Lithuania: Cinnamon Market 2025

Cinnamon Market Size in Lithuania

The Lithuanian cinnamon market surged to $X in 2022, picking up by 30% 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). Overall, consumption showed a resilient increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cinnamon Exports

Exports from Lithuania

After three years of growth, shipments abroad of cinnamon (canella) decreased by -37.6% to X tons in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 44% against the previous year. The exports peaked at X tons in 2021, and then contracted rapidly in the following year.

In value terms, cinnamon exports dropped rapidly to $X in 2022. Over the period under review, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 87% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted notably in the following year.

Exports by Country

Latvia (X tons) was the main destination for cinnamon exports from Lithuania, accounting for a 60% share of total exports. Moreover, cinnamon exports to Latvia exceeded the volume sent to the second major destination, Estonia (X tons), threefold. Ukraine (X kg) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume to Latvia totaled +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-1.5% per year) and Ukraine (+61.3% per year).

In value terms, Latvia ($X), Estonia ($X) and Ukraine ($X) were the largest markets for cinnamon exported from Lithuania worldwide, together accounting for 87% of total exports.

Ukraine, with a CAGR of +71.1%, recorded the highest growth rate of 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

In 2022, the average cinnamon export price amounted to $X per ton, increasing by 9.3% against the previous year. Over the period under review, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.3% 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 +41.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 31% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Poland ($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 Estonia (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cinnamon Imports

Imports into Lithuania

In 2022, approx. X tons of cinnamon (canella) were imported into Lithuania; approximately mirroring the previous year. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 17%. Over the period under review, imports attained the maximum at X tons in 2021, and then reduced slightly in the following year.

In value terms, cinnamon imports skyrocketed to $X in 2022. In general, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 37%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest cinnamon supplier to Lithuania, with a 72% share of total imports. Moreover, cinnamon imports from Vietnam exceeded the figures recorded by the second-largest supplier, Estonia (X tons), more than tenfold. The third position in this ranking was held by Latvia (X tons), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam amounted to +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+13.2% per year) and Latvia (+13.9% per year).

In value terms, Vietnam ($X), Estonia ($X) and Germany ($X) appeared to be the largest cinnamon suppliers to Lithuania, with a combined 72% share of total imports. Latvia, the Netherlands, Sweden and Poland lagged somewhat behind, together comprising a further 18%.

Sweden, with a CAGR of +36.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cinnamon import price stood at $X per ton in 2022, surging by 17% against the previous year. In general, the import price enjoyed a strong expansion. The pace of growth was the most pronounced in 2020 an increase of 36% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Estonia ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform