Sri Lanka: Market for Wine Of Fresh Grapes (Except Sparkling Wine) 2024

Market Size for Wine Of Fresh Grapes (Except Sparkling Wine) in Sri Lanka

The Sri Lankan wine of fresh grapes market dropped significantly to $X in 2022, waning by -49% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a perceptible descent. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Exports of Wine Of Fresh Grapes (Except Sparkling Wine)

Exports from Sri Lanka

In 2022, exports of wine of fresh grapes (except sparkling wine) from Sri Lanka surged to X litres, with an increase of 393% against the previous year's figure. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 2,589%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, wine of fresh grapes exports surged to $X in 2022. Overall, exports saw a strong expansion. The growth pace was the most rapid in 2014 when exports increased by 1,474% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Maldives (X litres) was the main destination for wine of fresh grapes exports from Sri Lanka, with a 86% share of total exports. Moreover, wine of fresh grapes exports to Maldives exceeded the volume sent to the second major destination, India (X litres), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives amounted to +25.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+10.0% per year) and the United Arab Emirates (-0.8% per year).

In value terms, Maldives ($X), India ($X) and the United Arab Emirates ($X) were the largest markets for wine of fresh grapes exported from Sri Lanka worldwide, together comprising 99% of total exports.

In terms of the main countries of destination, Maldives, with a CAGR of +21.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wine of fresh grapes export price stood at $X per litre in 2022, waning by -28.1% against the previous year. In general, the export price saw a noticeable decline. The most prominent rate of growth was recorded in 2020 when the average export price increased by 97% against the previous year. As a result, the export price attained the peak level of $X per litre. From 2021 to 2022, the average 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 ($X per litre), while the average price for exports to Maldives ($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 the United Arab Emirates (+15.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Wine Of Fresh Grapes (Except Sparkling Wine)

Imports into Sri Lanka

In 2022, overseas purchases of wine of fresh grapes (except sparkling wine) increased by 6.3% to X litres, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +29.4% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 53%. Over the period under review, imports reached the peak figure at X litres in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, wine of fresh grapes imports rose sharply to $X in 2022. Overall, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +31.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 32%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Chile (X litres), South Africa (X litres) and Australia (X litres) were the main suppliers of wine of fresh grapes imports to Sri Lanka, with a combined 51% share of total imports. Spain, Italy, France, New Zealand, the United States and the United Arab Emirates lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by New Zealand (with a CAGR of +37.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wine of fresh grapes suppliers to Sri Lanka were France ($X), Chile ($X) and Australia ($X), together comprising 56% of total imports. Italy, South Africa, Spain, New Zealand, the United States and the United Arab Emirates lagged somewhat behind, together accounting for a further 39%.

Among the main suppliers, New Zealand, with a CAGR of +42.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wine of fresh grapes import price stood at $X per litre in 2022, picking up by 5.7% against the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wine of fresh grapes import price increased by +44.2% against 2016 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 28% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 New Zealand ($X per litre), while the price for Spain ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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