Australia and Oceania: Cinnamon Market 2024

Cinnamon Market Size in Australia and Oceania

In 2022, the cinnamon market in Australia and Oceania decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. The total consumption indicated a strong increase 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 2017 indices. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Cinnamon Production in Australia and Oceania

In value terms, cinnamon production amounted to $X in 2022 estimated in export price. The total production indicated a buoyant expansion 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Papua New Guinea (X tons) constituted the country with the largest volume of cinnamon production, comprising approx. X% of total volume.

In Papua New Guinea, cinnamon production increased at an average annual rate of X% over the period from 2012-2022.

Cinnamon Exports

Exports in Australia and Oceania

In 2022, shipments abroad of cinnamon (canella) increased by X% to X tons, rising for the third year in a row after three years of decline. In general, exports enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, cinnamon exports rose notably to $X in 2022. Over the period under review, exports posted a measured expansion. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Australia dominates exports structure, reaching X tons, which was near X% of total exports in 2022. It was distantly followed by New Zealand (X tons), achieving a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cinnamon exports from Australia stood at X%. At the same time, New Zealand (X%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of X% from 2012-2022. New Zealand (X p.p.) significantly strengthened its position in terms of the total exports, while Australia saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Australia ($X) remains the largest cinnamon supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total exports.

In Australia, cinnamon exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, falling by X% against the previous year. Export price indicated mild growth from 2012 to 2022: its price 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, cinnamon export price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%).

Cinnamon Imports

Imports in Australia and Oceania

In 2022, after two years of growth, there was significant decline in overseas purchases of cinnamon (canella), when their volume decreased by X% to X tons. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, cinnamon imports dropped to $X in 2022. In general, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

Australia represented the major importer of cinnamon (canella) in Australia and Oceania, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. It was distantly followed by New Zealand (X tons), making up a X% share of total imports.

Australia experienced a relatively flat trend pattern with regard to volume of imports of cinnamon (canella). New Zealand experienced a relatively flat trend pattern. From 2012 to 2022, the share of Australia increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported cinnamon (canella) in Australia and Oceania, comprising X% of total imports. The second position in the ranking was held by New Zealand ($X), with a X% share of total imports.

In Australia, cinnamon imports increased at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the import price, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2021, and then reduced in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%).

Source: IndexBox Platform

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