U.S. - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights

U.S.: Cinnamon Market Overview 2020

Cinnamon Market Size in the U.S.

The revenue of the cinnamon market in the U.S. amounted to $X in 2018, rising 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). In general, cinnamon consumption continues to indicate remarkable growth. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the cinnamon market reached its peak figure level in 2018 and is expected to retain its growth in the near future.

Cinnamon Exports

Exports from the U.S.

In 2018, approx. X tonnes of cinnamon (canella) were exported from the U.S.; growing by X% against the previous year. Over the period under review, the total exports indicated a strong expansion from 2007 to 2018: its volume increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, cinnamon exports increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% y-o-y. Over the period under review, cinnamon exports reached their maximum in 2018 and are likely to see steady growth in the near future.

In value terms, cinnamon exports stood at $X in 2018. Overall, cinnamon exports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of X% y-o-y. Over the period under review, cinnamon exports attained their maximum in 2018 and are expected to retain its growth in the near future.

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. Panama (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2018, the average annual growth rate of volume 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 Panama (+X% per year).

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

From 2007 to 2018, 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 Panama (+X% per year).

Export Prices by Country

In 2018, the average cinnamon export price amounted to $X per tonne, going up by X% against the previous year. Overall, the export price indicated resilient growth from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, cinnamon export price increased by +X% against 2010 indices. The most prominent rate of growth was recorded in 2011 when the average export price increased by X% year-to-year. The export price peaked in 2018 and is likely to continue its growth in the near future.

Prices varied noticeably by the country of destination; the country with the highest price was South Korea ($X per tonne), while the average price for exports to the Dominican Republic ($X per tonne) was amongst the lowest.

From 2007 to 2018, 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.

Cinnamon imports into the U.S. totaled X tonnes in 2018, increasing by X% against the previous year. Over the period under review, the total imports indicated a buoyant increase from 2007 to 2018: its volume increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, cinnamon imports increased by +X% against 2015 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% year-to-year. Over the period under review, cinnamon imports reached their maximum in 2018 and are likely to continue its growth in the near future.

In value terms, cinnamon imports totaled $X in 2018. Over the period under review, cinnamon imports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2017 when imports increased by X% y-o-y. Imports peaked in 2018 and are expected to retain its growth in the immediate term.

Imports by Country

In 2018, Indonesia (X tonnes) constituted the largest supplier of cinnamon to the U.S., with a X% share of total imports. Moreover, cinnamon imports from Indonesia exceeded the figures recorded by the second-largest supplier, Viet Nam (X tonnes), fourfold.

From 2007 to 2018, the average annual growth rate of volume from Indonesia stood at +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 ($X) constituted the largest supplier of cinnamon to the U.S., comprising X% of total cinnamon imports. The second position in the ranking was occupied by Sri Lanka ($X), with a X% share of total imports.

From 2007 to 2018, the average annual growth rate of value from Indonesia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+X% per year) and Viet Nam (+X% per year).

Import Prices by Country

In 2018, the average cinnamon import price amounted to $X per tonne, lowering by -X% against the previous year. Over the period under review, the cinnamon import price, however, continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. In that year, the average import prices for cinnamon (canella) reached their peak level of $X per tonne, and then declined slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2018, 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 2018, the most notable rate of growth in terms of prices was attained by Indonesia, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform