South Africa: Cinnamon Market 2024

Cinnamon Market Size in South Africa

The South African cinnamon market was estimated at $X in 2022, picking up by 12% 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). Over the period under review, consumption saw a buoyant expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Cinnamon Exports

Exports from South Africa

In 2022, after two years of growth, there was significant decline in overseas shipments of cinnamon (canella), when their volume decreased by -7.7% to X tons. Overall, exports, however, recorded a notable increase. The pace of growth was the most pronounced in 2013 with an increase of 57%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, cinnamon exports fell dramatically to $X in 2022. Over the period under review, exports recorded a mild setback. The pace of growth was the most pronounced in 2017 when exports increased by 49% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Zimbabwe (X tons), Botswana (X tons) and Zambia (X tons) were the main destinations of cinnamon exports from South Africa, together comprising 50% of total exports. Swaziland, Namibia, Australia, Lesotho, Kenya, Mozambique, Solomon Islands, the United States and Angola lagged somewhat behind, together comprising a further 46%.

From 2012 to 2022, the biggest increases were recorded for Kenya (with a CAGR of +46.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Botswana ($X), Zambia ($X) and Zimbabwe ($X) appeared to be the largest markets for cinnamon exported from South Africa worldwide, with a combined 56% share of total exports.

Among the main countries of destination, Botswana, with a CAGR of +33.9%, saw the highest rates of growth with regard to 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

The average cinnamon export price stood at $X per ton in 2022, shrinking by -23.2% against the previous year. Overall, the export price saw a noticeable descent. The pace of growth appeared the most rapid in 2018 an increase of 30%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Botswana ($X per ton), while the average price for exports to Kenya ($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 Botswana (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Cinnamon Imports

Imports into South Africa

Cinnamon imports into South Africa was estimated at X tons in 2022, picking up by 14% on the previous year. Over the period under review, total imports indicated a moderate expansion from 2012 to 2022: its volume 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, imports decreased by -7.0% against 2020 indices. The growth pace was the most rapid in 2014 when imports increased by 18% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, cinnamon imports rose sharply to $X in 2022. Overall, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2015 when imports increased by 37%. Over the period under review, imports attained the peak figure at $X in 2020; afterwards, it flattened through to 2022.

Imports by Country

Vietnam (X tons), China (X tons) and India (X tons) were the main suppliers of cinnamon imports to South Africa, with a combined 83% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +28.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), China ($X) and India ($X) constituted the largest cinnamon suppliers to South Africa, together comprising 80% of total imports.

India, with a CAGR of +34.4%, recorded the highest rates of growth with regard to 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

In 2022, the average cinnamon import price amounted to $X per ton, dropping by -3.2% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +6.9% 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 +94.8% against 2012 indices. The growth pace was the most rapid in 2015 an increase of 17% against the previous year. The import price 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 supplying countries. In 2022, amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while the price for Singapore ($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 (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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