Sri Lanka: Concentrated Apple Juice Market 2024

Concentrated Apple Juice Market Size in Sri Lanka

The Sri Lankan concentrated apple juice market skyrocketed to $X in 2021, with an increase of 52% 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, saw a noticeable shrinkage. Concentrated apple juice consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Concentrated Apple Juice Exports

Exports from Sri Lanka

In 2021, the amount of concentrated apple juice exported from Sri Lanka dropped dramatically to X tons, with a decrease of -17.3% against the previous year's figure. Over the period under review, exports faced a precipitous decline. The pace of growth appeared the most rapid in 2013 when exports increased by 378% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, concentrated apple juice exports reduced dramatically to $X in 2021. Overall, exports faced a dramatic decrease. The most prominent rate of growth was recorded in 2013 with an increase of 329%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Oman (X tons), Myanmar (X tons) and the UK (X kg) were the main destinations of concentrated apple juice exports from Sri Lanka, with a combined 68% share of total exports. These countries were followed by India, Switzerland, Maldives and the United Arab Emirates, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +5.8%), while shipments for the other leaders experienced a decline.

In value terms, the UK ($X) remains the key foreign market for concentrated apple juice exports from Sri Lanka, comprising 44% of total exports. The second position in the ranking was held by Maldives ($X), with an 18% share of total exports. It was followed by India, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the UK totaled +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (-2.5% per year) and India (-31.2% per year).

Export Prices by Country

In 2021, the average concentrated apple juice export price amounted to $X per ton, falling by -22.1% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 35%. As a result, the export price attained the peak level of $X per ton, and then reduced dramatically in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Oman ($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 the UK (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Concentrated Apple Juice Imports

Imports into Sri Lanka

In 2021, imports of concentrated apple juice into Sri Lanka surged to X tons, growing by 40% compared with the year before. Overall, imports, however, saw a deep setback. The growth pace was the most rapid in 2015 with an increase of 112%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, concentrated apple juice imports soared to $X in 2021. In general, imports, however, showed a perceptible decrease. The pace of growth appeared the most rapid in 2017 when imports increased by 128%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest concentrated apple juice supplier to Sri Lanka, with a 40% share of total imports. Moreover, concentrated apple juice imports from China exceeded the figures recorded by the second-largest supplier, Australia (X tons), threefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-14.3% per year) and the United Arab Emirates (-17.6% per year).

In value terms, China ($X) constituted the largest supplier of concentrated apple juice to Sri Lanka, comprising 37% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 17% share of total imports. It was followed by Australia, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-9.5% per year) and Australia (-15.7% per year).

Import Prices by Country

In 2021, the average concentrated apple juice import price amounted to $X per ton, surging by 8.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2014 an increase of 18% against the previous year. The import price peaked 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 Chile ($X per ton), while the price for Cyprus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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