World - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights
Cinnamon Market - Small Cinnamon Farms Support the Economies of Sri Lanka and Indonesia
Cinnamon is one of the most common spices today. It can be used in cooking, when added to salads, soups, or beverages (cinnamon flavored tea is very popular nowadays), or pharmaceutical industry. Besides, it is one of the most repeatedly used additives in Aurvedic and Chinese medicine, and production of perfumery products.
It may be hard to believe that cinnamon, now a staple spice in people's diet, used to be a coveted rarity. As far back as in the 15th century, it was the quest for cinnamon that drove the exploration of the world.
The cinnamon industry is very important for Sri Lanka as it provides revenue and employment to people. Most of the cinnamon farmlands are owned by small holder plantations. In Sri Lanka, there are around 250,000 cinnamon cultivators and 400,000 employees; the cinnamon industry is the main source of income for about 60,000 family units.
In Indonesia, meanwhile, the success of the industry partly owes to the efforts undertaken by the country to revive the spice industry. For instance, The Indonesian government strives to rehabilitate and enlarge existing spice fields with the ultimate aim of taking Indonesian spice exports to a new level, thus rekindling its well-deserved reputation of one of the key global spice exporters.
On the whole, Indonesia has a total of 17 million small farms producing a vast variety of food and non-food products (IFAD). Spices are predominantly produced by smallholders, who tend to sell them to village collectors. The latter accumulate larger volumes from different farms and then sell the product either to the domestic primary processing industry and/or spice exporters. At this stage, the drying often takes place, as small farmers cannot often provide adequate condition for performing the drying process well enough. Sometimes, smallholders may belong to cooperatives, working together with farmers to reach sufficient volumes for processing and exports. The role of large plantations is negligible in spice production in Indonesia, and many are owned by the government.
In 2014, India (21%), the U.S. (21%), the Netherlands (7%) and Mexico (5%) were the leading destinations of cinnamon imports, together making up 54% of global imports. The share of India increased significantly (+10 percentage points), while the share of Mexico illustrated negative dynamics (-1 percentage points). The shares of the other countries on the global cinnamon market remained relatively stable throughout the analyzed period.
In 2014, Indonesia and China were the main global suppliers of cinnamon with a combined share of 62% of global exports. However, the fastest growing suppliers from 2007 to 2014 were Madagascar (+8.6% per year) and Viet Nam (+7.7% per year). Viet Nam strengthened its position in the global import structure, from 12% in 2007 to 17% in 2014.
Indonesia dominated in global cinnamon production and trade. In 2014, Indonesia exported 59% of its total cinnamon output. Of this amount, 40% was supplied to the U.S., holding an 86% share of total U.S. consumption.
Do you want to know more about the global cinnamon market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- cinnamon market share
- cinnamon prices
- cinnamon industry
- cinnamon sales
- cinnamon market forecast
- cinnamon price forecast
- key cinnamon producers
Source: IndexBox AI Platform
This report provides an in-depth analysis of the global cinnamon market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
We can help you conduct market research and write a report using the most reliable data