Report Update: Apr 1, 2024

Slovakia - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights

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Cinnamon Price in Slovakia - 2023

Cinnamon Price in Slovakia (CIF) - 2022

The average cinnamon import price stood at $5,614 per ton in 2022, remaining constant against the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cinnamon import price decreased by -5.1% against 2020 indices. The growth pace was the most rapid in 2020 when the average import price increased by 18% against the previous year. As a result, import price attained the peak level of $5,916 per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Romania ($32,718 per ton), while the price for Vietnam ($3,624 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+32.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Cinnamon Price in Slovakia (FOB) - 2022

In 2022, the average cinnamon export price amounted to $6,491 per ton, picking up by 7.9% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 16% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Romania ($8,933 per ton) and Hungary ($8,313 per ton), while the average price for exports to the Czech Republic ($6,083 per ton) and Poland ($6,673 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Cinnamon Imports in Slovakia

In 2022, cinnamon imports into Slovakia declined to 194 tons, reducing by -11.6% compared with 2021. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 62% against the previous year. As a result, imports attained the peak of 219 tons, and then declined in the following year.

In value terms, cinnamon imports declined to $1.1M in 2022. In general, total imports indicated a tangible increase from 2019 to 2022: its value increased at an average annual rate of +4.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +35.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 55%. As a result, imports reached the peak of $1.2M, and then contracted in the following year.

Import of Cinnamon in Slovakia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Vietnam	35.8	46.0	344	370	117.8%
Indonesia	525	393	443	333	-14.1%
Czech Republic	113	122	128	223	25.4%
Sri Lanka	20.3	29.3	53.1	59.4	43.0%
Netherlands	108	98.3	161	20.2	-42.8%
Poland	89.4	50.2	41.5	1.4	-75.0%
Others	59.7	64.2	70.9	81.7	11.0%
Total	951	803	1,242	1,089	4.6%

Top Suppliers of Cinnamon to Slovakia in 2022:

Vietnam (102.2 tons)
Indonesia (45.5 tons)
Czech Republic (29.0 tons)
Sri Lanka (7.4 tons)
Netherlands (3.3 tons)
Poland (0.3 tons)

Cinnamon Exports in Slovakia

In 2022, overseas shipments of cinnamon (canella) decreased by -11.7% to 45 tons, falling for the second year in a row after two years of growth. Over the period under review, exports showed a noticeable descent. The most prominent rate of growth was recorded in 2020 with an increase of 40% against the previous year. As a result, the exports attained the peak of 70 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cinnamon exports shrank to $292K in 2022. The total export value increased at an average annual rate of +6.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when exports increased by 51% against the previous year. As a result, the exports reached the peak of $364K. From 2021 to 2022, the growth of the exports failed to regain momentum.

Export of Cinnamon in Slovakia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Czech Republic	207	290	242	235	4.3%
Hungary	7.7	28.1	34.3	44.9	80.0%
Romania	13.0	13.9	6.2	4.0	-32.5%
Poland	10.2	30.9	20.4	1.8	-43.9%
Others	3.2	1.4	2.7	5.6	20.5%
Total	241	364	306	292	6.6%

Top Export Markets for Cinnamon from Slovakia in 2022:

Czech Republic (38.7 tons)
Hungary (5.4 tons)
Romania (0.4 tons)
Poland (0.3 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cinnamon market in Slovakia. 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 2030.

Product coverage:

FCL 693 - Cinnamon (canella)

Country coverage:

Slovakia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Slovakia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023