Sri Lanka: Spirits And Liqueurs Market 2024

Spirits And Liqueurs Market Size in Sri Lanka

In 2022, the Sri Lankan spirits and liqueurs market decreased by X% to $X, falling for the third year in a row after four years of growth. Overall, consumption saw a precipitous setback. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Spirits And Liqueurs Exports

Exports from Sri Lanka

In 2022, overseas shipments of spirits, liqueurs and other spirituous beverages increased by X% to X litres, rising for the second consecutive year after two years of decline. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2014 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, spirits and liqueurs exports rose rapidly to $X in 2022. In general, exports showed a prominent increase. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X litres) was the main destination for spirits and liqueurs exports from Sri Lanka, with a X% share of total exports. It was followed by Singapore (X litres), with a X% share of total exports. The third position in this ranking was taken by the Netherlands (X litres), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and the Netherlands (X% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for spirits, liqueurs and other spirituous beverages exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with an X% share of total exports. It was followed by the Netherlands, with an X% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2022, the average spirits and liqueurs export price amounted to $X per litre, declining by X% against the previous year. Overall, the export price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2019 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per litre. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per litre), while the average price for exports to the United Arab Emirates ($X per litre) was amongst the lowest.

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

Spirits And Liqueurs Imports

Imports into Sri Lanka

In 2022, overseas purchases of spirits, liqueurs and other spirituous beverages were finally on the rise to reach X litres for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked at X litres in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, spirits and liqueurs imports surged to $X in 2022. Overall, imports saw a mild expansion. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the UK (X litres) constituted the largest spirits and liqueurs supplier to Sri Lanka, with a X% share of total imports. Moreover, spirits and liqueurs imports from the UK exceeded the figures recorded by the second-largest supplier, France (X litres), fivefold. The third position in this ranking was taken by the United States (X litres), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and the United States (X% per year).

In value terms, the UK ($X) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by France ($X), with an X% share of total imports. It was followed by the United States, with a X% share.

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

Import Prices by Country

In 2022, the average spirits and liqueurs import price amounted to $X per litre, picking up by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per litre), while the price for the Netherlands ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform

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