Report Update Nov 1, 2024

Sri Lanka - Contact Lenses - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Contact Lense Market 2024

Contact Lense Market Size in Sri Lanka

The Sri Lankan contact lense market contracted to $X in 2022, declining by -8.1% 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 posted a prominent expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Contact Lense Exports

Exports from Sri Lanka

After four years of decline, shipments abroad of contact lenses increased by 88% to X units in 2022. In general, exports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2017 with an increase of 306%. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, contact lense exports surged to $X in 2022. Over the period under review, exports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2013 when exports increased by 94% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Maldives (X units) was the main destination for contact lense exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives amounted to -9.0%.

In value terms, Maldives ($X) emerged as the key foreign market for contact lenses exports from Sri Lanka.

From 2012 to 2022, the average annual growth rate of value to Maldives totaled -5.3%.

Export Prices by Country

The average contact lense export price stood at $X per unit in 2022, falling by -5.9% against the previous year. Overall, the export price, however, posted a perceptible expansion. The most prominent rate of growth was recorded in 2014 an increase of 296%. Over the period under review, the average export prices reached the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2022, the rate of growth in terms of prices for Seychelles amounted to +24.3% per year.

Contact Lense Imports

Imports into Sri Lanka

In 2022, approx. X units of contact lenses were imported into Sri Lanka; rising by 15% compared with the previous year. In general, imports recorded a prominent increase. The pace of growth was the most pronounced in 2016 when imports increased by 80% against the previous year. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, contact lense imports fell significantly to $X in 2022. Overall, imports showed strong growth. The pace of growth was the most pronounced in 2016 with an increase of 162% against the previous year. Imports peaked at $X in 2021, and then fell markedly in the following year.

Imports by Country

China (X units), the United States (X units) and Singapore (X units) were the main suppliers of contact lense imports to Sri Lanka, together accounting for 74% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +102.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest contact lense suppliers to Sri Lanka were the United States ($X), Singapore ($X) and Israel ($X), together accounting for 74% of total imports. Ireland, India, South Korea, China and Hong Kong SAR lagged somewhat behind, together accounting for a further 18%.

Among the main suppliers, China, with a CAGR of +65.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average contact lense import price amounted to $X per unit, with a decrease of -31.4% against the previous year. Over the period under review, the import price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 49% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for contact lenses in the world?

The countries with the highest volumes of in 2021 were Japan, South Africa and the UK, with a combined 53% share of global consumption. The United States, Ireland, Italy, Indonesia and Sweden lagged somewhat behind, together accounting for a further 21%.

What are the largest producers of contact lenses in the world?

South Africa remains the largest contact lense producing country worldwide, accounting for 37% of total volume. Moreover, contact lense production in South Africa exceeded the figures recorded by the second-largest producer, Ireland, twofold. Belgium ranked third in terms of total production with a 9.4% share.

What are the leading suppliers of contact lenses to Sri Lanka?

In value terms, the largest contact lense suppliers to Sri Lanka were Hong Kong SAR, Israel and Singapore, together accounting for 69% of total imports. These countries were followed by Ireland, India and the United States, which together accounted for a further 27%.

What are the leading importers of contact lenses from Sri Lanka?

In value terms, Maldives remains the key foreign market for contact lense exports from Sri Lanka, comprising 98% of total exports. The second position in the ranking was occupied by Switzerland $59), with a 1% share of total exports.

What is the average export price for contact lenses in Sri Lanka?

In 2021, the average contact lense export price amounted to $4.8 per unit, with a decrease of -10% against the previous year.

What is the average import price for contact lenses in Sri Lanka?

In 2021, the average contact lense import price amounted to $6.8 per unit, dropping by -31.8% against the previous year.

This report provides an in-depth analysis of the contact lense market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32504130 - Contact lenses

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023