U.S.: Cinnamon Market Overview 2021

Cinnamon Market Size in the U.S.

The U.S. cinnamon market soared to $X in 2019, jumping 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). Over the period under review, consumption recorded a prominent expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Cinnamon Exports

Exports from the U.S.

In 2019, overseas shipments of cinnamon (canella) decreased by -X% to X tonnes for the first time since 2016, thus ending a two-year rising trend. In general, total exports indicated notable growth from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2011 when exports increased by X% y-o-y. Over the period under review, exports attained the peak figure at X tonnes in 2018, and then dropped in the following year.

In value terms, cinnamon exports fell modestly to $X in 2019. Overall, exports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2011 when exports increased by X% y-o-y. Over the period under review, exports hit record highs at $X in 2018, and then shrank modestly in the following year.

Exports by Country

Canada (X tonnes) was the main destination for cinnamon exports from the U.S., with a X% share of total exports. Moreover, cinnamon exports to Canada exceeded the volume sent to the second major destination, Mexico (X tonnes), twofold. The third position in this ranking was occupied by South Korea (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Canada amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+X% per year) and South Korea (+X% per year).

In value terms, Canada ($X) remains the key foreign market for cinnamon exports from the U.S., comprising X% of total exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to Canada amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+X% per year) and South Korea (+X% per year).

Export Prices by Country

The average cinnamon export price stood at $X per tonne in 2019, rising by X% against the previous year. Over the period under review, export price indicated buoyant growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, cinnamon export price increased by +X% against 2007 indices. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The export price peaked in 2019 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2019, the countries with the highest prices were South Korea ($X per tonne) and Canada ($X per tonne), while the average price for exports to Sri Lanka ($X per tonne) and Mexico ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Canada, while the prices for the other major destinations experienced more modest paces of growth.

Cinnamon Imports

Imports into the U.S.

In 2019, cinnamon imports into the U.S. skyrocketed to X tonnes, jumping by X% against 2018. Overall, total imports indicated noticeable growth from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports decreased by -X% against 2017 indices. Imports peaked at X tonnes in 2017; however, from 2018 to 2019, imports remained at a lower figure.

In value terms, cinnamon imports surged to $X in 2019. In general, imports continue to indicate prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2019, Indonesia (X tonnes) constituted the largest supplier of cinnamon to the U.S., accounting for a X% share of total imports. Moreover, cinnamon imports from Indonesia exceeded the figures recorded by the second-largest supplier, Viet Nam (X tonnes), sevenfold. The third position in this ranking was occupied by Sri Lanka (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Indonesia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Viet Nam (+X% per year) and Sri Lanka (+X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of cinnamon to the U.S., comprising X% of total imports. The second position in the ranking was occupied by Viet Nam ($X), with a X% share of total imports. It was followed by Sri Lanka, with a X% share.

From 2007 to 2019, the average annual growth rate of value from Indonesia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Viet Nam (+X% per year) and Sri Lanka (+X% per year).

Import Prices by Country

In 2019, the average cinnamon import price amounted to $X per tonne, with an increase of X% against the previous year. In general, the import price saw a strong expansion. The pace of growth was the most pronounced in 2017 an increase of X% year-to-year. Over the period under review, average import prices reached the peak figure in 2019 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 ($X per tonne), while the price for Indonesia ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Viet Nam, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cinnamon (canella) in the world?

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Indonesia (53K tonnes) constituted the country with the largest volume of cinnamon consumption, accounting for 21% of total volume. Moreover, cinnamon consumption in Indonesia exceeded the figures recorded by the second-largest consumer, the U.S. (26K tonnes), twofold. India (23K tonnes) ranked third in terms of total consumption with a 9.2% share.

What are the largest producers of cinnamon (canella) in the world?

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The countries with the highest volumes of cinnamon production in 2019 were Indonesia (90K tonnes), China (83K tonnes) and Viet Nam (41K tonnes), with a combined 88% share of global production.

What are the leading suppliers of cinnamon (canella) to the U.S.?

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In value terms, Indonesia ($78M) constituted the largest supplier of cinnamon to the U.S., comprising 60% of total imports. The second position in the ranking was occupied by Viet Nam ($24M), with a 18% share of total imports. It was followed by Sri Lanka, with a 18% share.

What are the leading importers of cinnamon (canella) from the U.S.?

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In value terms, Canada ($7.1M) remains the key foreign market for cinnamon exports from the U.S., comprising 58% of total exports. The second position in the ranking was occupied by Mexico ($3.1M), with a 25% share of total exports. It was followed by South Korea, with a 2.9% share.

What is the average export price for cinnamon (canella) in the U.S.?

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The average cinnamon export price stood at $5,867 per tonne in 2019, picking up by 4.6% against the previous year.

What is the average import price for cinnamon (canella) in the U.S.?

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The average cinnamon import price stood at $4,579 per tonne in 2019, jumping by 27% against the previous year.