Italy: Cinnamon Market Overview 2021

Cinnamon Market Size in Italy

In 2019, the Italian cinnamon market decreased by -X% to $X for the first time since 2012, thus ending a six-year rising trend. Over the period under review, consumption, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Cinnamon consumption peaked at $X in 2018, and then contracted significantly in the following year.

Cinnamon Exports

Exports from Italy

In 2019, overseas shipments of cinnamon (canella) decreased by -X% to X tonnes, falling for the second year in a row after three years of growth. Overall, exports, however, saw prominent growth. The pace of growth was the most pronounced in 2011 when exports increased by X% against the previous year. Exports peaked at X tonnes in 2017; however, from 2018 to 2019, exports stood at a somewhat lower figure.

In value terms, cinnamon exports fell notably to $X in 2019. In general, exports, however, recorded a strong increase. The growth pace was the most rapid in 2011 when exports increased by X% y-o-y. Exports peaked at $X in 2017; however, from 2018 to 2019, exports failed to regain the momentum.

Exports by Country

Greece (X tonnes) was the main destination for cinnamon exports from Italy, with a X% share of total exports. Moreover, cinnamon exports to Greece exceeded the volume sent to the second major destination, France (X tonnes), twofold. The third position in this ranking was occupied by Sri Lanka (X tonnes), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to Greece totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+X% per year) and Sri Lanka (-X% per year).

In value terms, the largest markets for cinnamon exported from Italy were Greece ($X), France ($X) and Sri Lanka ($X), together comprising X% of total exports. These countries were followed by Germany, Poland, Croatia, Bulgaria, Cyprus, Albania, Austria, Hungary, Argentina and Slovenia, which together accounted for a further X the main countries of destination, Poland (+X% per year) saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2019, the average cinnamon export price amounted to $X per tonne, falling by -X% against the previous year. Overall, the export price, however, recorded strong growth. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% year-to-year. The export price peaked at $X per tonne in 2015; however, from 2016 to 2019, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Sri Lanka ($X per tonne), while the average price for exports to Hungary ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka, while the prices for the other major destinations experienced more modest paces of growth.

Cinnamon Imports

Imports into Italy

In 2019, after two years of growth, there was significant decline in supplies from abroad of cinnamon (canella), when their volume decreased by -X% to X tonnes. Over the period under review, total imports indicated a notable increase from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tonnes in 2018, and then dropped notably in the following year.

In value terms, cinnamon imports shrank significantly to $X in 2019. Overall, imports, however, showed strong growth. The pace of growth was the most pronounced in 2011 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure at $X in 2018, and then dropped remarkably in the following year.

Imports by Country

Sri Lanka (X tonnes), Madagascar (X tonnes) and France (X tonnes) were the main suppliers of cinnamon imports to Italy, with a combined X% share of total imports. Spain, the Netherlands, Germany, Tanzania and Indonesia lagged somewhat behind, together accounting for a further X 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Tanzania (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sri Lanka ($X) constituted the largest supplier of cinnamon to Italy, comprising X% of total imports. The second position in the ranking was occupied by France ($X), with a X% share of total imports. It was followed by Madagascar, with a X% share.

From 2007 to 2019, the average annual growth rate of value from Sri Lanka stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+X% per year) and Madagascar (+X% per year).

Import Prices by Country

In 2019, the average cinnamon import price amounted to $X per tonne, declining by -X% against the previous year. In general, import price indicated a measured expansion from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, cinnamon import price decreased by -X% against 2017 indices. The growth pace was the most rapid in 2011 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per tonne in 2017; however, from 2018 to 2019, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Sri Lanka ($X per tonne), while the price for Indonesia ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

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

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Indonesia (53K tonnes) remains the largest cinnamon consuming country worldwide, accounting for 21% of total volume. Moreover, cinnamon consumption in Indonesia exceeded the figures recorded by the second-largest consumer, the U.S. (26K tonnes), twofold. India (23K tonnes) ranked third in terms of total consumption with a 9.2% share.

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

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The countries with the highest volumes of cinnamon production in 2019 were Indonesia (90K tonnes), China (83K tonnes) and Viet Nam (41K tonnes), together comprising 88% of global production.

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

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In value terms, Sri Lanka ($920K) constituted the largest supplier of cinnamon to Italy, comprising 38% of total imports. The second position in the ranking was occupied by France ($326K), with a 14% share of total imports. It was followed by Madagascar, with a 12% share.

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

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In value terms, Greece ($127K), France ($124K) and Sri Lanka ($72K) were the largest markets for cinnamon exported from Italy worldwide, with a combined 65% share of total exports. Germany, Poland, Croatia, Bulgaria, Cyprus, Albania, Austria, Hungary, Argentina and Slovenia lagged somewhat behind, together comprising a further 28%.

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

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In 2019, the average cinnamon export price amounted to $6,792 per tonne, with a decrease of -10.1% against the previous year.

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

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In 2019, the average cinnamon import price amounted to $5,397 per tonne, waning by -3.2% against the previous year.