Sri Lanka: Market for Non-Soap Washing and Cleaning Preparations 2024

Market Size for Non-Soap Washing and Cleaning Preparations in Sri Lanka

The Sri Lankan market for non-soap washing and cleaning preparations contracted modestly to $X in 2022, which is down by -4% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Non-soap washing and cleaning preparations consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Non-Soap Washing and Cleaning Preparations in Sri Lanka

In value terms, non-soap washing and cleaning preparations production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 with an increase of 20% against the previous year. Non-soap washing and cleaning preparations production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Non-Soap Washing and Cleaning Preparations

Exports from Sri Lanka

In 2022, shipments abroad of non-soap washing and cleaning preparations increased by 100% to X tons, rising for the fourth year in a row after two years of decline. In general, exports enjoyed prominent growth. The growth pace was the most rapid in 2014 when exports increased by 150%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, non-soap washing and cleaning preparations exports surged to $X in 2022. Overall, exports recorded strong growth. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Bangladesh (X tons) was the main destination for non-soap washing and cleaning preparations exports from Sri Lanka, accounting for a 51% share of total exports. Moreover, non-soap washing and cleaning preparations exports to Bangladesh exceeded the volume sent to the second major destination, Maldives (X tons), threefold. The third position in this ranking was held by India (X tons), with an 8.7% share.

From 2012 to 2022, the average annual growth rate of volume to Bangladesh amounted to +29.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+4.0% per year) and India (+31.4% per year).

In value terms, Bangladesh ($X) remains the key foreign market for non-soap washing and cleaning preparations exports from Sri Lanka, comprising 55% of total exports. The second position in the ranking was taken by Maldives ($X), with a 16% share of total exports. It was followed by India, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Bangladesh totaled +30.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+2.7% per year) and India (+32.2% per year).

Export Prices by Country

In 2022, the average export price for non-soap washing and cleaning preparations amounted to $X per ton, with an increase of 28% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 34% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 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 India ($X per ton), while the average price for exports to the United Arab Emirates ($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 Pakistan (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Soap Washing and Cleaning Preparations

Imports into Sri Lanka

In 2022, purchases abroad of non-soap washing and cleaning preparations decreased by -24.9% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when imports increased by 18% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced notably in the following year.

In value terms, non-soap washing and cleaning preparations imports declined significantly to $X in 2022. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 30% against the previous year. As a result, imports attained the peak of $X, and then dropped significantly in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest non-soap washing and cleaning preparations supplier to Sri Lanka, accounting for a 69% share of total imports. Moreover, non-soap washing and cleaning preparations imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. Germany (X tons) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.9% per year) and Germany (+4.8% per year).

In value terms, India ($X) constituted the largest supplier of non-soap washing and cleaning preparations to Sri Lanka, comprising 56% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by Germany, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India amounted to +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.2% per year) and Germany (+5.4% per year).

Import Prices by Country

The average import price for non-soap washing and cleaning preparations stood at $X per ton in 2022, surging by 11% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 29% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 Singapore ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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