Report Update Apr 1, 2024

Bulgaria - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights

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Bulgaria: Cinnamon Market 2024

Cinnamon Market Size in Bulgaria

After two years of growth, the Bulgarian cinnamon market decreased by X% to $X in 2022. Overall, consumption, however, enjoyed a strong increase. Cinnamon consumption peaked at $X in 2021, and then reduced sharply in the following year.

Cinnamon Exports

Exports from Bulgaria

In 2022, after two years of growth, there was significant decline in overseas shipments of cinnamon (canella), when their volume decreased by X% to X tons. Over the period under review, exports recorded a abrupt downturn. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, cinnamon exports dropped significantly to $X in 2022. In general, exports continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2021, and then declined significantly in the following year.

Exports by Country

North Macedonia (X tons), Georgia (X tons) and Romania (X tons) were the main destinations of cinnamon exports from Bulgaria, together comprising X% of total exports. Greece, Albania, Serbia, the UK, Germany, Spain, Cyprus and Lithuania lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Georgia ($X) and North Macedonia ($X) were the largest markets for cinnamon exported from Bulgaria worldwide, with a combined X% share of total exports. Germany, Greece, Serbia, the UK, Albania, Spain, Cyprus and Lithuania lagged somewhat behind, together accounting for a further X%.

The UK, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cinnamon export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price, however, showed a prominent expansion. The pace of growth was the most pronounced in 2017 an increase of X%. The export price peaked at $X per ton in 2021, and then shrank modestly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Albania ($X 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 Moldova (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cinnamon Imports

Imports into Bulgaria

In 2022, after two years of growth, there was significant decline in purchases abroad of cinnamon (canella), when their volume decreased by X% to X tons. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then shrank markedly in the following year.

In value terms, cinnamon imports contracted markedly to $X in 2022. In general, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then dropped remarkably in the following year.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest cinnamon supplier to Bulgaria, accounting for a X% share of total imports. Moreover, cinnamon imports from Vietnam exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), fivefold. Latvia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (X% per year) and Latvia (X% per year).

In value terms, Vietnam ($X), Sri Lanka ($X) and Austria ($X) appeared to be the largest cinnamon suppliers to Bulgaria, with a combined X% share of total imports.

Among the main suppliers, Sri Lanka, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cinnamon import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cinnamon (canella) in the world?

The countries with the highest volumes of consumption in 2023 were India, the United States and Indonesia, with a combined 37% share of global consumption. China, Mexico, Bangladesh, Pakistan, Iran, Sri Lanka, Saudi Arabia and Vietnam lagged somewhat behind, together comprising a further 32%.

What are the largest producers of cinnamon (canella) in the world?

The countries with the highest volumes of production in 2022 were China, Indonesia and Vietnam, with a combined 83% share of global production.

What are the leading suppliers of cinnamon (canella) to Bulgaria?

In value terms, the largest cinnamon suppliers to Bulgaria were Vietnam, Sri Lanka and Austria, together accounting for 75% of total imports.

What are the leading importers of cinnamon (canella) from Bulgaria?

In value terms, Romania, Georgia and North Macedonia appeared to be the largest markets for cinnamon exported from Bulgaria worldwide, together comprising 58% of total exports. Germany, Greece, Serbia, the UK, Albania, Spain, Cyprus and Lithuania lagged somewhat behind, together comprising a further 32%.

What is the average export price for cinnamon (canella) in Bulgaria?

The average cinnamon export price stood at $6,364 per ton in 2022, waning by -1.7% against the previous year.

What is the average import price for cinnamon (canella) in Bulgaria?

In 2022, the average cinnamon import price amounted to $4,606 per ton, picking up by 15% against the previous year.

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

Bulgaria

Data coverage:

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