Sri Lanka: Albumins And Albuminates Market 2024

Albumins And Albuminates Market Size in Sri Lanka

The Sri Lankan albumins and albuminates market soared to $X in 2021, surging by 118% 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). In general, consumption recorded a significant expansion. Albumins and albuminates consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Albumins And Albuminates Exports

Exports from Sri Lanka

In 2021, overseas shipments of albumins, albuminates and other derivatives (excluding egg albumin) increased by 145% to X tons, rising for the second consecutive year after three years of decline. Overall, exports saw a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 1,266%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, albumins and albuminates exports surged to $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2020 with an increase of 3,721% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Maldives (X tons) was the main destination for albumins and albuminates exports from Sri Lanka, with a 84% share of total exports. Moreover, albumins and albuminates exports to Maldives exceeded the volume sent to the second major destination, Canada (X kg), fivefold.

From 2012 to 2021, the average annual growth rate of volume to Maldives stood at +45.5%.

In value terms, Maldives ($X) emerged as the key foreign market for albumins, albuminates and other derivatives (excluding egg albumin) exports from Sri Lanka, comprising 75% of total exports. The second position in the ranking was held by Canada ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Maldives amounted to +57.2%.

Export Prices by Country

In 2021, the average albumins and albuminates export price amounted to $X per ton, declining by -20% against the previous year. In general, the export price, however, recorded a resilient expansion. The growth pace was the most rapid in 2020 an increase of 178%. As a result, the export price reached the peak level of $X per ton, and then reduced remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Maldives amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Seychelles (+51.8%), while the prices for the other major destinations experienced more modest paces of growth.

Albumins And Albuminates Imports

Imports into Sri Lanka

Albumins and albuminates imports into Sri Lanka surged to X tons in 2021, picking up by 73% compared with 2020. Over the period under review, imports saw strong growth. The growth pace was the most rapid in 2017 with an increase of 411% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, albumins and albuminates imports surged to $X in 2021. In general, imports continue to indicate significant growth. The growth pace was the most rapid in 2017 when imports increased by 270% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Myanmar (X tons) constituted the largest albumins and albuminates supplier to Sri Lanka, accounting for a 21% share of total imports. Moreover, albumins and albuminates imports from Myanmar exceeded the figures recorded by the second-largest supplier, the United States (X kg), threefold. Germany (X kg) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Myanmar stood at +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+17.7% per year) and Germany (+38.1% per year).

In value terms, Germany ($X), Denmark ($X) and the United States ($X) appeared to be the largest albumins and albuminates suppliers to Sri Lanka, together accounting for 16% of total imports. Ireland, Thailand, France, Myanmar and the UK lagged somewhat behind, together comprising a further 13%.

Ireland, with a CAGR of +136.3%, saw the highest rates of growth with regard to 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 albumins and albuminates import price stood at $X per ton in 2021, picking up by 44% against the previous year. In general, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, albumins and albuminates import price increased by +89.7% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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