Sri Lanka: Gingerbread Market 2024

Gingerbread Market Size in Sri Lanka

The Sri Lankan gingerbread market rose modestly to $X in 2022, increasing by 2.7% against the previous year. Over the period under review, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.8% against 2020 indices. Gingerbread consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Gingerbread Production in Sri Lanka

In value terms, gingerbread production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.2% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 33% against the previous year. Gingerbread production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Gingerbread Exports

Exports from Sri Lanka

In 2022, shipments abroad of gingerbread increased by 90% to X tons, rising for the second year in a row after two years of decline. Overall, exports posted a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 1,603% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, gingerbread exports surged to $X in 2022. Over the period under review, exports posted a significant expansion. The growth pace was the most rapid in 2014 when exports increased by 1,158% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

Japan (X tons) was the main destination for gingerbread exports from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Japan totaled +83.1%.

In value terms, Japan ($X) also remains the key foreign market for gingerbread exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled +48.7%.

Export Prices by Country

The average gingerbread export price stood at $X per ton in 2022, approximately equating the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by 49% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Oman amounted to +11.3% per year.

Gingerbread Imports

Imports into Sri Lanka

For the fifth consecutive year, Sri Lanka recorded decline in overseas purchases of gingerbread, which decreased by -61.1% to X kg in 2022. In general, imports showed a sharp decrease. The pace of growth appeared the most rapid in 2017 with an increase of 261%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, gingerbread imports contracted significantly to $X in 2022. Over the period under review, imports faced a precipitous decrease. The pace of growth was the most pronounced in 2013 when imports increased by 235% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China (X kg), the United Arab Emirates (X kg) and India (X kg) were the main suppliers of gingerbread imports to Sri Lanka, with a combined 96% share of total imports.

From 2012 to 2022, 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 +22.0%), while imports for the other leaders experienced a decline.

In value terms, China ($X), the United Arab Emirates ($X) and Singapore ($X) constituted the largest gingerbread suppliers to Sri Lanka, with a combined 99% share of total imports.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +6.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average gingerbread import price amounted to $X per ton, waning by -52.3% against the previous year. Over the period under review, the import price saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by 153% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+134.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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