Sri Lanka: Caramel Market 2022

Caramel Market Size in Sri Lanka

The Sri Lankan caramel market shrank to $X in 2020, waning by -X% 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). In general, consumption, however, saw resilient growth. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Over the period under review, the market reached the maximum level at $X in 2019, and then contracted in the following year.

Caramel Exports

Exports from Sri Lanka

In 2020, exports of caramel from Sri Lanka skyrocketed to X tons, growing by X% on the previous year's figure. Overall, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Exports peaked in 2020 and are likely to see gradual growth in the near future.

In value terms, caramel exports surged to $X in 2020. In general, exports recorded a resilient increase. The growth pace was the most rapid in 2014 when exports increased by X% y-o-y. Exports peaked in 2020 and are expected to retain growth in the immediate term.

Exports by Country

Australia (X tons), the U.S. (X tons) and Canada (X tons) were the main destinations of caramel exports from Sri Lanka, together comprising X% of total exports. The UK, France, Italy, Bulgaria, Switzerland, Germany, Kuwait, Qatar, Saudi Arabia and the United Arab Emirates lagged somewhat behind, together accounting for a further X 2007 to 2020, the biggest increases were in Bulgaria (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), Australia ($X) and Canada ($X) were the largest markets for caramel exported from Sri Lanka worldwide, with a combined X% share of total exports. These countries were followed by the UK, Kuwait, Bulgaria, France, Italy, the United Arab Emirates, Switzerland, Germany, Qatar and Saudi Arabia, which together accounted for a further X (+X% per year) recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average caramel export price stood at $X per ton in 2020, with an increase of X% against the previous year. In general, export price indicated a prominent expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, caramel export price decreased by -X% against 2018 indices. The growth pace was the most rapid in 2008 when the average export price increased by X% against the previous year. Over the period under review, average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2020, export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Germany, while the prices for the other major destinations experienced more modest paces of growth.

Caramel Imports

Imports into Sri Lanka

In 2020, imports of caramel into Sri Lanka fell to X tons, shrinking by -X% on 2019. Overall, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2010 when imports increased by X% year-to-year. Over the period under review, imports hit record highs at X tons in 2019, and then dropped in the following year.

In value terms, caramel imports soared to $X in 2020. In general, imports, however, enjoyed prominent growth. The growth pace was the most rapid in 2010 when imports increased by X% y-o-y. Over the period under review, imports reached the peak figure in 2020 and are likely to see gradual growth in the near future.

Imports by Country

China (X tons), Malaysia (X tons) and Singapore (X tons) were the main suppliers of caramel imports to Sri Lanka, with a combined X% share of total imports. Indonesia, India, the Philippines and Italy lagged somewhat behind, together accounting for a further X 2007 to 2020, the biggest increases were in the Philippines (+X% per year), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), China ($X) and Malaysia ($X) appeared to be the largest caramel suppliers to Sri Lanka, together comprising X% of total imports. These countries were followed by Indonesia, the Philippines, India and Italy, which together accounted for a further X terms of the main suppliers, the Philippines (+X% per year) saw the highest rates of growth with regard to 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 caramel import price stood at $X per ton in 2020, with an increase of X% against the previous year. In general, import price indicated a notable expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, caramel import price increased by +X% against 2017 indices. The pace of growth appeared the most rapid in 2010 when the average import price increased by X% y-o-y. The import price peaked in 2020 and is likely to see gradual growth in years to come.

Prices varied noticeably by the country of origin; the country with the highest price was Singapore ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Singapore, while the prices for the other major suppliers experienced more modest paces of growth.

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