Sri Lanka: Market for Bottles, Jars And Other Containers Of Glass 2024

Market Size for Bottles, Jars And Other Containers Of Glass in Sri Lanka

In 2021, after three years of growth, there was significant decline in the Sri Lankan market for bottles, jars and other containers of glass, when its value decreased by -28.7% to $X. In general, consumption, however, posted a resilient increase. As a result, consumption attained the peak level of $X, and then reduced markedly in the following year.

Production of Bottles, Jars And Other Containers Of Glass in Sri Lanka

In value terms, glass bottle, jar and container production contracted rapidly to $X in 2021 estimated in export price. In general, production, however, posted a prominent increase. The growth pace was the most rapid in 2020 when the production volume increased by 130% against the previous year. As a result, production reached the peak level of $X, and then fell sharply in the following year.

Exports of Bottles, Jars And Other Containers Of Glass

Exports from Sri Lanka

In 2021, shipments abroad of bottles, jars and other containers of glass increased by 12% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports recorded a prominent increase. The growth pace was the most rapid in 2018 with an increase of 70% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, glass bottle, jar and container exports soared to $X in 2021. Over the period under review, exports posted a resilient increase. The growth pace was the most rapid in 2018 when exports increased by 72% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

India (X units) was the main destination for glass bottle, jar and container exports from Sri Lanka, accounting for a 41% share of total exports. Moreover, glass bottle, jar and container exports to India exceeded the volume sent to the second major destination, Australia (X units), twofold. The third position in this ranking was taken by the United States (X units), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to India amounted to -1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+14.2% per year) and the United States (+232.9% per year).

In value terms, India ($X), Australia ($X) and the United States ($X) constituted the largest markets for glass bottle, jar and container exported from Sri Lanka worldwide, with a combined 68% share of total exports. Canada, Mexico, Nepal, Mauritius and Pakistan lagged somewhat behind, together comprising a further 23%.

Among the main countries of destination, Mexico, with a CAGR of +5,013.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for bottles, jars and other containers of glass stood at $X per unit in 2021, surging by 23% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Mauritius ($X per unit), while the average price for exports to Nepal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+55.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bottles, Jars And Other Containers Of Glass

Imports into Sri Lanka

In 2021, overseas purchases of bottles, jars and other containers of glass decreased by -9% to X units, falling for the fifth year in a row after two years of growth. In general, imports, however, posted a slight increase. The growth pace was the most rapid in 2015 when imports increased by 115%. Imports peaked at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, glass bottle, jar and container imports totaled $X in 2021. Overall, imports, however, recorded a temperate increase. The pace of growth was the most pronounced in 2015 with an increase of 80%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

India (X units), China (X units) and Turkey (X units) were the main suppliers of glass bottle, jar and container imports to Sri Lanka, together accounting for 92% of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +105.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest glass bottle, jar and container suppliers to Sri Lanka were China ($X), India ($X) and Turkey ($X), with a combined 89% share of total imports.

Turkey, with a CAGR of +71.5%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for bottles, jars and other containers of glass stood at $X per unit in 2021, surging by 16% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 17% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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