U.S.: Cinnamon Market 2022

Cinnamon Market Size in the U.S.

For the third year in a row, the U.S. cinnamon market recorded growth in sales value, which increased by X% to $X in 2021. In general, consumption continues to indicate resilient growth. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in the near future.

Cinnamon Exports

Exports from the U.S.

In 2021, the amount of cinnamon (canella) exported from the United States expanded markedly to X tonnes, with an increase of X% compared with 2020. Over the period under review, total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% year-to-year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, cinnamon exports soared to $X in 2021. Overall, exports continue to indicate a strong increase. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

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

From 2012 to 2021, 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 ($X) remains the key foreign market for cinnamon exports from the United States, comprising X% of total exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada stood at +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

In 2021, the average cinnamon export price amounted to $X per tonne, picking up by X% against the previous year. In general, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cinnamon export price increased by +X% against 2013 indices. The growth pace was the most rapid in 2014 when the average export price increased by X% y-o-y. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably for the major external markets. In 2021, the countries with the highest prices were Canada ($X per tonne) and Mexico ($X per tonne), while the average price for exports to South Korea ($X per tonne) and Taiwan (Chinese) ($X per tonne) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Cinnamon Imports

Imports into the U.S.

For the third year in a row, the United States recorded growth in overseas purchases of cinnamon (canella), which increased by X% to X tonnes in 2021. The total import volume increased at an average annual rate of +X% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% year-to-year. As a result, imports attained the peak of X tonnes. From 2018 to 2021, the growth imports remained at a somewhat lower figure.

In value terms, cinnamon imports skyrocketed to $X in 2021. Overall, imports posted a strong increase. The pace of growth was the most pronounced in 2017 with an increase of X% y-o-y. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

Indonesia (X tonnes), Vietnam (X tonnes) and Sri Lanka (X tonnes) were the main suppliers of cinnamon imports to the United States, together accounting for X% of total imports.

From 2012 to 2021, the biggest increases were in Vietnam (+X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Sri Lanka ($X) were the largest cinnamon suppliers to the United States, with a combined X% share of total imports.

Among the main suppliers, Vietnam, with a CAGR of +X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cinnamon import price stood at $X per tonne in 2021, growing by X% against the previous year. In general, the import price showed strong growth. The pace of growth was the most pronounced in 2017 an increase of X% y-o-y. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Sri Lanka ($X per tonne), while the price for Vietnam ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform