Bangladesh: Cinnamon Market 2025

Cinnamon Market Size in Bangladesh

The Bangladeshi cinnamon market fell to $X in 2022, dropping by -14.5% 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, consumption, however, saw a resilient increase. Over the period under review, the market reached the maximum level at $X in 2021, and then fell in the following year.

Cinnamon Exports

Exports from Bangladesh

In 2022, cinnamon exports from Bangladesh reduced slightly to X tons, with a decrease of -3.2% against 2021 figures. In general, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 147% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, cinnamon exports declined to $X in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 238% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

South Africa (X tons), the UK (X tons) and Singapore (X tons) were the main destinations of cinnamon exports from Bangladesh, with a combined 50% share of total exports. The United States, Australia, Greece, Cyprus, Italy, Canada and Brunei Darussalam lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Greece (with a CAGR of +81.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cinnamon exported from Bangladesh were the United States ($X), South Africa ($X) and the UK ($X), together accounting for 52% of total exports. Singapore, Australia, Canada, Cyprus, Italy, Greece and Brunei Darussalam lagged somewhat behind, together comprising a further 26%.

Greece, with a CAGR of +53.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cinnamon export price stood at $X per ton in 2022, dropping by -5.1% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.6% 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 decreased by -14.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 89%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cinnamon Imports

Imports into Bangladesh

In 2022, after three years of growth, there was significant decline in supplies from abroad of cinnamon (canella), when their volume decreased by -13.9% to X tons. Overall, imports, however, saw buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 41%. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, cinnamon imports declined to $X in 2022. Over the period under review, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2014 when imports increased by 105% against the previous year. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of cinnamon to Bangladesh, accounting for a approx. 82% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +12.8%.

In value terms, China ($X) constituted the largest supplier of cinnamon (canella) to Bangladesh.

From 2012 to 2022, the average annual growth rate of value from China totaled +20.2%.

Import Prices by Country

In 2022, the average cinnamon import price amounted to $X per ton, remaining stable against the previous year. In general, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +7.3% 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 decreased by -15.5% against 2019 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by 56% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for Vietnam amounted to +8.4% per year.

Source: IndexBox Platform

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