The Latin America Cinnamon Market is predicted to reach USD 80 million in 2024 and USD 110 million by 2029, growing at a CAGR of 8.51% during the forecast period.
The market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rapid development in the food industry. Cinnamon is a popular spice obtained from the inside bark of several trees from the genus Cinnamon. It is a vital ingredient in many food items & beverages like bakery products, desserts, tea, and flavoring. Cinnamon also has fragrance and medical significance. It is an essential part of Ayurveda.The Latin America cinnamon market is mainly driven by factors like growing demand for cinnamon in different food items for flavor, rising scope in bakery, pharmaceuticals, and cosmetics sectors, and increasing awareness about the health benefits of cinnamon. However, cinnamon is still considered as a luxury ingredient and is thus costly, thus hampering the growth of market in the poor societal class.
The Latin America Cinnamon Market is predicted to show significant growth during the forecasting period.
Frequently Asked Questions
The two most commonly traded varieties are Ceylon cinnamon (Cinnamomum verum), known for its delicate flavor, and Cassia cinnamon (Cinnamomum cassia), which has a stronger, spicier profile.
The growing interest in natural and organic food products, along with the use of cinnamon in both traditional and modern cuisine, is driving demand. Additionally, cinnamon's increasing use in health and wellness products is contributing to market growth.
Cinnamon is widely used in the food and beverage industry, especially in baked goods, confectionery, beverages, and traditional dishes. It is also used in cosmetics and pharmaceuticals due to its antioxidant and anti-inflammatory properties.
Some of the major challenges include supply chain disruptions, price volatility due to climate conditions in major producing countries, and competition from synthetic flavor substitutes.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1600
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region