ECOWAS - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Cinnamon Market 2024
Cinnamon Market Size in ECOWAS
In 2022, the ECOWAS cinnamon market decreased by X% to $X for the first time since 2016, thus ending a five-year rising trend. In general, consumption, however, enjoyed buoyant growth. The level of consumption peaked at $X in 2021, and then declined in the following year.
Cinnamon Production in ECOWAS
In value terms, cinnamon production expanded markedly to $X in 2022 estimated in export price. Over the period under review, production posted a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.
Guinea (X tons) remains the largest cinnamon producing country in ECOWAS, comprising approx. X% of total volume. Moreover, cinnamon production in Guinea exceeded the figures recorded by the second-largest producer, Niger (X tons), eightfold. The third position in this ranking was held by Ghana (X tons), with a X% share.
In Guinea, cinnamon production expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Niger (X% per year) and Ghana (X% per year).
Cinnamon Exports
Exports in ECOWAS
In 2022, the amount of cinnamon (canella) exported in ECOWAS reduced dramatically to X tons, declining by X% compared with the previous year. Over the period under review, exports, however, recorded slight growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.
In value terms, cinnamon exports contracted significantly to $X in 2022. In general, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.
Exports by Country
In 2022, Liberia (X tons) was the main exporter of cinnamon (canella), making up X% of total exports. Nigeria (X tons) ranks second in terms of the total exports with a X% share, followed by Sierra Leone (X%) and Cote d'Ivoire (X%).
Exports from Liberia increased at an average annual rate of X% from 2012 to 2022. At the same time, Nigeria (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%) and Sierra Leone (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Liberia and Cote d'Ivoire increased by X, X and X percentage points, respectively.
In value terms, Liberia ($X) remains the largest cinnamon supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports. It was followed by Sierra Leone, with an X% share.
In Liberia, cinnamon exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (X% per year) and Sierra Leone (X% per year).
Export Prices by Country
In 2022, the export price in ECOWAS amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price enjoyed perceptible growth. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Nigeria ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.
Cinnamon Imports
Imports in ECOWAS
After two years of growth, overseas purchases of cinnamon (canella) decreased by X% to X tons in 2022. Over the period under review, imports, however, saw a notable expansion. The pace of growth was the most pronounced in 2015 when imports increased by X%. The volume of import peaked at X tons in 2021, and then contracted rapidly in the following year.
In value terms, cinnamon imports shrank rapidly to $X in 2022. Overall, imports, however, posted a notable increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of import peaked at $X in 2021, and then shrank notably in the following year.
Imports by Country
In 2022, Nigeria (X tons) was the key importer of cinnamon (canella), achieving X% of total imports. Ghana (X tons) ranks second in terms of the total imports with a X% share, followed by Cabo Verde (X%) and Cote d'Ivoire (X%). The following importers - Benin (X tons), Mali (X tons) and Guinea-Bissau (X tons) - each resulted at a X% share of total imports.
From 2012 to 2022, average annual rates of growth with regard to cinnamon imports into Nigeria stood at X%. At the same time, Benin (X%), Cote d'Ivoire (X%), Ghana (X%), Cabo Verde (X%) and Guinea-Bissau (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Mali (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Ghana (X p.p.), Cabo Verde (X p.p.), Cote d'Ivoire (X p.p.) and Benin (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mali (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest cinnamon importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cabo Verde ($X), together comprising X% of total imports. Mali, Cote d'Ivoire, Guinea-Bissau and Benin lagged somewhat behind, together accounting for a further X%.
Guinea-Bissau, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of 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 ECOWAS amounted to $X per ton, waning by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the import prices remained at a lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mali ($X per ton), while Nigeria ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the cinnamon market in ECOWAS. 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:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
- HARVESTED AREA AND YIELD BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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