Sri Lanka: Cosmetics Market 2024

Cosmetics Market Size in Sri Lanka

The Sri Lankan cosmetics market dropped to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Cosmetics consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Cosmetics Production in Sri Lanka

In value terms, cosmetics production totaled $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. Over the period under review, production attained the peak level in 2022 and is likely to see steady growth in years to come.

Cosmetics Exports

Exports from Sri Lanka

In 2022, overseas shipments of cosmetics decreased by X% to X tons, falling for the fourth year in a row after four years of growth. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cosmetics exports reduced remarkably to $X in 2022. Overall, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at $X in 2021, and then declined significantly in the following year.

Exports by Country

The United States (X tons), the UK (X tons) and Pakistan (X tons) were the main destinations of cosmetics exports from Sri Lanka, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for cosmetics exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Pakistan ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (X% per year) and the UK (X% per year).

Export Prices by Country

In 2022, the average cosmetics export price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cosmetics export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then dropped modestly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the United Arab Emirates ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cosmetics Imports

Imports into Sri Lanka

Cosmetics imports into Sri Lanka declined notably to X tons in 2022, waning by X% compared with 2021. Over the period under review, imports saw a abrupt slump. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, cosmetics imports fell notably to $X in 2022. Overall, imports continue to indicate a deep slump. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of cosmetics to Sri Lanka, with a X% share of total imports. Moreover, cosmetics imports from India exceeded the figures recorded by the second-largest supplier, Poland (X tons), fourfold. The third position in this ranking was held by Malaysia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Malaysia (X% per year).

In value terms, India ($X) constituted the largest supplier of cosmetics to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by France ($X), with a X% share of total imports. It was followed by Poland, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Poland (X% per year).

Import Prices by Country

The average cosmetics import price stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the import price, however, recorded temperate growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a 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 France ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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