BURLINGAME, Calif., March 13, 2024 /PRNewswire/ -- CoherentMI published a report, titled, Cinnamon Bark Oil Market is estimated to value at US$ 119.6 Million in the year 2024 and is anticipated to reach US$ 146.9 Million by 2031, at a CAGR of 3.6% during forecast period 2024-2031.
Market Dynamics:
The Cinnamon Bark Oil Market is driven by the increasing demand for natural ingredients in various industries such as food and beverages, cosmetics, and pharmaceuticals. Cinnamon bark oil is known for its antimicrobial, antioxidant, and anti-inflammatory properties, which is driving its popularity among consumers. Additionally, the rising awareness about the health benefits of cinnamon bark oil, such as its ability to improve digestion and boost immunity, is further fueling market growth.
Cinnamon Bark Oil Market Snapshot:
Report Coverage | Details |
Study Period | 2024 - 2031 |
Base Year of Estimation | 2023 |
CAGR | 3.6 % |
Largest 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. |
Segments Covered | By Product Type, By Application, By Geography |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Growth Drivers | • Increasing Demand for Natural and Organic Products |
Restraints & Challenges | • Weather Conditions and Crop Vulnerability |
Key Market Takeaways:
- Cinnamon Bark Oil Market Size is anticipated to witness a CAGR of 3.6% during the forecast period 2024-2031, owing to the growing demand for natural and organic ingredients in various industries.
- On the basis of Type, the Ceylon Cinnamon segment is expected to hold a dominant position, owing to its superior quality and unique flavor profile compared to other types of cinnamon.
- On the basis of Application, the Aromatherapy segment is expected to dominate the market, as consumers increasingly turn to aromatherapy for its therapeutic benefits.
- In terms of region, North America is expected to hold a dominant position over the forecast period, due to the presence of key players and the high demand for natural ingredients in the region.
- Key players operating in the Cinnamon Bark Oil market include Living Essential Oils, Mountain Rose Herbs, Eden Botanicals, The Plant Guru, Plant Therapy, Health Group Inc., Bulk Apothecary, Nature's Alchemy, Aromatics International, and Florinama. These key players are focusing on expanding their product portfolios and catering to the growing demand for Cinnamon Bark Oil in various industries.
Market Trends:
One key trend in the Cinnamon Bark Oil Market is the growing popularity of organic and sustainable products. Consumers are increasingly opting for products that are ethically sourced and environmentally friendly, leading to the higher demand for organic cinnamon bark oil. Another trend is the expanding application of cinnamon bark oil in aromatherapy. The oil is widely used in aromatherapy for its relaxing and mood-enhancing properties, driving its adoption in the wellness sector.
Read complete market research report, "Cinnamon Bark Oil Market, By Product Type, By Application, By Geography, and other Segment Forecast 2024-2031", Published by CoherentMI.
Increasing Demand for Cinnamon Bark Oil in Aromatheraphy
The market for Cinnamon Bark Oil is experiencing a rise in demand for its use in aromatherapy. Aromatherapy is gaining popularity as a natural and holistic approach to health and wellness, leading to a higher demand for essential oils like Cinnamon Bark Oil. The therapeutic benefits of Cinnamon Bark Oil, such as its anti-inflammatory and antimicrobial properties, make it a popular choice for aromatherapy practitioners. As consumers seek natural alternatives to traditional medicines, the market for Cinnamon Bark Oil in aromatherapy is expected to grow significantly in the coming years.
Growing Usage of Cinnamon Bark Oil in Food & Beverages
Another market opportunity for Cinnamon Bark Oil lies in its use in the food and beverages industry. Cinnamon Bark Oil is widely used as a flavoring agent in various food and beverage products, including baked goods, confectionery, and beverages. The unique and warm flavor profile of Cinnamon Bark Oil makes it a popular choice for manufacturers looking to enhance the taste of their products. With the increasing demand for natural and organic food ingredients, the market for Cinnamon Bark Oil in food and beverages is expected to expand in the forecast period.
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
Get your copy of this premium research report now @ https://www.coherentmi.com/industry-reports/cinnamon-bark-oil-market/buyNow
Top Questions Answered in this Report:
1. What factors are impeding the growth of the Cinnamon Bark Oil Market?
2. What are the primary drivers fueling the growth of the Cinnamon Bark Oil Market?
3. Which segment dominates as the leading component in the Cinnamon Bark Oil Market?
4. Who are the key players actively participating in the Cinnamon Bark Oil Market?
5. Which region is expected to take the lead in the Cinnamon Bark Oil Market?
6. What is the projected CAGR of the Cinnamon Bark Oil Market?
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