Asia: Cinnamon Market 2025

Cinnamon Market Size in Asia

The Asian cinnamon market declined slightly to $X in 2022, which is down by -3.6% against the previous year. Overall, consumption, however, posted a strong expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Cinnamon Production in Asia

In value terms, cinnamon production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of 30% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were China (X tons), Vietnam (X tons) and Indonesia (X tons), with a combined 89% share of total 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 +10.0%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average cinnamon yield in Asia reduced modestly to X kg per ha, waning by -2.3% on the previous year. Overall, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 9.5%. As a result, the yield attained the peak level of X kg per ha. From 2019 to 2022, the growth of the 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 cinnamon harvested area dropped slightly to X ha in 2022, remaining relatively unchanged against 2021. The harvested area increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the harvested area increased by 4.5%. The level of harvested area peaked at X ha in 2021, and then reduced slightly in the following year.

Cinnamon Exports

Exports in Asia

In 2022, the amount of cinnamon (canella) exported in Asia dropped to X tons, falling by -2.8% against the previous year. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -10.6% against 2020 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 29%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, cinnamon exports dropped to $X in 2022. In general, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 35%. The level of export peaked at $X in 2021, and then contracted in the following year.

Exports by Country

China (X tons) and Vietnam (X tons) represented roughly 73% of total exports in 2022. Indonesia (X tons) took the next position in the ranking, followed by Sri Lanka (X tons). All these countries together held near 23% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +13.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Vietnam ($X) and Sri Lanka ($X) constituted the countries with the highest levels of exports in 2022, with a combined 82% share of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +22.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, shrinking by -3.2% against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +6.5% 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 +88.2% against 2012 indices. The pace of growth was the most pronounced in 2021 an increase of 18%. As a result, the export price reached the peak level of $X per ton, and then fell slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while Vietnam ($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 (+16.1%), while the other leaders experienced more modest paces of growth.

Cinnamon Imports

Imports in Asia

In 2022, approx. X tons of cinnamon (canella) were imported in Asia; almost unchanged from 2021. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -4.4% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 26%. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, cinnamon imports contracted to $X in 2022. Overall, imports showed a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 48% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced slightly in the following year.

Imports by Country

In 2022, India (X tons) was the largest importer of cinnamon (canella), making up 34% of total imports. Bangladesh (X tons) held the second position in the ranking, followed by Vietnam (X tons), Pakistan (X tons) and the United Arab Emirates (X tons). All these countries together took approx. 34% share of total imports. The following importers - Saudi Arabia (X tons), Iran (X tons), South Korea (X tons), Turkey (X tons), Japan (X tons), Iraq (X tons), Malaysia (X tons) and Yemen (X tons) - together made up 21% of total imports.

From 2012 to 2022, average annual rates of growth with regard to cinnamon imports into India stood at +10.6%. At the same time, Iraq (+33.1%), Vietnam (+28.0%), Pakistan (+13.5%), Bangladesh (+10.0%), Turkey (+7.7%), Iran (+6.4%), Yemen (+6.3%), Malaysia (+5.5%), Japan (+2.5%), South Korea (+2.4%) and Saudi Arabia (+1.4%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in Asia, with a CAGR of +33.1% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. From 2012 to 2022, the share of Vietnam, India, Pakistan, Bangladesh and Iraq increased by +7.4, +7.3, +2.5, +2 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported cinnamon (canella) in Asia, comprising 32% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 15% share of total imports. It was followed by Bangladesh, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in India totaled +19.4%. In the other countries, the average annual rates were as follows: Vietnam (+50.1% per year) and Bangladesh (+18.0% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, which is down by -4.3% against the previous year. Overall, the import price, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2014 an increase of 20% against the previous year. The level of import peaked at $X per ton in 2021, and then dropped modestly in the following year.

Prices varied noticeably by country of destination: 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 Vietnam (+17.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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