Sri Lanka - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSri Lanka: Cinnamon Market 2024
Cinnamon Market Size in Sri Lanka
The Sri Lankan cinnamon market expanded modestly to $X in 2022, rising by X% against the previous year. In general, consumption saw a buoyant expansion. Cinnamon consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.
Cinnamon Production in Sri Lanka
In value terms, cinnamon production dropped modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a prominent increase 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 most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.
In 2022, the average cinnamon yield in Sri Lanka was estimated at X kg per ha, almost unchanged from 2021 figures. The yield figure increased at an average annual rate of X% 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 2016 with an increase of X% against the previous year. The cinnamon yield peaked at X kg per ha in 2017; however, from 2018 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, the total area harvested in terms of cinnamon (canella) production in Sri Lanka dropped to X ha, waning by X% against the previous year's figure. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X%. The cinnamon harvested area peaked at X ha in 2021, and then dropped slightly in the following year.
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Cinnamon Exports
Exports from Sri Lanka
In 2022, cinnamon exports from Sri Lanka contracted modestly to X tons, with a decrease of X% against 2021. Over the period under review, exports, however, posted a notable expansion. The pace of growth was the most pronounced in 2018 when exports increased by X%. As a result, the exports attained 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. Overall, total exports indicated a remarkable increase 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 most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then declined in the following year.
Exports by Country
Mexico (X tons) was the main destination for cinnamon exports from Sri Lanka, with a X% share of total exports. Moreover, cinnamon exports to Mexico exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by Peru (X tons), with a X% share.
From 2012 to 2022, the average annual growth rate of volume to Mexico was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Peru (X% per year).
In value terms, Mexico ($X) remains the key foreign market for cinnamon (canella) exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with an X% share of total exports. It was followed by Peru, with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of value to Mexico totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Peru (X% per year).
Export Prices by Country
In 2022, the average cinnamon export price amounted to $X per ton, declining by X% against the previous year. In general, export price indicated a moderate expansion 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 pace of growth appeared the most rapid in 2019 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then dropped slightly in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.
Cinnamon Imports
Imports into Sri Lanka
In 2022, cinnamon imports into Sri Lanka declined markedly to X tons, reducing by X% on 2021. In general, imports faced a deep contraction. The growth pace was the most rapid in 2018 when imports increased by X%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, cinnamon imports declined sharply to $X in 2022. Overall, imports saw a deep reduction. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.
Imports by Country
In 2022, Colombia (X tons) constituted the largest cinnamon supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, cinnamon imports from Colombia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), ninefold. The third position in this ranking was held by India (X kg), with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume from Colombia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and India (X% per year).
In value terms, Colombia ($X) constituted the largest supplier of cinnamon (canella) to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with a X% share of total imports. It was followed by India, with a X% share.
From 2012 to 2022, the average annual growth rate of value from Colombia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and India (X% per year).
Import Prices by Country
The average cinnamon import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price, however, saw a modest expansion. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Madagascar ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the cinnamon market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 693 - Cinnamon (canella)
Country coverage:
- Sri Lanka
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Sri Lanka
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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