Sri Lanka: Fruit Flour Market 2024

Fruit Flour Market Size in Sri Lanka

The Sri Lankan fruit flour market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption, however, continues to indicate a mild decline. Fruit flour consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Fruit Flour Production in Sri Lanka

In value terms, fruit flour production contracted to $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced contraction. The most prominent rate of growth was recorded in 2021 when the production volume increased by 15% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Fruit Flour Exports

Exports from Sri Lanka

In 2022, exports of fruit flour from Sri Lanka declined rapidly to X tons, which is down by -55.6% against 2021. Over the period under review, exports recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 24%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, fruit flour exports fell markedly to $X in 2022. Overall, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 37%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for fruit flour exports from Sri Lanka, with a 38% share of total exports. Moreover, fruit flour exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), threefold. The Netherlands (X tons) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +77.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+21.8% per year) and the Netherlands (+18.0% per year).

In value terms, the United States ($X), Germany ($X) and the Netherlands ($X) appeared to be the largest markets for fruit flour exported from Sri Lanka worldwide, with a combined 48% share of total exports. Brazil, the UK, Poland, China, Russia, Canada, Mexico, Bulgaria, the United Arab Emirates and Portugal lagged somewhat behind, together comprising a further 26%.

In terms of the main countries of destination, Bulgaria, with a CAGR of +66.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fruit flour export price stood at $X per ton in 2022, dropping by -46.8% against the previous year. In general, the export price showed a abrupt downturn. The growth pace was the most rapid in 2021 when the average export price increased by 22% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Portugal ($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 Brazil (+2.1%), while the prices for the other major destinations experienced a decline.

Fruit Flour Imports

Imports into Sri Lanka

In 2022, imports of fruit flour into Sri Lanka declined sharply to X tons, with a decrease of -80.9% against the year before. Over the period under review, imports faced a precipitous slump. The most prominent rate of growth was recorded in 2014 when imports increased by 1,010%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, fruit flour imports reduced notably to $X in 2022. Overall, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2014 when imports increased by 575% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest fruit flour supplier to Sri Lanka, accounting for a 58% share of total imports. Moreover, fruit flour imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X kg), threefold. China (X kg) ranked third in terms of total imports with a 20% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to -36.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-46.6% per year) and China (+15.0% per year).

In value terms, China ($X), the United Arab Emirates ($X) and India ($X) were the largest fruit flour suppliers to Sri Lanka, together comprising 99% of total imports.

In terms of the main suppliers, China, with a CAGR of +30.3%, 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 a decline.

Import Prices by Country

The average fruit flour import price stood at $X per ton in 2022, with an increase of 80% against the previous year. Over the period under review, the import price enjoyed a buoyant increase. The pace of growth was the most pronounced in 2021 an increase of 117%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States ($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 (+29.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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