Asia-Pacific: Cinnamon Market 2022

Cinnamon Market Size in Asia-Pacific

For the third year in a row, the Asia-Pacific cinnamon market recorded growth in sales value, which increased by X% to $X in 2021. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2018 indices. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Cinnamon Production in Asia-Pacific

In value terms, cinnamon production declined modestly to $X in 2021 estimated in export prices. Over the period under review, production, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% y-o-y. The level of production peaked at $X in 2020, and then dropped in the following year.

The countries with the highest volumes of cinnamon production in 2021 were Indonesia (X tonnes), China (X tonnes) and Vietnam (X tonnes), together comprising X% of total production.

From 2012 to 2021, the biggest increases were in Vietnam (+X%), while cinnamon production for the other leaders experienced more modest paces of growth.

The average cinnamon yield dropped to X kg per ha in 2021, waning by -X% on the year before. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the yield attained the peak level of X kg per ha, and then shrank in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the harvested area of cinnamon (canella) in Asia-Pacific rose slightly to X ha, picking up by X% against the previous year. The harvested area increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X% year-to-year. The level of harvested area peaked in 2021 and is expected to retain growth in the near future.

Production By Country in Asia-Pacific

The countries with the highest volumes of cinnamon production in 2021 were Indonesia (X tonnes), China (X tonnes) and Vietnam (X tonnes), together comprising X% of total production.

From 2012 to 2021, the most notable rate of growth in terms of cinnamon production, amongst the key producing countries, was attained by Vietnam (+X%), while cinnamon production for the other leaders experienced more modest paces of growth.

Cinnamon Exports

Exports in Asia-Pacific

Cinnamon exports contracted to X tonnes in 2021, reducing by -X% against 2020 figures. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2016 indices. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of X tonnes, and then declined in the following year.

In value terms, cinnamon exports reduced to $X in 2021. In general, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of X% y-o-y. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

China (X tonnes) and Vietnam (X tonnes) represented roughly X% of total exports of cinnamon (canella) in 2021. It was distantly followed by Indonesia (X tonnes) and Sri Lanka (X tonnes), together comprising a X% share of total exports.

From 2012 to 2021, the biggest increases were in Vietnam (+X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Sri Lanka ($X) and Vietnam ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising X% of total exports.

Vietnam, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the cinnamon export price in Asia-Pacific amounted to $X per tonne, declining by -X% against the previous year. Export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cinnamon export price increased by +X% against 2012 indices. The growth pace was the most rapid in 2017 when the export price increased by X% y-o-y. Over the period under review, the export prices reached the maximum at $X per tonne in 2020, and then reduced modestly in the following year.

Prices varied noticeably by the country of origin: the country with the highest price was Sri Lanka ($X per tonne), while Vietnam ($X per tonne) was amongst the lowest.

From 2012 to 2021, 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-Pacific

Cinnamon imports surged to X tonnes in 2021, jumping by X% on 2020. In general, imports showed buoyant growth. The most prominent rate of growth was recorded in 2013 when imports increased by X% y-o-y. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, cinnamon imports reduced to $X in 2021. Overall, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2014 when imports increased by X% y-o-y. Over the period under review, imports attained the maximum at $X in 2020, and then fell modestly in the following year.

Imports by Country

In 2021, India (X tonnes) and Bangladesh (X tonnes) represented the key importers of cinnamon (canella) in Asia-Pacific, together making up X% of total imports. Vietnam (X tonnes) occupied the next position in the ranking, followed by Pakistan (X tonnes). All these countries together held approx. X% share of total imports. The following importers - Indonesia (X tonnes), South Korea (X tonnes), Malaysia (X tonnes) and Taiwan (Chinese) (X tonnes) - together made up X% of total imports.

From 2012 to 2021, the biggest increases were in Vietnam (+X%), while purchases for the other leaders experienced more modest paces of growth.

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

From 2012 to 2021, the average annual growth rate of value in India totaled +X%. 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 cinnamon import price in Asia-Pacific stood at $X per tonne in 2021, with a decrease of -X% against the previous year. Import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cinnamon import price decreased by -X% against 2019 indices. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The level of import peaked at $X per tonne in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Malaysia ($X per tonne), while Bangladesh ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform