IndexBox, Inc. has just published a new report “World – Cinnamon (Canella) – Market Analysis, Forecast, Size, Trends and Insights“. Here is a summary of the report’s key findings.
In 2017, cinnamon imports worldwide stood at 158K tonnes, moving up by 5% against the previous year level. The total import volume increased at an average annual rate of +3.5% from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations over the period under review. The most prominent rate of growth was recorded in 2013, when import increased by 17% against the previous year level. Global import peaked of 162K tonnes in 2014; however, from 2015 to 2017, it stood at a somewhat lower level.
In value terms, cinnamon imports amounted to $525M in 2017. In general, cinnamon imports continue to indicate a prominent growth. Global import peaked in 2017, and are expected to retain its growth in the near future.
Cinnamon Imports By Country
India (28K tonnes), and the U.S. (26K tonnes) represented the major importers of cinnamon (canella) in 2017, reaching approx. 18%, and 17% of total imports, respectively. It was distantly followed by Bangladesh (12K tonnes), and Mexico (7.8K tonnes), together mixed up 13% share of total imports. The following importers – the Netherlands (6K tonnes), the United Arab Emirates (4.9K tonnes), Germany (4.5K tonnes), Saudi Arabia (4.3K tonnes), Pakistan (2.9K tonnes), Brazil (2.7K tonnes), South Korea (2.6K tonnes), and the UK (2.5K tonnes) together made up 19% of total imports.
From 2007 to 2017, the most notable growth rate of imports, among the main importing countries, was attained by Bangladesh (+11.7% per year), while the other global leaders experienced more modest paces of growth.
In value terms, the largest cinnamon markets worldwide were Mexico ($91M), the U.S. ($85M), and India ($63M), with a combined 46% share of global imports.
India (+19.6% per year) experienced the highest growth rate of imports, in terms of the main importing countries, over the last 10 years, while the other global leaders experienced more modest paces of growth.
Cinnamon Import Prices By Country
In 2017, the average import price for cinnamon (canella) amounted to $3,322 per tonne, moving up by 8% against the previous year. Overall, it indicated a remarkable growth from 2007 to 2017: the import price increased at an average annual rate of +6.6% over the last ten years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2017, cinnamon import price increased by +89.9% against its level of 2009. The growth pace was the most rapid in 2012, when import price increased by 14% year-to-year. Over the period under review, average import price for cinnamon attained its maximum level in 2017, and is expected to retain its growth in the immediate term.
There were significant differences in the average import prices amongst major importing countries. In 2017, the country with the highest import price was Mexico ($12 per kg), while Bangladesh ($970 per tonne) was among the lowest.
From 2007 to 2017, the most notable growth rate of import prices was attained by the Netherlands (+12.0% per year), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global cinnamon market. 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 2025.
Browse Related Reports
Download a free sample of the report now!