Sri Lanka: Refrigerated Show-Cases Market 2024

Refrigerated Show-Cases Market Size in Sri Lanka

In 2022, the Sri Lankan refrigerated show-cases market decreased by -13.6% to $X for the first time since 2017, thus ending a four-year rising trend. In general, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Refrigerated show-cases consumption peaked at $X in 2021, and then fell in the following year.

Refrigerated Show-Cases Production in Sri Lanka

In value terms, refrigerated show-cases production rose slightly to $X in 2022 estimated in export price. Overall, production, however, showed a perceptible curtailment. The pace of growth appeared the most rapid in 2018 when the production volume increased by 40% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Refrigerated Show-Cases Exports

Exports from Sri Lanka

In 2022, shipments abroad of refrigerated show-caseses increased by 9.8% to X units, rising for the second year in a row after two years of decline. In general, exports, however, continue to indicate a sharp curtailment. The growth pace was the most rapid in 2021 when exports increased by 364% against the previous year. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, refrigerated show-cases exports soared to $X in 2022. Over the period under review, exports, however, saw a sharp descent. The pace of growth was the most pronounced in 2021 with an increase of 438%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

India (X units) was the main destination for refrigerated show-cases exports from Sri Lanka, accounting for a 100% share of total exports. It was followed by Bangladesh (X units), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to India stood at -18.8%.

In value terms, India ($X) emerged as the key foreign market for refrigerated show-caseses exports from Sri Lanka, comprising 99% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a 0.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India totaled -17.9%.

Export Prices by Country

The average refrigerated show-cases export price stood at $X per unit in 2022, increasing by 10% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, 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 Bangladesh ($X per unit), while the average price for exports to India stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+16.5%), while the prices for the other major destinations experienced mixed trend patterns.

Refrigerated Show-Cases Imports

Imports into Sri Lanka

In 2022, approx. X units of refrigerated show-caseses were imported into Sri Lanka; shrinking by -74.8% on the year before. Overall, imports recorded a pronounced reduction. The pace of growth appeared the most rapid in 2016 when imports increased by 129%. Imports peaked at X units in 2021, and then contracted sharply in the following year.

In value terms, refrigerated show-cases imports shrank dramatically to $X in 2022. Over the period under review, imports continue to indicate a noticeable decline. The pace of growth was the most pronounced in 2021 when imports increased by 61%. As a result, imports reached the peak of $X, and then shrank remarkably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest refrigerated show-cases supplier to Sri Lanka, accounting for a 74% share of total imports. Moreover, refrigerated show-cases imports from China exceeded the figures recorded by the second-largest supplier, India (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+12.8% per year) and Indonesia (-10.3% per year).

In value terms, China ($X) constituted the largest supplier of refrigerated show-caseses to Sri Lanka, comprising 60% of total imports. The second position in the ranking was held by India ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.3% per year) and Indonesia (-13.2% per year).

Import Prices by Country

In 2022, the average refrigerated show-cases import price amounted to $X per unit, rising by 44% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform