Republic of Korea - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingCinnamon Price in South Korea - 2022
Contents:
- Cinnamon Price in South Korea (CIF) - 2022
- Cinnamon Price in South Korea (FOB) - 2022
- Cinnamon Imports in South Korea
- Cinnamon Exports in South Korea
Cinnamon Price in South Korea (CIF) - 2022
The average cinnamon import price stood at $3,223 per ton in December 2022, with a decrease of -6% against the previous month. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2022 an increase of 22% month-to-month. Over the period under review, average import prices reached the maximum at $3,933 per ton in April 2022; however, from May 2022 to December 2022, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In December 2022, the country with the highest price was China ($3,989 per ton), while the price for Vietnam totaled $3,008 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+3.3%).
Cinnamon Price in South Korea (FOB) - 2022
In 2022, the average cinnamon export price amounted to $10,142 per ton, increasing by 30% against the previous year. In general, the export price posted a strong expansion. The pace of growth was the most pronounced in 2015 an increase of 137% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($11,955 per ton), while the average price for exports to Vietnam ($3,215 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.
Cinnamon Imports in South Korea
In 2022, supplies from abroad of cinnamon (canella) was finally on the rise to reach 2.8K tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, saw a relatively flat trend pattern.
In value terms, cinnamon imports skyrocketed to $9.8M in 2022. The total import value increased at an average annual rate of +4.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Cinnamon in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 7.2 | 7.2 | 6.9 | 8.2 | 4.4% |
| China | 0.5 | 0.7 | 0.5 | 0.9 | 21.6% |
| Others | 0.7 | 0.6 | 0.9 | 0.7 | 0.0% |
| Total | 8.5 | 8.5 | 8.3 | 9.8 | 4.9% |
Top Suppliers of Cinnamon to South Korea in 2022:
- Vietnam (2440.5 tons)
- China (292.4 tons)
Cinnamon Exports in South Korea
Cinnamon exports from South Korea dropped dramatically to 3.5 tons in 2022, declining by -75.1% compared with the previous year. Over the period under review, exports recorded a dramatic decrease. The pace of growth appeared the most rapid in 2021 with an increase of 4.6%.
In value terms, cinnamon exports dropped dramatically to $35K in 2022. Overall, exports saw a significant decline. The most prominent rate of growth was recorded in 2021 when exports increased by 41% against the previous year.
| Export of Cinnamon in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 123 | 19.0 | 35.4 | 23.4 | -42.5% |
| Australia | 0.1 | 0.1 | 1.1 | 4.3 | 250.3% |
| Russia | N/A | N/A | 3.6 | 4.0 | 11.1% |
| Canada | 0.9 | 2.2 | 0.5 | 1.0 | 3.6% |
| Japan | N/A | N/A | 5.1 | 1.0 | -80.4% |
| Vietnam | 17.3 | 53.8 | 23.8 | 0.8 | -64.1% |
| Others | 8.0 | 1.9 | 39.3 | 0.6 | -57.8% |
| Total | 149 | 77.0 | 109 | 35.2 | -38.2% |
Top Export Markets for Cinnamon from South Korea in 2022:
- United States (1961.0 kg)
- Russia (500.0 kg)
- Australia (438.0 kg)
- Vietnam (247.0 kg)
- Canada (141.0 kg)
- Japan (125.0 kg)
This report provides an in-depth analysis of the cinnamon market in Republic of Korea. 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:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- 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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- 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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- 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- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- 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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
1086
This report provides an in-depth analysis of the cinnamon market in Republic of Korea.
9259
This report provides an in-depth analysis of the global cinnamon market.
1086
This report provides an in-depth analysis of the cinnamon market in Republic of Korea.
9259
This report provides an in-depth analysis of the global cinnamon market.
1067
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2606
From 2007 to 2016, the global cinnamon market value fluctuated perceptibly. According to IndexBox estimates, a significant increase in 2008 (X% Y-o-Y) was followed by a slight drop in 2009 (X% Y-o-Y). Over the next two years, the market gradually in
9493
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
3836
In 2015, the countries with the highest levels of cinnamon production in 2015 were Indonesia (X thousand tons), China (X thousand tons), Vietnam (X thousand tons), together accounting for X% of total output.
4395
Cinnamon production reached X thousand tons in 2016, with a positive dynamic being recorded over the last few years, except for a slight decline in 2010.
2851
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
2233
Sri Lanka dominates in the global cinnamon trade. In 2014, Sri Lanka exported X thousand tons of сinnamon totaling X million USD, X% under the previous year. Its primary trading partner was Mexico, where it supplied X% of its total сinnamon expor
1067
The global cinnamon market revenue amounted to $1.1B in 2018, dropping by -9% against the previous year. This figure...
2606
From 2007 to 2016, the global cinnamon market value fluctuated perceptibly. According to IndexBox estimates, a significant increase in 2008 (X% Y-o-Y) was followed by a slight drop in 2009 (X% Y-o-Y). Over the next two years, the market gradually in
9493
Global cinnamon consumption amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
