CIS: Cinnamon Market 2025

Cinnamon Market Size in CIS

After ten years of growth, the CIS cinnamon market decreased by -2.7% to $X in 2022. Over the period under review, consumption showed strong growth. Over the period under review, the market hit record highs at $X in 2021, and then reduced slightly in the following year.

Cinnamon Production in CIS

In value terms, cinnamon production expanded modestly to $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.7% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 31% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of cinnamon production was Kyrgyzstan (X tons), accounting for 100% of total volume.

In Kyrgyzstan, cinnamon production increased at an average annual rate of +1.6% over the period from 2012-2022.

Cinnamon Exports

Exports in CIS

For the fifth consecutive year, the CIS recorded growth in shipments abroad of cinnamon (canella), which increased by 19% to X tons in 2022. Overall, exports recorded a prominent expansion. The growth pace was the most rapid in 2015 with an increase of 130%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, cinnamon exports soared to $X in 2022. Over the period under review, exports showed a buoyant expansion. The growth pace was the most rapid in 2015 when exports increased by 154% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

Russia represented the key exporter of cinnamon (canella) in the CIS, with the volume of exports recording X tons, which was approx. 81% of total exports in 2022. It was distantly followed by Armenia (X tons), making up a 17% share of total exports. Belarus (X tons) held a relatively small share of total exports.

Exports from Russia increased at an average annual rate of +9.9% from 2012 to 2022. At the same time, Armenia (+186.8%) and Belarus (+86.3%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +186.8% from 2012-2022. Armenia (+17 p.p.) and Belarus (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -18.8% from 2012 to 2022, respectively.

In value terms, Russia ($X) remains the largest cinnamon supplier in the CIS, comprising 68% of total exports. The second position in the ranking was taken by Armenia ($X), with a 31% share of total exports.

In Russia, cinnamon exports expanded at an average annual rate of +10.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Armenia (+149.5% per year) and Belarus (+58.1% per year).

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, picking up by 22% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2014 an increase of 25%. Over the period under review, the export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Armenia ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+0.8%), while the other leaders experienced a decline in the export price figures.

Cinnamon Imports

Imports in CIS

Cinnamon imports rose significantly to X tons in 2022, growing by 6% against 2021 figures. Overall, imports showed a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 64% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, cinnamon imports contracted slightly to $X in 2022. In general, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 38%. Over the period under review, imports reached the peak figure at $X in 2021, and then declined modestly in the following year.

Imports by Country

Russia dominates imports structure, resulting at X tons, which was approx. 77% of total imports in 2022. Azerbaijan (X tons) held a 6.7% share (based on physical terms) of total imports, which put it in second place, followed by Kazakhstan (5.6%) and Belarus (4.9%). The following importers - Uzbekistan (X tons) and Armenia (X tons) - each resulted at a 4% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cinnamon imports into Russia stood at +12.1%. At the same time, Uzbekistan (+63.1%), Azerbaijan (+63.1%), Kazakhstan (+19.1%) and Armenia (+16.6%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +63.1% from 2012-2022. Belarus experienced a relatively flat trend pattern. Azerbaijan (+6.5 p.p.), Kazakhstan (+2.5 p.p.) and Uzbekistan (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Belarus saw its share reduced by -11.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported cinnamon (canella) in the CIS, comprising 79% of total imports. The second position in the ranking was taken by Azerbaijan ($X), with a 6.2% share of total imports. It was followed by Kazakhstan, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value in Russia stood at +14.8%. In the other countries, the average annual rates were as follows: Azerbaijan (+80.2% per year) and Kazakhstan (+17.9% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, falling by -7.5% against the previous year. Import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.2% 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 +78.8% against 2014 indices. The growth pace was the most rapid in 2017 when the import price increased by 29%. The level of import peaked at $X per ton in 2021, and then contracted 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 Armenia ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+10.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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