Key findings and insights into the global cinnamon market
Indexbox - May 13th, 14:51
The global cinnamon market revenue amounted to $703M in 2017 (IndexBox estimates), growing by 13% 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 a strong increase. The most prominent rate of growth was recorded in 2011 when market value increased by 24% against the previous year. Over the period under review, the global cinnamon market reached its maximum level in 2017 and is likely to continue its growth in the immediate term.
In 2017, approx. 212K tonnes of cinnamon (canella) were consumed worldwide; coming down by -5.1% against the previous year. The total consumption volume increased an average annual rate of +1.1% over the period from 2007 to 2017; the trend pattern remained relatively stable, with only minor fluctuations over the period under review.
Consumption by Country
The countries with the highest volumes of cinnamon consumption in 2017 were Indonesia (37K tonnes), the U.S. (32K tonnes) and India (26K tonnes), together accounting for 45% of global consumption.
From 2007 to 2017, the most notable rate of growth in terms of cinnamon consumption, amongst the main consuming countries, was attained by India (+9.1% per year), while the other global leaders experienced more modest paces of growth.
Market Forecast to 2025
Driven by increasing demand for cinnamon worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.9% for the eight-year period from 2017 to 2025, which is projected to bring the market volume to 246K tonnes by the end of 2025.
Global Production by Country
In 2017, approx. 235K tonnes of cinnamon (canella) were produced worldwide; coming up by 1.7% against the previous year. The total output volume increased an average annual rate of +1.5% from 2007 to 2017; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The generally positive trend in terms of cinnamon output was largely conditioned by a modest increase of the harvested area and a mild curtailment in yield figures.
The countries with the highest volumes of cinnamon production in 2017 were Indonesia (87K tonnes), China (79K tonnes) and Viet Nam (37K tonnes), together accounting for 87% of global production. These countries were followed by Sri Lanka, which accounted for a further 9.4%.
From 2007 to 2017, the most notable rate of growth in terms of cinnamon production, amongst the main producing countries, was attained by Sri Lanka (+5.2% per year), while the other global leaders experienced more modest paces of growth.
Imports from 2007–2017
In 2017, the global imports of cinnamon (canella) totaled 170K tonnes, rising by 8.1% against the previous year. The total import volume increased an average annual rate of +3.9% from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations over the period under review. Over the period under review, the global cinnamon imports reached its peak figure volume of 174K tonnes in 2014; however, from 2015 to 2017, it failed to regain its momentum.
In 2017, the U.S. (34K tonnes) and India (28K tonnes) represented the largest importers of cinnamon (canella) in the globe, together committing 36% of total imports. It was distantly followed by Mexico (8.2K tonnes), creating a 4.8% share of total imports. The Netherlands (7.4K tonnes), Bangladesh (6.7K tonnes), Saudi Arabia (5.2K tonnes), Pakistan (5K tonnes), the United Arab Emirates (4.9K tonnes), Germany (4.8K tonnes), Iran (3.7K tonnes) and Brazil (3.1K tonnes) followed a long way behind the leaders.
From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by India (+8.3% per year), while the other global leaders experienced more modest paces of growth.
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