Sri Lanka: Market for Tableware And Kitchenware Of Wood 2024

Market Size for Tableware And Kitchenware Of Wood in Sri Lanka

In 2021, the Sri Lankan wood kitchenware and tableware market decreased by -7.6% to $X for the first time since 2011, thus ending a nine-year rising trend. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Production of Tableware And Kitchenware Of Wood in Sri Lanka

In value terms, wood kitchenware and tableware production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the production volume increased by 21%. As a result, production attained the peak level of $X, and then contracted in the following year.

Exports of Tableware And Kitchenware Of Wood

Exports from Sri Lanka

In 2021, approx. X tons of tableware and kitchenware of wood were exported from Sri Lanka; shrinking by -55.4% compared with the year before. In general, exports, however, showed a modest increase. The growth pace was the most rapid in 2020 when exports increased by 89%. As a result, the exports reached the peak of X tons, and then contracted markedly in the following year.

In value terms, wood kitchenware and tableware exports fell significantly to $X in 2021. Overall, exports showed a mild slump. The growth pace was the most rapid in 2020 with an increase of 136%. As a result, the exports reached the peak of $X, and then fell markedly in the following year.

Exports by Country

Germany (X tons), Maldives (X tons) and Seychelles (X kg) were the main destinations of wood kitchenware and tableware exports from Sri Lanka, with a combined 52% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +67.1%), while the other leaders experienced more modest paces of growth.

In value terms, Maldives ($X) emerged as the key foreign market for tableware and kitchenware of wood exports from Sri Lanka, comprising 29% of total exports. The second position in the ranking was taken by Germany ($X), with an 11% share of total exports. It was followed by the Netherlands, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives amounted to +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+31.3% per year) and the Netherlands (+27.4% per year).

Export Prices by Country

In 2021, the average wood kitchenware and tableware export price amounted to $X per ton, growing by 6% against the previous year. In general, the export price, however, showed a noticeable curtailment. The growth pace was the most rapid in 2020 an increase of 25%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Germany ($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 Australia (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tableware And Kitchenware Of Wood

Imports into Sri Lanka

In 2021, approx. X tons of tableware and kitchenware of wood were imported into Sri Lanka; which is down by -43.3% compared with the year before. Over the period under review, imports, however, recorded a temperate increase. The most prominent rate of growth was recorded in 2015 with an increase of 361%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, wood kitchenware and tableware imports shrank notably to $X in 2021. In general, imports, however, showed perceptible growth. The most prominent rate of growth was recorded in 2015 when imports increased by 427%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the main wood kitchenware and tableware supplier to Sri Lanka, accounting for a 94% share of total imports. It was followed by Hong Kong SAR (X kg), with a 2.4% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +6.1%.

In value terms, China ($X) constituted the largest supplier of tableware and kitchenware of wood to Sri Lanka, comprising 76% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 0.5% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to +9.3%.

Import Prices by Country

The average wood kitchenware and tableware import price stood at $X per ton in 2021, dropping by -27.6% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 45% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Hong Kong SAR amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.0%).

Source: IndexBox Platform

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