EU: Cinnamon Market 2024

Cinnamon Market Size in the EU

In 2022, after two years of growth, there was decline in the EU cinnamon market, when its value decreased by -0.5% to $X. Overall, consumption continues to indicate a strong increase. Over the period under review, the market reached the maximum level at $X in 2021, and then fell in the following year.

Cinnamon Production in the EU

In value terms, cinnamon production totaled $X in 2022 estimated in export price. Over the period under review, production posted a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 1,187,187,100%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were the Netherlands (X kg) and Estonia (X kg).

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by the Netherlands (with a CAGR of 0.0%).

Cinnamon Exports

Exports in the EU

After two years of growth, shipments abroad of cinnamon (canella) decreased by -12.8% to X tons in 2022. Total exports indicated a measured expansion from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2016 when exports increased by 41% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, cinnamon exports reduced to $X in 2022. Overall, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 31% against the previous year. The level of export peaked at $X in 2021, and then contracted in the following year.

Exports by Country

The Netherlands was the largest exporting country with an export of around X tons, which amounted to 37% of total exports. It was distantly followed by Germany (X tons), Spain (X tons), France (X tons) and Poland (X tons), together creating a 42% share of total exports. Austria (X tons), the Czech Republic (X tons), Latvia (X tons), Estonia (X tons) and Italy (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Latvia (with a CAGR of +32.7%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and France ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 61% of total exports. Poland, Austria, Spain, the Czech Republic, Estonia, Italy and Latvia lagged somewhat behind, together comprising a further 29%.

Latvia, with a CAGR of +27.2%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries 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 the European Union amounted to $X per ton, falling by -2% against the previous year. Export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.9% 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 +84.1% against 2016 indices. The pace of growth was the most pronounced in 2018 an increase of 23% against the previous year. The level of export peaked at $X per ton in 2021, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.0%), while the other leaders experienced more modest paces of growth.

Cinnamon Imports

Imports in the EU

After two years of growth, purchases abroad of cinnamon (canella) decreased by -5.5% to X tons in 2022. The total import volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 35% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, cinnamon imports fell to $X in 2022. Over the period under review, imports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2014 when imports increased by 41% against the previous year. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

The Netherlands (X tons) and Germany (X tons) represented roughly 46% of total imports in 2022. Spain (X tons) ranks next in terms of the total imports with a 9.2% share, followed by Poland (7.7%) and France (6.7%). The Czech Republic (X tons), Sweden (X tons), Austria (X tons), Italy (X tons), Portugal (X tons), Greece (X tons), Denmark (X tons) and Hungary (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Poland (with a CAGR of +9.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cinnamon importing markets in the European Union were Germany ($X), the Netherlands ($X) and Spain ($X), with a combined 49% share of total imports. Poland, France, Sweden, Portugal, Italy, the Czech Republic, Austria, Denmark, Greece and Hungary lagged somewhat behind, together accounting for a further 41%.

Poland, with a CAGR of +20.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, approximately equating the previous year. In general, the import price, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2018 an increase of 22%. The level of import peaked at $X per ton in 2021, and then dropped slightly 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 Portugal ($X per ton), while Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+11.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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