Norway: Cinnamon Market 2022

Cinnamon Market Size in Norway

The Norwegian cinnamon market totaled $X in 2021, approximately equating 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, consumption, however, recorded a buoyant increase. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the near future.

Cinnamon Exports

Exports from Norway

Cinnamon exports from Norway soared to X tons in 2021, with an increase of X% compared with the previous year. Overall, exports posted a significant increase. The growth pace was the most rapid in 2016 with an increase of X%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, cinnamon exports soared to $X in 2021. Over the period under review, exports enjoyed significant growth. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Sweden (X tons) was the main destination for cinnamon exports from Norway, accounting for a approx. X% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Sweden totaled +X%.

In value terms, Sweden ($X) also remains the key foreign market for cinnamon exports from Norway.

From 2012 to 2021, the average annual growth rate of value to Sweden totaled +X%.

Export Prices by Country

In 2021, the average cinnamon export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price recorded a strong increase. The pace of growth appeared the most rapid in 2018 when the average export price increased by X%. The export price peaked in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the rate of growth in terms of prices for Sweden amounted to +X% per year.

Cinnamon Imports

Imports into Norway

In 2021, the amount of cinnamon (canella) imported into Norway dropped to X tons, with a decrease of -X% compared with 2020. The total import volume increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by X%. Imports peaked at X tons in 2020, and then reduced in the following year.

In value terms, cinnamon imports expanded rapidly to $X in 2021. In general, imports, however, posted a strong expansion. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest cinnamon supplier to Norway, with a X% share of total imports. Moreover, cinnamon imports from Indonesia exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), sevenfold. The third position in this ranking was taken by India (X tons), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Indonesia stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+X% per year) and India (+X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of cinnamon to Norway, comprising X% of total imports. The second position in the ranking was held by Sri Lanka ($X), with an X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Indonesia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+X% per year) and India (+X% per year).

Import Prices by Country

The average cinnamon import price stood at $X per ton in 2021, increasing by X% against the previous year. In general, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 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%. The import price peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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