Croatia: Cinnamon Market 2024

Cinnamon Market Size in Croatia

The Croatian cinnamon market totaled $X in 2022, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a prominent 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, consumption increased by X% against 2020 indices. Cinnamon consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Cinnamon Exports

Exports from Croatia

In 2022, overseas shipments of cinnamon (canella) decreased by X% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, cinnamon exports shrank slightly to $X in 2022. Over the period under review, exports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then shrank modestly in the following year.

Exports by Country

Slovenia (X tons) was the main destination for cinnamon exports from Croatia, with a X% share of total exports. Moreover, cinnamon exports to Slovenia exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), fourfold. Kosovo (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Slovenia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (X% per year) and Kosovo (X% per year).

In value terms, Slovenia ($X) remains the key foreign market for cinnamon (canella) exports from Croatia, comprising X% of total exports. The second position in the ranking was held by Bosnia and Herzegovina ($X), with a X% share of total exports. It was followed by Kosovo, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Slovenia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (X% per year) and Kosovo (X% per year).

Export Prices by Country

The average cinnamon export price stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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 Bosnia and Herzegovina ($X per ton), while the average price for exports to Serbia ($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 India (X%), while the prices for the other major destinations experienced mixed trend patterns.

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Cinnamon Imports

Imports into Croatia

In 2022, overseas purchases of cinnamon (canella) were finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, cinnamon imports rose notably to $X in 2022. Overall, total imports indicated a resilient 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Austria (X tons) and Germany (X tons) were the main suppliers of cinnamon imports to Croatia, together accounting for X% of total imports.

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

In value terms, Austria ($X), the Netherlands ($X) and Germany ($X) constituted the largest cinnamon suppliers to Croatia, with a combined X% share of total imports.

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

Import Prices by Country

In 2022, the average cinnamon import price amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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