Sri Lanka: Market for Prepared Dishes And Meals 2024

Market Size for Prepared Dishes And Meals in Sri Lanka

The Sri Lankan prepared dish and meal market shrank to $X in 2021, dropping by -2.6% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Prepared Dishes And Meals in Sri Lanka

In value terms, prepared dish and meal production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when the production volume increased by 12% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then contracted slightly in the following year.

Exports of Prepared Dishes And Meals

Exports from Sri Lanka

In 2021, after five years of growth, there was significant decline in overseas shipments of prepared dishes and meals, when their volume decreased by -7% to X tons. Over the period under review, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 109%. Over the period under review, the exports hit record highs at X tons in 2020, and then shrank in the following year.

In value terms, prepared dish and meal exports totaled $X in 2021. In general, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 75%. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

The Netherlands (X tons), Germany (X tons) and the United States (X tons) were the main destinations of prepared dish and meal exports from Sri Lanka, together accounting for 35% of total exports. These countries were followed by Australia, the United Arab Emirates, France, Italy, the UK, Sweden and Norway, which together accounted for a further 17%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +54.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and the United States ($X) were the largest markets for prepared dish and meal exported from Sri Lanka worldwide, together comprising 30% of total exports. These countries were followed by the United Arab Emirates, Australia, the UK, France, Italy, Sweden and Norway, which together accounted for a further 21%.

The United Arab Emirates, with a CAGR of +56.6%, recorded the highest growth rate of the value of exports, among 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 prepared dish and meal export price stood at $X per ton in 2021, picking up by 8.4% against the previous year. In general, the export price, however, continues to indicate a mild contraction. The growth pace was the most rapid in 2015 an increase of 10%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Germany ($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 (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Dishes And Meals

Imports into Sri Lanka

In 2021, supplies from abroad of prepared dishes and meals decreased by -28.6% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, enjoyed a perceptible increase. The growth pace was the most rapid in 2019 with an increase of 42% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, prepared dish and meal imports declined sharply to $X in 2021. Overall, imports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2019 when imports increased by 58% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Denmark (X tons), India (X tons) and the United Arab Emirates (X tons) were the main suppliers of prepared dish and meal imports to Sri Lanka, with a combined 27% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +34.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), India ($X) and Germany ($X) constituted the largest prepared dish and meal suppliers to Sri Lanka, together accounting for 36% of total imports. These countries were followed by the UK, the United Arab Emirates, Thailand, Denmark, Malaysia, the United States, China, Australia, the Netherlands and Italy, which together accounted for a further 22%.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +33.2%, saw the highest growth rate of 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 2021, the average prepared dish and meal import price amounted to $X per ton, with a decrease of -7.1% against the previous year. Over the last nine years, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2018 when the average import price increased by 20% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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