Sri Lanka: Market for Pineapple Juice (Single Strength) 2024

Market Size for Pineapple Juice (Single Strength) in Sri Lanka

The Sri Lankan pineapple juice (single strength) market declined sharply to $X in 2021, with a decrease of -24.5% against the previous year. Over the period under review, consumption continues to indicate a slight slump. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Pineapple Juice (Single Strength) in Sri Lanka

In value terms, pineapple juice (single strength) production fell significantly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 95% against the previous year. Pineapple juice (single strength) production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Exports of Pineapple Juice (Single Strength)

Exports from Sri Lanka

Pineapple juice (single strength) exports from Sri Lanka soared to X tons in 2021, with an increase of 154% against the year before. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 598%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, pineapple juice (single strength) exports soared to $X in 2021. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 398%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Maldives (X tons) was the main destination for pineapple juice (single strength) exports from Sri Lanka, with a 32% share of total exports. Moreover, pineapple juice (single strength) exports to Maldives exceeded the volume sent to the second major destination, Switzerland (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume to Maldives amounted to +35.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+58.7% per year) and the United States (0.0% per year).

In value terms, Maldives ($X) remains the key foreign market for pineapple juice (single strength) exports from Sri Lanka, comprising 41% of total exports. The second position in the ranking was held by Switzerland ($X), with a 15% share of total exports. It was followed by the United States, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives amounted to +49.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+63.5% per year) and the United States (0.0% per year).

Export Prices by Country

In 2021, the average pineapple juice (single strength) export price amounted to $X per ton, picking up by 22% against the previous year. Over the period under review, export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pineapple juice (single strength) export price increased by +112.9% against 2019 indices. The growth pace was the most rapid in 2020 when the average export price increased by 75% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, the 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 Australia ($X per ton), while the average price for exports to the Netherlands ($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 (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pineapple Juice (Single Strength)

Imports into Sri Lanka

In 2021, purchases abroad of pineapple juice (single strength) decreased by -33.4% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2018 when imports increased by 236% against the previous year. Imports peaked at X tons in 2020, and then shrank markedly in the following year.

In value terms, pineapple juice (single strength) imports reduced notably to $X in 2021. In general, imports, however, saw a buoyant increase. The growth pace was the most rapid in 2020 with an increase of 219%. As a result, imports attained the peak of $X, and then reduced dramatically in the following year.

Imports by Country

In 2021, Cyprus (X tons) constituted the largest supplier of pineapple juice (single strength) to Sri Lanka, with a 48% share of total imports. Moreover, pineapple juice (single strength) imports from Cyprus exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. South Africa (X tons) ranked third in terms of total imports with a 20% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Cyprus totaled +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+7.9% per year) and South Africa (0.0% per year).

In value terms, the largest pineapple juice (single strength) suppliers to Sri Lanka were Cyprus ($X), Turkey ($X) and South Africa ($X), with a combined 91% share of total imports. These countries were followed by the United Arab Emirates, which accounted for a further 8.5%.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +34.5%, 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 pineapple juice (single strength) import price amounted to $X per ton, surging by 8.6% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 59%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

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 Turkey ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+84.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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