Asia: Cinnamon Market 2024

Cinnamon Market Size in Asia

The Asian cinnamon market expanded modestly to $X in 2022, surging by X% against the previous year. The total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Cinnamon Production in Asia

In value terms, cinnamon production shrank modestly to $X in 2022 estimated in export price. Overall, production, however, posted prominent growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were China (X tons), Indonesia (X tons) and Vietnam (X tons), together comprising X% of total production.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average cinnamon yield in Asia stood at X kg per ha, almost unchanged from the previous year's figure. Overall, the yield, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the yield reached the peak level of X kg per ha. From 2019 to 2022, the growth of the cinnamon yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of cinnamon (canella) were harvested in Asia; remaining constant against 2021 figures. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2021, and then reduced modestly in the following year.

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Cinnamon Exports

Exports in Asia

In 2022, the amount of cinnamon (canella) exported in Asia dropped slightly to X tons, remaining relatively unchanged against 2021 figures. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, cinnamon exports reduced slightly to $X in 2022. Over the period under review, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then contracted modestly in the following year.

Exports by Country

In 2022, China (X tons) and Vietnam (X tons) represented the key exporters of cinnamon (canella) in Asia, together reaching approx. X% of total exports. Indonesia (X tons) held the next position in the ranking, followed by Sri Lanka (X tons) and the United Arab Emirates (X tons). All these countries together held approx. X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Vietnam ($X) and Sri Lanka ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Indonesia and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, the United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price, however, continues to indicate a prominent increase. The growth pace was the most rapid in 2019 an increase of X%. The level of export peaked at $X per ton in 2021, and then reduced modestly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Cinnamon Imports

Imports in Asia

For the fourth consecutive year, Asia recorded growth in supplies from abroad of cinnamon (canella), which increased by X% to X tons in 2022. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2014 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, cinnamon imports shrank slightly to $X in 2022. Over the period under review, imports saw a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021, and then shrank slightly in the following year.

Imports by Country

India was the key importer of cinnamon (canella) in Asia, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Bangladesh (X tons) ranks second in terms of the total imports with a X% share, followed by Vietnam (X%), the United Arab Emirates (X%), Pakistan (X%) and Iran (X%). The following importers - Saudi Arabia (X tons), South Korea (X tons), Turkey (X tons), Indonesia (X tons), Japan (X tons), Iraq (X tons) and Malaysia (X tons) - together made up X% of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2022. At the same time, Iraq (X%), Vietnam (X%), Indonesia (X%), Pakistan (X%), Iran (X%), Turkey (X%), Bangladesh (X%), Malaysia (X%), the United Arab Emirates (X%), Japan (X%), South Korea (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. While the share of India (X p.p.), Vietnam (X p.p.), Pakistan (X p.p.) and Iraq (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (X p.p.), Bangladesh (X p.p.), Saudi Arabia (X p.p.) and the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported cinnamon (canella) in Asia, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports. It was followed by Bangladesh, with an X% share.

In India, cinnamon imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Bangladesh (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, dropping by X% against the previous year. In general, the import price, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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