Global Cinnamon Market 2024

Cinnamon Market Size

The global cinnamon market rose rapidly to $X in 2022, with an increase of X% against the previous year. In general, the total consumption indicated a prominent expansion 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, consumption increased by X% against 2020 indices. Global consumption peaked in 2022 and is likely to continue growth in the immediate term.

Cinnamon Production

In value terms, cinnamon production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, saw resilient growth. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, global production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were China (X tons), Indonesia (X tons) and Vietnam (X tons), with a combined X% share of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Vietnam (with a CAGR of X%), while production for the other global leaders experienced more modest paces of growth.

In 2022, the global average yield of cinnamon (canella) reached X kg per ha, flattening at the year before. Over the period under review, the yield, however, recorded a slight shrinkage. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, the yield reached the peak level of X kg per ha. From 2019 to 2022, the growth of the average cinnamon yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The global cinnamon harvested area dropped slightly to X ha in 2022, almost unchanged from the previous year. 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 being observed in certain years. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The global harvested area peaked at X ha in 2021, and then shrank modestly in the following year.

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Cinnamon Exports

Exports

After two years of growth, shipments abroad of cinnamon (canella) decreased by X% to X tons in 2022. In general, total exports indicated a prominent increase from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the global exports reached the peak figure at X tons in 2021, and then shrank modestly in the following year.

In value terms, cinnamon exports dropped modestly to $X in 2022. Overall, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of X%. The global exports peaked at $X in 2021, and then dropped modestly in the following year.

Exports by Country

In 2022, China (X tons) and Vietnam (X tons) represented the major exporters of cinnamon (canella)in the world, together reaching approx. X% of total exports. Indonesia (X tons) ranks next in terms of the total exports with a X% share, followed by Sri Lanka (X%). The United Arab Emirates (X tons), the Netherlands (X tons) and the United States (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest cinnamon supplying countries worldwide were China ($X), Vietnam ($X) and Sri Lanka ($X), together comprising X% of global exports. Indonesia, the Netherlands, the United States and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average cinnamon export price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, export price indicated a prominent 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 2013 indices. The pace of growth was the most pronounced in 2019 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then fell slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Cinnamon Imports

Imports

In 2022, approx. X tons of cinnamon (canella) were imported worldwide; increasing by X% against the year before. In general, total imports indicated a strong expansion from 2012 to 2022: its volume 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, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Global imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, cinnamon imports reached $X in 2022. Over the period under review, imports showed a strong increase. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

India (X tons) and the United States (X tons) were the major importers of cinnamon (canella) in 2022, accounting for approx. X% and X% of total imports, respectively. Mexico (X tons) held the next position in the ranking, followed by Bangladesh (X tons). All these countries together took approx. X% share of total imports. Vietnam (X tons), the United Arab Emirates (X tons), Pakistan (X tons), the Netherlands (X tons), Iran (X tons), Germany (X tons) and Saudi Arabia (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest cinnamon importing markets worldwide were the United States ($X), India ($X) and Mexico ($X), together accounting for X% of global imports. Vietnam, Bangladesh, the Netherlands, Germany, the United Arab Emirates, Saudi Arabia, Pakistan and Iran lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

In 2022, the average cinnamon import price amounted to $X per ton, standing approx. at the previous year. In general, import price indicated strong growth 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 2013 indices. The pace of growth was the most pronounced in 2018 when the average import price increased by X%. Global import price peaked at $X per ton in 2021, and then reduced slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Pakistan ($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 global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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