Sri Lanka: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Sri Lanka

After two years of decline, the Sri Lankan market for colouring matter of vegetable or animal origin increased by 11% to $X in 2021. In general, consumption saw a relatively flat trend pattern. Vegetable or animal colouring matter consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Colouring Matter Of Vegetable Or Animal Origin in Sri Lanka

In value terms, vegetable or animal colouring matter production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 34% against the previous year. Vegetable or animal colouring matter production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Sri Lanka

In 2021, exports of colouring matter of vegetable or animal origin from Sri Lanka reduced markedly to X kg, which is down by -17.1% against the previous year. Over the period under review, exports faced a significant decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 93% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, vegetable or animal colouring matter exports skyrocketed to $X in 2021. Overall, exports continue to indicate a sharp contraction. The pace of growth appeared the most rapid in 2020 with an increase of 63% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Maldives (X kg), the UK (X kg) and Canada (X kg) were the main destinations of vegetable or animal colouring matter exports from Sri Lanka, with a combined 66% share of total exports. These countries were followed by Japan, the United States, Germany, Switzerland, India, France and Singapore, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +34.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for vegetable or animal colouring matter exported from Sri Lanka were Canada ($X), Maldives ($X) and the UK ($X), together accounting for 67% of total exports. Germany, the United States, Switzerland, India, Japan, France and Singapore lagged somewhat behind, together accounting for a further 33%.

Germany, with a CAGR of +46.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average export price for colouring matter of vegetable or animal origin amounted to $X per ton, surging by 67% against the previous year. Over the period under review, the export price, however, continues to indicate a drastic downturn. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Germany ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+29.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Sri Lanka

Vegetable or animal colouring matter imports into Sri Lanka skyrocketed to X tons in 2021, jumping by 25% against the year before. In general, imports recorded strong growth. The pace of growth was the most pronounced in 2019 with an increase of 47% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, vegetable or animal colouring matter imports surged to $X in 2021. Over the period under review, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2014 when imports increased by 45%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Denmark (X tons) constituted the largest vegetable or animal colouring matter supplier to Sri Lanka, accounting for a 39% share of total imports. Moreover, vegetable or animal colouring matter imports from Denmark exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. The United States (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Denmark totaled +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+17.9% per year) and the United States (+0.8% per year).

In value terms, Denmark ($X) constituted the largest supplier of colouring matter of vegetable or animal origin to Sri Lanka, comprising 46% of total imports. The second position in the ranking was taken by Spain ($X), with a 4.6% share of total imports. It was followed by India, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value from Denmark totaled +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+12.0% per year) and India (+15.5% per year).

Import Prices by Country

In 2021, the average import price for colouring matter of vegetable or animal origin amounted to $X per ton, falling by -3.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 20% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+20.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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