
Vietnam’s Cinnamon Industry: Growing Sustainably with Global Trade Deals
As the world’s largest cinnamon supplier and producer, Vietnam continues to dominate the global market with high-quality cinnamon products. Leveraging trade agreements like the UK-Vietnam Free Trade Agreement (UKVFTA), Vietnam’s cinnamon industry is expanding its reach and solidifying its position as a key player in the international spice trade.
Why Choose Vietnam as Your Cinnamon Supplier?
Vietnam boasts a plantation area of 180,000 hectares, making it the top cinnamon supplier globally. The country exported nearly 90,000 tons of cinnamon worth $260 million in 2023, accounting for 34.4% of the global cinnamon market.
Unparalleled Quality and Applications
Vietnamese cinnamon is renowned for its high oil content, rich aroma, and versatility. It is used in various industries, including:
- Food and Beverage: Enhancing flavor in culinary creations.
- Pharmaceuticals: As a natural remedy with anti-inflammatory properties.
- Cosmetics and Wellness: In beauty products and health supplements.
Key Export Markets
Vietnamese cinnamon is exported to over 100 countries, with top markets including:
- India: Leading with 35.3% of exports.
- The US: Representing 10.9% of exports.
- The EU and UK: Rapidly growing markets due to competitive advantages provided by the UKVFTA.
Vietnam’s Strategic Use of Trade Agreements
With 16 Free Trade Agreements (FTAs), including the UKVFTA, EVFTA, and CPTPP, Vietnam’s cinnamon industry benefits from reduced tariffs, giving its products a competitive edge in global markets.
For example:
- The UKVFTA has eliminated tariffs on 85.6% of Vietnamese products, with 99.2% set to enjoy zero tariffs by 2027.
- Exports to the UK grew by 94.4% in early 2024, showcasing Vietnam’s ability to capitalize on these agreements.
Meeting Market Demands as a Leading Cinnamon Supplier
The global demand for sustainable and traceable products has increased. Vietnam’s cinnamon industry is adapting to these requirements by:
- Focusing on Sustainability: Encouraging eco-friendly farming practices.
- Enhancing Traceability: Implementing advanced technologies for tracking origin and ensuring quality.
- Expanding Value-Added Products: Increasing the production of processed cinnamon for higher market appeal.
Building a Sustainable Cinnamon Ecosystem
To maintain its position as a top cinnamon supplier, Vietnam is investing in:
- Farmer Support: Providing training and preferential loans for sustainable farming.
- Technological Innovation: Applying digital solutions for production management.
- Brand Development: Promoting Vietnamese cinnamon on the global stage through trade fairs and marketing campaigns.
Deputy Director Nguyễn Đình Chiến of Yên Bái Province emphasized the importance of creating a robust cinnamon ecosystem. This will ensure sustainable exports, higher added value, and long-term competitiveness in international markets.
VietGlobal Export: Your Reliable Cinnamon Supplier
As a trusted cinnamon supplier, VietGlobal Export delivers premium Vietnamese cinnamon to clients worldwide. Our products meet the highest quality standards, catering to diverse industries and market demands.
🌿 Partner with VietGlobal Export Today!
Looking for a reliable cinnamon supplier? Contact us now to discover the finest Vietnamese cinnamon for your needs. Let’s grow together! 🌏