Sri Lanka: Canned Food Market 2024

Canned Food Market Size in Sri Lanka

The Sri Lankan canned food market reached $X in 2021, remaining relatively unchanged against the previous year. Overall, consumption continues to indicate prominent growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Canned Food Production in Sri Lanka

In value terms, canned food production stood at $X in 2021 estimated in export price. Over the period under review, production saw strong growth. The growth pace was the most rapid in 2015 when the production volume increased by 28% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Canned Food Exports

Exports from Sri Lanka

Canned food exports from Sri Lanka reduced modestly to X tons in 2021, approximately reflecting the year before. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 17% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, canned food exports reached $X in 2021. The total export value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2017 with an increase of 13%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons), Spain (X tons) and the Netherlands (X tons) were the main destinations of canned food exports from Sri Lanka, with a combined 48% share of total exports. These countries were followed by Australia, Taiwan (Chinese), South Africa, Germany, the Philippines, Malaysia, Hong Kong SAR, the United Arab Emirates and Saudi Arabia, which together accounted for a further 30%.

From 2012 to 2020, the biggest increases were recorded for Saudi Arabia (with a CAGR of +70.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for canned food exported from Sri Lanka were Japan ($X), Spain ($X) and Germany ($X), with a combined 48% share of total exports. These countries were followed by the Netherlands, Australia, Taiwan (Chinese), South Africa, the Philippines, Malaysia, the United Arab Emirates, Hong Kong SAR and Saudi Arabia, which together accounted for a further 27%.

In terms of the main countries of destination, Saudi Arabia, with a CAGR of +21.6%, saw 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 canned food export price stood at $X per ton in 2020, approximately mirroring the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 15%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2020, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Food Imports

Imports into Sri Lanka

In 2021, after three years of decline, there was significant growth in purchases abroad of canned food, when their volume increased by 36% to X tons. In general, total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -17.2% against 2017 indices. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, canned food imports soared to $X in 2021. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +61.1% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Philippines (X tons), Malaysia (X tons) and China (X tons) were the main suppliers of canned food imports to Sri Lanka, with a combined 53% share of total imports. These countries were followed by Indonesia, Thailand, Spain, India, Singapore and the United States, which together accounted for a further 28%.

From 2012 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +21.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest canned food suppliers to Sri Lanka were the Philippines ($X), Indonesia ($X) and Malaysia ($X), with a combined 64% share of total imports. Thailand, China, India, Spain, Singapore and the United States lagged somewhat behind, together accounting for a further 20%.

Spain, with a CAGR of +18.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average canned food import price amounted to $X per ton, jumping by 28% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2020, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by India (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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