Cinnamon Market in Honduras
Market Overview
The Honduran cinnamon market declined to $
in , waning by -% 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, however, posted a prominent increase. Cinnamon consumption peaked at $ in , and then fell in the following year.
in , waning by -% 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, however, posted a prominent increase. Cinnamon consumption peaked at $ in , and then fell in the following year.Consumption
In , approx. tons of cinnamon (canella) were consumed in Honduras; with a decrease of -% on figures. In general, consumption, however, recorded a strong expansion. Cinnamon consumption peaked at tons in 2018; however, from 2019 to , consumption failed to regain momentum.
The size of the cinnamon market in Honduras fell to $ in , which is down by -% 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, however, continues to indicate strong growth. Cinnamon consumption peaked at $ in , and then fell in the following year.
, approx. tons of cinnamon (canella) were consumed in Honduras; with a decrease of -% on figures. In general, consumption, however, recorded a strong expansion. Cinnamon consumption peaked at tons in 2018; however, from 2019 to , consumption failed to regain momentum.The size of the cinnamon market in Honduras fell to $
in , which is down by -% 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, however, continues to indicate strong growth. Cinnamon consumption peaked at $ in , and then fell in the following year.Market Forecast
Driven by increasing demand for cinnamon (canella) in Honduras, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Cinnamon market in Honduras consists almost entirely of imported products. In recent years, import price have increased sharply. Despite the hike in price, Honduras relies completely on foreign supplies: the volume of domestic output remains insufficient to satiate market demand.
Trade Balance
Honduras remains a net importer of cinnamon; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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