June 21, 2024
Cinnamon Bark Oil Market

Cinnamon Bark Oil Market is poised to grow by 3.6% over the forecast period of 2024-2031

The Cinnamon Bark Oil Market is defined by the aromatic and therapeutic advantages offered by cinnamon oil extracted from the inner bark of cinnamon trees. Cinnamon bark oil contains active compounds like cinnamaldehyde, eugenol and terpenes that provide antimicrobial, anti-inflammatory, antioxidant and digestive benefits.

Global Cinnamon Bark Oil Market Size is estimated to be valued at US$ 119.6 Mn in 2024 and is expected to exhibit a CAGR of 3.6% over the forecast period of 2024-2031.

Key Takeaways

Key players operating in the Cinnamon Bark Oil Market are Living Essential Oils, Mountain Rose Herbs, Eden Botanicals, The Plant Guru, Mountain rose herbs and Among Others. Key players are investing in research and development to expand the application scope of cinnamon bark oil in industries like food and beverages, personal care and aromatherapy.

The growing demand for natural and plant-derived essential oils in cosmetics and personal care products is fueling the growth of the cinnamon bark oil market. Cinnamon bark oil is used as a popular flavoring agent in foods, beverages, sweets, and chewing gums due to its distinctive sweet and warm aroma.

The global expansion of major end-use industries along with rising awareness about the therapeutic properties of cinnamon bark oil is expected to drive the global cinnamon bark oil market during the forecast period. Emerging economies in Asia Pacific and Latin America are expected to promote demand growth due to rapid urbanization and changing lifestyle patterns.

Market Key Trends

One of the major cinnamon bark oil market trends is its increasing utilization in aromatherapy. Cinnamon bark oil blends well with other essential oils and is gaining popularity for use in massage oils and skin care products for its soothing and rejuvenating properties. The pleasant fragrance and mood enhancing effects of cinnamon bark oil also contribute to the increasing demand from households and spa centers. The growth ofonline retail channels has made cinnamon bark oil more accessible to consumers, thereby supporting the market trends.

Porter’s Analysis

Threat of new entrants: The Cinnamon Bark Oil industry has moderate barriers of entry due to high capital need for distillation. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternatives like cassia oil. Bargaining power of suppliers: Suppliers have high bargaining power due to lack of availability of cinnamon globally. Threat of new substitutes: Substitutes like cassia oil pose moderate threat due to similar aromatic properties. Competitive rivalry: The industry has high competition due to presence of numerous small and large players.

Geographical Regions

The cinnamon bark oil market in terms of value is mostly concentrated in North America and Europe. Majority of cinnamon oil is produced and consumed in these regions.

The Asia Pacific region is the fastest growing market for cinnamon bark oil. Countries like Sri Lanka, India and China are the major producers of cinnamon globally. Increasing awareness about therapeutic properties and health benefits of cinnamon oil is driving higher demand and market growth in Asia Pacific.

What Are The Key Data Covered In This Cinnamon Bark Oil Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Cinnamon Bark Oil Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the Cinnamon Bark Oil Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Cinnamon Bark Oil Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Cinnamon Bark Oil Market vendors

FAQ’S

Q.1 What are the main factors influencing the Cinnamon Bark Oil market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Cinnamon Bark Oil Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Cinnamon Bark Oil market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it