Sri Lanka: Baby Food Market 2024

Baby Food Market Size in Sri Lanka

After three years of growth, the Sri Lankan baby food market decreased by -0.9% to $X in 2021. The market value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Baby food consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Baby Food Production in Sri Lanka

In value terms, baby food production shrank slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of 12%. Baby food production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Baby Food Exports

Exports from Sri Lanka

In 2021, the amount of food preparations for infants exported from Sri Lanka soared to X tons, growing by 15% compared with 2020. Overall, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2019 when exports increased by 256%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, baby food exports amounted to $X in 2021. In general, exports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2019 when exports increased by 223%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X tons) was the main destination for baby food exports from Sri Lanka, with a 42% share of total exports. Moreover, baby food exports to Oman exceeded the volume sent to the second major destination, Suriname (X tons), twofold. Switzerland (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman totaled +40.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Suriname (-1.9% per year) and Switzerland (+6.0% per year).

In value terms, Oman ($X), Suriname ($X) and the United Arab Emirates ($X) constituted the largest markets for baby food exported from Sri Lanka worldwide, with a combined 80% share of total exports.

Among the main countries of destination, Oman, with a CAGR of +31.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average baby food export price stood at $X per ton in 2021, reducing by -6.9% 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 2013 an increase of 18%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Suriname ($X per ton), while the average price for exports to Switzerland ($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 Maldives (+8.0%), while the prices for the other major destinations experienced mixed trend patterns.

Baby Food Imports

Imports into Sri Lanka

In 2021, imports of food preparations for infants into Sri Lanka surged to X tons, with an increase of 37% compared with the previous year's figure. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -12.6% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 42% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, baby food imports skyrocketed to $X in 2021. In general, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +109.2% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Philippines (X tons), Malaysia (X tons) and Indonesia (X tons) were the main suppliers of baby food imports to Sri Lanka, together comprising 92% of total imports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +70.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest baby food suppliers to Sri Lanka were the Philippines ($X), Indonesia ($X) and Malaysia ($X), together comprising 86% of total imports.

Among the main suppliers, Malaysia, with a CAGR of +80.0%, 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

The average baby food import price stood at $X per ton in 2021, increasing by 13% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 46% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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