Report Update: Apr 1, 2024

U.S. - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights

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Cinnamon Price in the United States - 2023

Cinnamon Price in the United States (CIF) - 2023

In July 2023, the average cinnamon import price amounted to $5,252 per ton, leveling off at the previous month. Overall, the import price saw a mild downturn. The growth pace was the most rapid in December 2022 an increase of 19% m-o-m. As a result, import price reached the peak level of $6,711 per ton. From January 2023 to July 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Sri Lanka ($10,997 per ton), while the price for Indonesia ($4,823 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Vietnam (-0.4%), while the prices for the other major suppliers experienced a decline.

Cinnamon Price in the United States (FOB) - 2023

The average cinnamon export price stood at $5,948 per ton in July 2023, dropping by -9.2% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in March 2023 when the average export price increased by 21% m-o-m. Over the period under review, the average export prices attained the maximum at $6,553 per ton in June 2023, and then fell in the following month.

Prices varied noticeably by the country of destination: the country with the highest price was Guatemala ($10,142 per ton), while the average price for exports to Barbados ($3,860 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cinnamon Imports in the United States

For the fourth year in a row, the United States recorded growth in overseas purchases of cinnamon (canella), which increased by 0.1% to 32K tons in 2022. The total import volume increased at an average annual rate of +4.0% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 8.2%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, cinnamon imports rose remarkably to $194M in 2022. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +14.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.7% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 18% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Import of Cinnamon in the United States (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	78.5	81.3	90.3	91.7	5.3%
Vietnam	23.6	34.4	50.1	54.5	32.2%
Sri Lanka	23.4	28.6	29.5	39.3	18.9%
India	2.5	2.2	2.9	3.7	14.0%
Others	1.5	3.3	4.1	4.8	47.4%
Total	130	150	177	194	14.3%

Top Suppliers of Cinnamon to the United States in 2022:

Indonesia (16.3K tons)
Vietnam (10.4K tons)
Sri Lanka (3.7K tons)
India (0.7K tons)

Cinnamon Exports in the United States

In 2022, approx. 3.4K tons of cinnamon (canella) were exported from the United States; with an increase of 18% on the year before. In general, total exports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +18.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.2% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 19%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, cinnamon exports rose sharply to $20M in 2022. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +17.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.6% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 21%. The exports peaked in 2022 and are expected to retain growth in years to come.

Export of Cinnamon in the United States (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Canada	7.1	8.2	10.8	11.6	17.8%
Mexico	3.1	3.8	3.2	4.2	10.7%
Saudi Arabia	0.1	0.1	0.1	0.5	71.0%
South Korea	0.4	0.4	0.5	0.5	7.7%
Vietnam	N/A	0.2	N/A	0.3	22.5%
Others	1.7	2.2	3.0	2.9	19.5%
Total	12.3	14.8	17.5	20.0	17.6%

Top Export Markets for Cinnamon from the United States in 2022:

Canada (2030.5 tons)
Mexico (724.2 tons)
Saudi Arabia (93.5 tons)
South Korea (91.5 tons)
Vietnam (71.4 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cinnamon market in the U.S.. 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:

United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the U.S.
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