Sri Lanka: Market for Plastic Tableware And Kitchenware 2024

Market Size for Plastic Tableware And Kitchenware in Sri Lanka

The Sri Lankan plastic tableware and kitchenware market shrank notably to $X in 2022, which is down by -87.4% 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). In general, consumption faced a deep reduction. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Exports of Plastic Tableware And Kitchenware

Exports from Sri Lanka

In 2022, shipments abroad of plastic tableware and kitchenware increased by 107% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2015 with an increase of 213%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, plastic tableware and kitchenware exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a drastic downturn. The growth pace was the most rapid in 2015 with an increase of 208% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Maldives (X tons) was the main destination for plastic tableware and kitchenware exports from Sri Lanka, accounting for a 76% share of total exports. Moreover, plastic tableware and kitchenware exports to Maldives exceeded the volume sent to the second major destination, Australia (X tons), eightfold. Seychelles (X tons) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume to Maldives stood at +24.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+8.5% per year) and Seychelles (+57.7% per year).

In value terms, Maldives ($X) remains the key foreign market for plastic tableware and kitchenware exports from Sri Lanka, comprising 55% of total exports. The second position in the ranking was taken by Australia ($X), with an 8.3% share of total exports. It was followed by the UK, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value to Maldives totaled +18.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+6.9% per year) and the UK (-22.0% per year).

Export Prices by Country

In 2022, the average plastic tableware and kitchenware export price amounted to $X per ton, with a decrease of -31.6% against the previous year. Over the period under review, the export price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 28%. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the United Arab Emirates ($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 Pakistan (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic Tableware And Kitchenware

Imports into Sri Lanka

For the fourth year in a row, Sri Lanka recorded decline in purchases abroad of plastic tableware and kitchenware, which decreased by -90.4% to X tons in 2022. Over the period under review, imports recorded a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 732%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, plastic tableware and kitchenware imports shrank remarkably to $X in 2022. Overall, imports saw a deep downturn. The pace of growth appeared the most rapid in 2016 when imports increased by 542%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), the United Arab Emirates (X tons) and Thailand (X tons) were the main suppliers of plastic tableware and kitchenware imports to Sri Lanka, with a combined 83% share of total imports. Belgium, Indonesia, Malaysia, South Korea and India lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +53.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic tableware and kitchenware suppliers to Sri Lanka were Thailand ($X), China ($X) and Belgium ($X), with a combined 73% share of total imports.

In terms of the main suppliers, Belgium, with a CAGR of +47.1%, saw 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 plastic tableware and kitchenware import price amounted to $X per ton, increasing by 162% against the previous year. Overall, the import price showed a resilient 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 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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