Sri Lanka: Caramel Market 2025

Caramel Market Size in Sri Lanka

The Sri Lankan caramel market soared to $X in 2022, with an increase of X% 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). Over the period under review, consumption, however, enjoyed a prominent increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Caramel Exports

Exports from Sri Lanka

For the third year in a row, Sri Lanka recorded growth in shipments abroad of caramel, which increased by X% to X tons in 2022. In general, exports enjoyed a prominent expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, caramel exports rose significantly to $X in 2022. Over the period under review, exports recorded strong growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Australia (X tons), Canada (X tons) and the UK (X tons) were the main destinations of caramel exports from Sri Lanka, together accounting for X% of total exports. France, Indonesia, Germany, Bulgaria, Italy, Maldives, Qatar, the United States, Kuwait and Switzerland lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for caramel exported from Sri Lanka were Australia ($X), Canada ($X) and the UK ($X), together comprising X% of total exports. Indonesia, France, Bulgaria, the United States, Italy, Germany, Maldives, Kuwait, Qatar and Switzerland lagged somewhat behind, together accounting for a further X%.

Indonesia, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average caramel export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, caramel export price decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the average export price increased by X%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (X%), while the prices for the other major destinations experienced more modest paces of growth.

Caramel Imports

Imports into Sri Lanka

After three years of growth, supplies from abroad of caramel decreased by X% to X tons in 2022. In general, imports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped modestly in the following year.

In value terms, caramel imports surged to $X in 2022. Overall, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Malaysia (X tons), India (X tons) and Singapore (X tons) were the main suppliers of caramel imports to Sri Lanka, with a combined X% share of total imports. China, Indonesia, the Philippines and Italy lagged somewhat behind, together accounting for a further X%.

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

In value terms, Singapore ($X), Malaysia ($X) and India ($X) appeared to be the largest caramel suppliers to Sri Lanka, together comprising X% of total imports. Indonesia, the Philippines, China and Italy lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, recorded 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 caramel import price stood at $X per ton in 2022, jumping by X% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the average import price increased by X%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform