South-Eastern Asia: Cinnamon Market 2024

Cinnamon Market Size in South-Eastern Asia

In 2022, the Southeast Asian cinnamon market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Cinnamon Production in South-Eastern Asia

In value terms, cinnamon production declined to $X in 2022 estimated in export price. Overall, production, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Indonesia (X tons) and Vietnam (X tons).

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Vietnam (with a CAGR of X%).

In 2022, the average cinnamon yield in South-Eastern Asia fell slightly to X kg per ha, with a decrease of X% on the previous year's figure. Over the period under review, the yield showed a pronounced curtailment. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the cinnamon yield hit record highs at X kg per ha in 2012; however, from 2013 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of cinnamon (canella) were harvested in South-Eastern Asia; remaining constant against the previous year's figure. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of harvested area peaked at X ha in 2021, and then dropped slightly in the following year.

Cinnamon Exports

Exports in South-Eastern Asia

After two years of growth, overseas shipments of cinnamon (canella) decreased by X% to X tons in 2022. The total export 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 most prominent rate of growth was recorded in 2013 when exports increased by X%. The volume of export peaked at X tons in 2021, and then declined in the following year.

In value terms, cinnamon exports shrank to $X in 2022. In general, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of export peaked at $X in 2021, and then reduced in the following year.

Exports by Country

In 2022, Vietnam (X tons) represented the key exporter of cinnamon (canella), constituting X% of total exports. It was distantly followed by Indonesia (X tons), creating a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of X%).

In value terms, Vietnam ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2022.

Vietnam, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price continues to indicate buoyant growth. The growth pace was the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Indonesia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%).

Cinnamon Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of cinnamon (canella) decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2021, and then shrank markedly in the following year.

In value terms, cinnamon imports declined remarkably to $X in 2022. In general, imports, however, showed significant growth. The pace of growth appeared the most rapid in 2017 when imports increased by X%. The level of import peaked at $X in 2021, and then contracted rapidly in the following year.

Imports by Country

Vietnam represented the main importer of cinnamon (canella) in South-Eastern Asia, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. Indonesia (X tons) ranks second in terms of the total imports with a X% share, followed by Malaysia (X%) and Thailand (X%). Singapore (X tons) took a relatively small share of total imports.

Vietnam was also the fastest-growing in terms of the cinnamon (canella) imports, with a CAGR of X% from 2012 to 2022. At the same time, Indonesia (X%) and Malaysia (X%) displayed positive paces of growth. By contrast, Singapore (X%) and Thailand (X%) illustrated a downward trend over the same period. Vietnam (X p.p.) and Indonesia (X p.p.) significantly strengthened its position in terms of the total imports, while Singapore, Malaysia and Thailand saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) constitutes the largest market for imported cinnamon (canella) in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with an X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam totaled X%. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price recorded a resilient expansion. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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 Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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