Sri Lanka: Market for Cider, Perry, Mead And Other Fermented Beverages 2024

Market Size for Cider, Perry, Mead And Other Fermented Beverages in Sri Lanka

In 2021, after three years of growth, there was decline in the Sri Lankan cider, perry and mead market, when its value decreased by -3.9% to $X. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Cider, Perry, Mead And Other Fermented Beverages in Sri Lanka

In value terms, cider, perry and mead production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 24% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Exports of Cider, Perry, Mead And Other Fermented Beverages

Exports from Sri Lanka

In 2021, approx. X litres of cider, perry, mead and other fermented beverages were exported from Sri Lanka; jumping by 699% against the year before. In general, exports recorded a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cider, perry and mead exports soared to $X in 2021. Over the period under review, exports saw buoyant growth. The pace of growth was the most pronounced in 2019 when exports increased by 178%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

The United Arab Emirates (X litres), Australia (X litres) and France (X litres) were the main destinations of cider, perry and mead exports from Sri Lanka, with a combined 37% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +616.5%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), the United Arab Emirates ($X) and France ($X) were the largest markets for cider, perry and mead exported from Sri Lanka worldwide, with a combined 50% share of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +386.0%, saw the highest rates of growth with regard to 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 cider, perry and mead export price stood at $X per litre in 2021, which is down by -65.6% against the previous year. Overall, the export price, however, continues to indicate a noticeable increase. The growth pace was the most rapid in 2020 an increase of 222% against the previous year. As a result, the export price reached the peak level of $X per litre, and then reduced markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per litre), while the average price for exports to France ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+232.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cider, Perry, Mead And Other Fermented Beverages

Imports into Sri Lanka

For the third consecutive year, Sri Lanka recorded decline in overseas purchases of cider, perry, mead and other fermented beverages, which decreased by -70.1% to X litres in 2021. Overall, imports showed a deep reduction. The pace of growth appeared the most rapid in 2015 with an increase of 146% against the previous year. Imports peaked at X litres in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, cider, perry and mead imports declined modestly to $X in 2021. In general, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 139% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India (X litres), the United States (X litres) and Japan (X litres) were the main suppliers of cider, perry and mead imports to Sri Lanka, together comprising 99% of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +14.9%), while purchases for the other leaders experienced a decline.

In value terms, India ($X) constituted the largest supplier of cider, perry, mead and other fermented beverages to Sri Lanka, comprising 59% of total imports. The second position in the ranking was taken by the United States ($X), with a 21% share of total imports.

From 2012 to 2021, the average annual growth rate of value from India stood at +107.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.5% per year) and Japan (-13.5% per year).

Import Prices by Country

In 2021, the average cider, perry and mead import price amounted to $X per litre, jumping by 219% against the previous year. Over the period under review, the import price continues to indicate a prominent expansion. 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 India ($X per litre), while the price for the United States ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+80.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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