Sri Lanka: Confectionery Market 2024

Confectionery Market Size in Sri Lanka

The Sri Lankan confectionery market totaled $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Confectionery consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Confectionery Production in Sri Lanka

In value terms, confectionery production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Confectionery production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Confectionery Exports

Exports from Sri Lanka

In 2022, after two years of decline, there was significant growth in shipments abroad of confectionery, when their volume increased by X% to X tons. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, confectionery exports surged to $X in 2022. In general, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 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

The United Arab Emirates (X tons) was the main destination for confectionery exports from Sri Lanka, accounting for a X% share of total exports. Moreover, confectionery exports to the United Arab Emirates exceeded the volume sent to the second major destination, Bangladesh (X tons), threefold. Hong Kong SAR (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and Hong Kong SAR (X% per year).

In value terms, the largest markets for confectionery exported from Sri Lanka were the United Arab Emirates ($X), Hong Kong SAR ($X) and Bangladesh ($X), with a combined X% share of total exports.

Bangladesh, with a CAGR of X%, saw 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 confectionery export price stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price, however, showed a prominent increase. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to the Philippines ($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 Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Confectionery Imports

Imports into Sri Lanka

In 2022, the amount of confectionery imported into Sri Lanka reduced to X tons, waning by X% on the year before. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, confectionery imports reduced to $X in 2022. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Malaysia (X tons), Singapore (X tons) and Indonesia (X tons) were the main suppliers of confectionery imports to Sri Lanka, together comprising X% of total imports. Turkey, India, Poland, China, Switzerland, the Netherlands, the United Arab Emirates, Colombia, the United States and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest confectionery suppliers to Sri Lanka were India ($X), Singapore ($X) and Malaysia ($X), together accounting for X% of total imports. Indonesia, Switzerland, the Netherlands, Turkey, Poland, the United Arab Emirates, China, the UK, Colombia and the United States lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, recorded the highest growth rate of 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 confectionery import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, recorded a mild curtailment. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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