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Nigeria - Cinnamon (Canella) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Cinnamon Market 2024
Cinnamon Market Size in Nigeria
In 2023, the Nigerien cinnamon market decreased by X% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption saw a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.
Cinnamon Exports
Exports from Nigeria
In 2021, the amount of cinnamon (canella) exported from Nigeria reduced markedly to X tons, dropping by X% against the previous year. Over the period under review, exports, however, posted a significant increase. The exports peaked at X tons in 2020, and then contracted markedly in the following year.
In value terms, cinnamon exports contracted notably to $X in 2021. Overall, exports, however, showed significant growth. Over the period under review, the exports attained the peak figure at $X in 2020, and then fell notably in the following year.
Exports by Country
The UK (X tons) was the main destination for cinnamon exports from Nigeria, accounting for a X% share of total exports. Moreover, cinnamon exports to the UK exceeded the volume sent to the second major destination, Sri Lanka (X kg), ninefold.
From 2013 to 2021, the average annual growth rate of volume to the UK totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (X.0% per year) and Switzerland (X% per year).
In value terms, the UK ($X) remains the key foreign market for cinnamon (canella) exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Switzerland ($X), with a X% share of total exports.
From 2013 to 2021, the average annual growth rate of value to the UK amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (X% per year) and Sri Lanka (X.0% per year).
Export Prices by Country
In 2021, the average cinnamon export price amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price showed a pronounced downturn. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Sri Lanka ($X per ton) was amongst the lowest.
From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (X%), while the prices for the other major destinations experienced a decline.
Cinnamon Imports
Imports into Nigeria
In 2023, purchases abroad of cinnamon (canella) decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, imports continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Imports peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.
In value terms, cinnamon imports dropped sharply to $X in 2023. Over the period under review, imports saw a abrupt decrease. The growth pace was the most rapid in 2015 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.
Imports by Country
Vietnam (X tons), China (X tons) and India (X tons) were the main suppliers of cinnamon imports to Nigeria, together accounting for X% of total imports. The United Arab Emirates, Lebanon, Germany, Turkey, Italy and South Africa lagged somewhat behind, together comprising a further X%.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lebanon (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Vietnam ($X), India ($X) and Lebanon ($X) constituted the largest cinnamon suppliers to Nigeria, with a combined X% share of total imports.
Lebanon, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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 2023, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Lebanon ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
This report provides an in-depth analysis of the cinnamon market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 693 - Cinnamon (canella)
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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