Southern Asia: Cinnamon Market 2024

Cinnamon Market Size in Southern Asia

The South Asian cinnamon market reached $X in 2022, leveling off at the previous year. In general, consumption enjoyed strong growth. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in years to come.

Cinnamon Production in Southern Asia

In value terms, cinnamon production fell modestly to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value 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, production increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

The country with the largest volume of cinnamon production was Sri Lanka (X tons), comprising approx. X% of total volume. Moreover, cinnamon production in Sri Lanka exceeded the figures recorded by the second-largest producer, Nepal (X tons), more than tenfold.

In Sri Lanka, cinnamon production expanded at an average annual rate of X% over the period from 2012-2022.

The average cinnamon yield reached X kg per ha in 2022, almost unchanged from 2021 figures. In general, the yield continues to indicate a mild increase. The most prominent rate of growth was recorded in 2018 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2019 to 2022, the growth of the cinnamon yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cinnamon (canella) production in Southern Asia contracted slightly to X ha, reducing by X% on 2021 figures. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the harvested area increased by X% against the previous year. The level of harvested area peaked at X ha in 2021, and then fell slightly in the following year.

Cinnamon Exports

Exports in Southern Asia

In 2022, approx. X tons of cinnamon (canella) were exported in Southern Asia; reducing by X% compared with the year before. Over the period under review, exports, however, posted a temperate increase. The growth pace was the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, cinnamon exports reduced to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value 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, exports increased by X% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

Sri Lanka represented the major exporter of cinnamon (canella) in Southern Asia, with the volume of exports amounting to X tons, which was near X% of total exports in 2022. Nepal (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by India (X%).

From 2012 to 2022, average annual rates of growth with regard to cinnamon exports from Sri Lanka stood at X%. At the same time, Nepal (X%) and India (X%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2022. Nepal (X p.p.) and India (X p.p.) significantly strengthened its position in terms of the total exports, while Sri Lanka saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Sri Lanka ($X) remains the largest cinnamon supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Sri Lanka amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: India (X% per year) and Nepal (X% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, waning by X% against the previous year. Export price indicated a tangible 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 export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2021, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced mixed trends in the export price figures.

Cinnamon Imports

Imports in Southern Asia

In 2022, the amount of cinnamon (canella) imported in Southern Asia rose to X tons, growing by X% on the year before. In general, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, cinnamon imports dropped modestly to $X in 2022. Overall, imports showed prominent growth. The pace of growth appeared the most rapid in 2014 when imports increased by X%. The level of import peaked at $X in 2021, and then reduced modestly in the following year.

Imports by Country

India was the key importer of cinnamon (canella) in Southern Asia, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. Bangladesh (X tons) ranks second in terms of the total imports with a X% share, followed by Pakistan (X%).

From 2012 to 2022, average annual rates of growth with regard to cinnamon imports into India stood at X%. At the same time, Pakistan (X%) and Bangladesh (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. While the share of India (X p.p.) and Pakistan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Bangladesh (X p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported cinnamon (canella) in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Bangladesh ($X), with a X% share of total imports.

In India, cinnamon imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and Pakistan (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, falling by X% against the previous year. 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 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The level of import peaked at $X per ton in 2021, and then shrank modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bangladesh ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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