Sri Lanka: Artificial Fur Market 2025

Artificial Fur Market Size in Sri Lanka

In 2022, the Sri Lankan artificial fur market decreased by -89.7% to $X, falling for the second year in a row after two years of growth. Overall, consumption saw a deep contraction. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Artificial Fur Exports

Exports from Sri Lanka

Artificial fur exports from Sri Lanka plummeted to X kg in 2022, shrinking by -30.3% on 2021 figures. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 732%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, artificial fur exports fell significantly to $X in 2022. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 596%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Ethiopia (X kg) was the main destination for artificial fur exports from Sri Lanka, accounting for a 97% share of total exports. Moreover, artificial fur exports to Ethiopia exceeded the volume sent to the second major destination, Italy (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Ethiopia totaled -10.7%.

In value terms, Ethiopia ($X) remains the key foreign market for artificial fur exports from Sri Lanka, comprising 67% of total exports. The second position in the ranking was held by Italy ($X), with a 33% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Ethiopia amounted to -20.1%.

Export Prices by Country

The average artificial fur export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the export price, however, posted a measured expansion. The most prominent rate of growth was recorded in 2013 an increase of 77% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+19.0%), while the prices for the other major destinations experienced mixed trend patterns.

Artificial Fur Imports

Imports into Sri Lanka

Artificial fur imports into Sri Lanka surged to X tons in 2022, increasing by 1,272% compared with the previous year. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 3,543%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, artificial fur imports soared to $X in 2022. Over the period under review, imports posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 4,678%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Hong Kong SAR (X tons), India (X tons) and Italy (X tons) were the main suppliers of artificial fur imports to Sri Lanka, with a combined 99% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +105.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) constituted the largest supplier of artificial fur to Sri Lanka, comprising 56% of total imports. The second position in the ranking was held by Italy ($X), with a 25% share of total imports. It was followed by India, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from Hong Kong SAR amounted to +56.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+79.1% per year) and India (+82.5% per year).

Import Prices by Country

In 2022, the average artificial fur import price amounted to $X per ton, which is down by -4.5% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 277% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :