Portugal - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights

Portugal: Cinnamon Market Overview 2020

Cinnamon Market Size in Portugal

The revenue of the cinnamon market in Portugal amounted to $X in 2018, surging 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). In general, cinnamon consumption, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Over the period under review, the cinnamon market attained its maximum level in 2018 and is expected to retain its growth in the immediate term.

Cinnamon Exports

Exports from Portugal

In 2018, the amount of cinnamon (canella) exported from Portugal stood at X tonnes, coming down by -X% against the previous year. In general, cinnamon exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by X% year-to-year. In that year, cinnamon exports attained their peak of X tonnes. From 2017 to 2018, the growth of cinnamon exports remained at a lower figure.

In value terms, cinnamon exports stood at $X in 2018. Over the period under review, cinnamon exports, however, continue to indicate a measured descent. The most prominent rate of growth was recorded in 2012 with an increase of X% year-to-year. Exports peaked at $X in 2016; however, from 2017 to 2018, exports remained at a lower figure.

Exports by Country

Spain (X tonnes), Angola (X tonnes) and the UK (X tonnes) were the main destinations of cinnamon exports from Portugal, with a combined X% share of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Spain, while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Angola ($X) and the UK ($X) were the largest markets for cinnamon exported from Portugal worldwide, with a combined X% share of total exports.

Spain experienced the highest growth rate of exports, in terms of the main countries of destination over the last eleven-year period, while the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2018, the average cinnamon export price amounted to $X per tonne, coming down by -X% against the previous year. Over the period under review, the cinnamon export price continues to indicate a measured setback. The most prominent rate of growth was recorded in 2008 when the average export price increased by X% against the previous year. Over the period under review, the average export prices for cinnamon (canella) reached their maximum at $X per tonne in 2015; however, from 2016 to 2018, export prices remained at a lower figure.

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

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Luxembourg, while the prices for the other major destinations experienced a decline.

Cinnamon Imports

Imports into Portugal

Cinnamon imports into Portugal amounted to X tonnes in 2018, waning by -X% against the previous year. The total import volume increased at an average annual rate of +X% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of X% year-to-year. Imports peaked at X tonnes in 2017, and then declined slightly in the following year.

In value terms, cinnamon imports stood at $X in 2018. In general, cinnamon imports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2008 with an increase of X% y-o-y. Imports peaked in 2018 and are expected to retain its growth in the near future.

Imports by Country

In 2018, Indonesia (X tonnes) constituted the largest cinnamon supplier to Portugal, accounting for a X% share of total imports. Moreover, cinnamon imports from Indonesia exceeded the figures recorded by the second-largest supplier, France (X tonnes), twofold. Spain (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of volume from Indonesia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+X% per year) and Spain (+X% per year).

In value terms, the largest cinnamon suppliers to Portugal were Indonesia ($X), France ($X) and Spain ($X), with a combined X% share of total imports. These countries were followed by the Netherlands, Belgium, the U.S. and Viet Nam, which together accounted for a further X U.S. recorded the highest growth rate of imports, among the main suppliers over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the average cinnamon import price amounted to $X per tonne, surging by X% against the previous year. Overall, the cinnamon import price continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2018 an increase of X% year-to-year. In that year, the average import prices for cinnamon (canella) reached their peak level and is likely to continue its growth in the immediate term.

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

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform