboration with Food and Beverage Industry: Collaborating with chefs, mixologists, and food innovators can lead to the development of new culinary and beverage creations, enhancing the use of cinnamon bark oil in various gastronomic experiences
Innovations in Product Formulations: Ongoing research and development may lead to innovative product formulations that incorporate cinnamon bark oil. Producers may explore novel applications in pharmaceuticals, nutraceuticals, and even in emerging sectors such as cannabis-infused products. Aromatherapy and personal care product segments are expected to expand further. Cinnamon bark oil, with its warm and spicy aroma, may find increased use in these industries for perfumes, candles, and skincare formulations.
E-commerce Dominance and Direct-to-Consumer Sales: The dominance of e-commerce platforms is likely to continue, providing producers with opportunities to reach consumers directly. Establishing an online presence and utilizing direct-to-consumer sales channels may become increasingly important. Advancements in technology and extraction methods may enhance the efficiency and quality of cinnamon bark oil production. Innovations in extraction techniques could lead to higher yields and improved preservation of the oil's natural compounds.
Cinnamon Bark Oil Market Regional Insights
North America: North America is a significant market for essential oils, including cinnamon bark oil, due to high consumer demand for natural and organic products across various sectors including food and beverage, personal care, aromatherapy, and health and wellness.
Europe: Europe region consumers are increasing their focus on health and wellness, which has elevated the interest in essential oils known for their therapeutic properties. There is also a rise in the use of essential oils in aromatherapy and as flavoring agents.
Asia Pacific: Asia Pacific is a key region in the global cinnamon bark oil market, notably due to the presence of major producing countries like Sri Lanka, Indonesia, China, and Vietnam, where the cinnamon tree, primarily Cinnamomum verum (Ceylon cinnamon) and Cinnamomum cassia (cassia cinnamon), is indigenous. The region is also significant as a consumer market due to its large population and growing economic status, coupled with an increasing awareness of the health benefits of natural products like cinnamon bark oil.
Living Essential Oils, Mountain Rose Herbs, Eden Botanicals, The Plant Guru, Mountain rose herbs, Plant therapy, Health Group Inc., Bulk Apothecary, Nature’s Alchemy, Aromatics International, Florinama.
Cinnamon Bark Oil Market Leaders
Living Essential Oils
Mountain Rose Herbs
Eden Botanicals
The Plant Guru
Mountain rose herbs
*Disclaimer: Major players are listed in no particular order.
Cinnamon Bark Oil Market - Competitive Rivalry
Cinnamon Bark Oil Market
Market Consolidated (Dominated by major players)
Market Fragmented (Highly competitive with lots of players.)
*Source: Coherent Market Insights
Recent Developments in Cinnamon Bark Oil Market
New product launches
In October 2023, the cinnamon bark oil industry was fueled by a myriad of factors including rapid technological advancements and the adoption of innovative solutions towards automation, Artificial Intelligence, machine learning, Industry 4.0, and Internet of Things.
In June 2021, an in vivo study was conducted for comparing the antimicrobial efficacy of a probiotic blend-incorporated and cinnamon bark oil-incorporated mucoadhesive patch against salivary streptococcus mutans in children aged 7 to 10 who are caries-active
Acquisition and partnerships
The global cinnamon oil market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031
In 2023, the market showcased growth at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Cinnamon Bark Oil Market Report - Table of Contents
Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
Market Purview
Report Description
Market Definition and Scope
Executive Summary
Cinnamon Bark Oil Market, By Type
Cinnamon Bark Oil Market, By Application
Cinnamon Bark Oil Market, By Region
Coherent Opportunity Map (COM)
Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Supportive Government Policies and Incentives
High Initial Costs
Grid Expansion and Modernization
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER’s Analysis
Merger and Acquisition Scenario
Cinnamon Bark Oil Market- Impact of Coronavirus (COVID-19) Pandemic
COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact
Cinnamon Bark Oil Market, By Type, 2019-2031, (US$ Mn)
Introduction
Market Share Analysis, 2024 and 2031 (%)
Y-o-Y Growth Analysis, 2020 - 2031
Segment Trends
Clylon Cinnamon
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Mn)
Saigon Cinnamon
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Mn)
Cassia Cinnamon
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Mn)
Koritnje Cinnamon
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Mn)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Mn)
Cinnamon Bark Oil Market, By Application, 2019-2031, (US$ Mn)
Introduction
Market Share Analysis, 2024 and 2031(%)
Y-o-Y Growth Analysis, 2019 - 2031
Segment Trends
Aromatherapy
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Mn)
Food & Beverages
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031,(US$ Mn)
Pharmaceutical
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Mn)
Others (Cosmetics & Personal Care, etc.)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Mn)
Cinnamon Bark Oil Market, By Region, 2019-2031, (US$ Mn)
Introduction
Market Share Analysis, By Region, 2024 and 2031(%)
Y-o-Y Growth Analysis, For Region 2019 - 2031
Country Trends
North America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Type, 2019-2031,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Region, 2019-2031,(US$ Mn)
U.S.
Canada
Europe
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Type, 2019-2031,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Region, 2019-2031,(US$ Mn)
Germany
U.K.
France
Italy
Russia
Spain
Rest of Europe
Asia Pacific
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Type, 2019-2031,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Region, 2019-2031,(US$ Mn)
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Latin America
Market Size and Forecast, and Y-o-Y Growth, By Type, 2019-2031,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Region, 2019-2031,(US$ Mn)
Brazil
Argentina
Mexico
Rest of Latin America
Middle East & Africa
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Type, 2019-2031,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2019-2031,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Region, 2018-2031,(US$ Mn)
GCC Countries
Israel
South Africa
Central Africa
North Africa
Rest of Middle East & Africa
Competitive Landscape
Young Living Essential Oils
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Mountain Rose Herbs
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Eden Botanicals
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
The Plant Guru
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Mountain rose herbs
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Plant therapy
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Now Health Group Inc.
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Bulk Apothecary
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Nature’s Alchemy
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Aromatics International
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Florinama
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Analyst Views
Section
Research Methodology
About us
*Browse 24 market data tables and 28 figures on “Cinnamon Bark Oil Market” - Global forecast to 2031
Cinnamon Bark Oil Market Segmentation
By Type
Ceylon Cinnamon
Saigon Cinnamon
Cassia Cinnamon
Korintje Cinnamon
Others
By Application
Aromatherapy
Food & Beverages
Pharmaceutical
Others (Cosmetics & Personal Care, etc.)
By Region
North America
Europe
Asia Pacific
Latin America
Middle East
Africa
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About author
Sakshi Suryawanshi is a Research Consultant with 6 years of extensive experience in market research and consulting. She is proficient in market estimation, competitive analysis, and patent analysis. Sakshi excels in identifying market trends and evaluating competitive landscapes to provide actionable insights that drive strategic decision-making. Her expertise helps businesses navigate complex market dynamics and achieve their objectives effectively.
Frequently Asked Questions :
What are the key factors hampering the growth of the cinnamon bark oil market?
The factors hampering the market growth are weather conditions and crop vulnerability, disease outbreaks, fluctuating prices and market volatility, environmental and sustainable challenges.
What are the major factors driving the cinnamon bark oil market growth?
Increasing demand in natural and organic products, health and wellness trends, and global awareness about different cinnamon varieties are the key factors driving the market growth.
Which is the leading component segment in the cinnamon bark oil Market?
The oil segment is the leading Form segment in the cinnamon bark oil Market.
Which are the major players operating in the cinnamon bark oil Market?
Young Living Essential Oils, doTERRA , Edens Garden, Mountain Rose Herbs, Plant Therapy, Now Foods, Aura Cacia, Nature's Alchemy, Aromatics International, Florihana
What will be the CAGR of the cinnamon bark oil Market?
The CAGR of the cinnamon bark oil market is expected to be 3.6% from 2024-2031.
Which region will lead the cinnamon bark oil Market?
North America is expected to lead the cinnamon bark oil market in terms of market share.
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