Finland: Cinnamon Market 2023

Cinnamon Market Size in Finland

The Finnish cinnamon market surged to $X in 2022, jumping 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). Over the period under review, consumption posted resilient growth. Cinnamon consumption peaked in 2022 and is expected to retain growth in the immediate term.

Cinnamon Exports

Exports from Finland

In 2022, overseas shipments of cinnamon (canella) were finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports continue to indicate resilient growth. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, cinnamon exports soared to $X in 2022. In general, exports enjoyed buoyant growth. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Estonia (X tons) was the main destination for cinnamon exports from Finland, with a X% share of total exports. Moreover, cinnamon exports to Estonia exceeded the volume sent to the second major destination, Denmark (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and Sweden (X% per year).

In value terms, Estonia ($X) remains the key foreign market for cinnamon (canella) exports from Finland, comprising X% of total exports. The second position in the ranking was taken by Denmark ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Estonia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and Sweden (X% per year).

Export Prices by Country

The average cinnamon export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price saw prominent growth. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Sweden ($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 Denmark (X%), while the prices for the other major destinations experienced mixed trend patterns.

Cinnamon Imports

Imports into Finland

Cinnamon imports into Finland surged to X tons in 2022, jumping by X% on the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, cinnamon imports soared to $X in 2022. In general, imports continue to indicate resilient growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Indonesia (X tons), the Netherlands (X tons) and Sweden (X tons) were the main suppliers of cinnamon imports to Finland, together accounting for X% of total imports. Germany, Romania and Vietnam lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of X.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cinnamon suppliers to Finland were Indonesia ($X), the Netherlands ($X) and Sweden ($X), together comprising X% of total imports. Germany, Romania and Vietnam lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Romania, with a CAGR of X.7%, recorded 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

In 2022, the average cinnamon import price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, 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 2016 indices. The growth pace was the most rapid in 2014 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Indonesia ($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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