Eastern Asia: Cinnamon Market 2024

Cinnamon Market Size in Eastern Asia

The East Asian cinnamon market contracted to $X in 2022, which is down by X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Cinnamon Production in Eastern Asia

In value terms, cinnamon production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a prominent increase. The growth pace was the most rapid in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

China (X tons) constituted the country with the largest volume of cinnamon production, accounting for X% of total volume.

From 2012 to 2022, the average annual growth rate of volume in China stood at X%.

The average cinnamon yield contracted slightly to X tons per ha in 2022, therefore, remained relatively stable against 2021. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2018 when the yield increased by X%. The level of yield peaked at X tons per ha in 2021, and then contracted slightly 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 2022, approx. X ha of cinnamon (canella) were harvested in Eastern Asia; approximately mirroring the previous year. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to cinnamon production reached the maximum at X ha in 2021, and then declined in the following year.

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Cinnamon Exports

Exports in Eastern Asia

In 2022, approx. X tons of cinnamon (canella) were exported in Eastern Asia; growing by X% compared with 2021. Over the period under review, exports recorded buoyant growth. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, cinnamon exports fell modestly to $X in 2022. In general, exports posted resilient growth. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, China (X tons) represented the key exporter of cinnamon (canella) in Eastern Asia, making up X% of total export.

China was also the fastest-growing in terms of the cinnamon (canella) exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest cinnamon supplier in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in China amounted to X%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, which is down by X% against the previous year. In general, the export price, however, saw a resilient increase. The most prominent rate of growth was recorded in 2019 when the export price increased by X%. The level of export peaked at $X per ton in 2021, and then dropped in the following year.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Cinnamon Imports

Imports in Eastern Asia

In 2022, overseas purchases of cinnamon (canella) were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. 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 in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, cinnamon imports totaled $X in 2022. Total imports 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, imports increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2013 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

The purchases of the three major importers of cinnamon (canella), namely South Korea, Japan and Taiwan (Chinese), represented more than two-thirds of total import. It was distantly followed by China (X tons), mixing up a X% share of total imports.

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

In value terms, the largest cinnamon importing markets in Eastern Asia were Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined X% share of total imports. China lagged somewhat behind, comprising a further X%.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, waning by X% against the previous year. Import price indicated a prominent increase 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 import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted slightly in the following year.

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

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

Source: IndexBox Platform

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