Vietnamese cinnamon is gaining popularity in overseas markets and will soon likely to contribute up to 50% of the overall market share for cinnamon in Canada.
In 2022, major supermarket chains in Canada such as Costco and Walmart imported US$8.6 million worth of Vietnamese cinnamon, up 43.3% year-on-year.
Vietnam was estimated to earn US$276 million from cinnamon exports alone, more than 12% increase from 2021, according to statistics from the Ministry of Agriculture and Rural Development (MARD).
Vietnam currently ranks 3rd globally in terms of cinnamon production behind Indonesia and China with nearly 170,000 hectares producing an annual output of 900,000 to 1.2 million tons.
According to several sources, Vietnamese cinnamon, also known as cassia, has the highest oil content of all cinnamons, as such it is believed to be spicy and has a very strong aroma. It also has multiple uses from cooking (food) to food and beverage flavoring, medicine to cosmetics.