1. The overview situation
The European cinnamon market continues to show opportunities for exporters from developing countries to do business. Imports quantity and prices will continue to increase in the coming years. In addition, Cinnamon from Vietnam is more and more consumed by European consumer.
Imports of cinnamon remained stable in recent years. Moreover, when prices rise imported quantity does not drop. Cinnamon is a minor but important ingredient for European cuisine.
Between 2013 and 2017, the volume of European imports increased by 6% per year. In the same period, the value of imports increased by 19% per year. This indicates a strong price increase.
The Netherlands, Germany and the United Kingdom accounted for high shares of cinnamon from developing countries (49–93% of total imports). Therefore, these countries offer good opportunities for exporters of cinnamon.
Most European countries increased cinnamon imports from 2013 to 2017. Exceptions are the United Kingdom and smaller importers Greece, Iceland and Finland.
In 2017, 44% of European imports from developing countries consisted of ‘other’ whole cinnamon, 27% was Ceylon cinnamon and the remaining 29% was crushed/ground cinnamon.
The figure2 shows that Indonesia is the top cinnamon exporter in 2007 while Vietnam is a second biggest exporter for “other cinnamon, whole” and “crushed/ground cinnamon”. This analysis proves that cinnamon from Vietnam has been very popular in the European market.
3. Market trends
- Internationalization of eating habits: cinnamon is commonly used in foods and beverages throughout Europe, e.g. in bakery products, cereals, sweets, tea and curries. In Europe, a large South Asian community uses cinnamon in its cuisine. This community (most notably in Western Europe) is still growing steadily, also in other regions. Therefore, demand in these segments is likely to increase.
- Sustainability is on the rise: sustainable sourcing is an important trend in Europe, especially in the United Kingdom, the Netherlands and Germany. Important issues in the supply chain are child labour, healthy and safe working conditions and loss of biodiversity. As a supplier, you will be increasingly faced with sustainability requirements from your buyer. Although sustainable cinnamon is still a niche market, demand for products certified for compliance with sustainability standards is increasing
The European market is very strict but it still provides many opportunities for developing country such as Vietnam. The market will keep growing in the future with new trends. Therefore, our company-Aimex Co., Ltd always pay more attention to market research to meet the demand of customers. Please do not hesitate to contact us for more information of cinnamon as well as get a quick quotation of the cinnamon from Vietnam