
Sri Lanka - Colouring Matter of Vegetable or Animal Origin - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
Sri Lanka: Market for Colouring Matter Of Vegetable Or Animal Origin 2022
Market Size for Colouring Matter Of Vegetable Or Animal Origin in Sri Lanka
For the fourth consecutive year, the Sri Lankan market for colouring matter of vegetable or animal origin recorded growth in sales value, which increased by 39% to $X in 2021. Over the period under review, consumption recorded strong growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.
Exports of Colouring Matter Of Vegetable Or Animal Origin
Exports from Sri Lanka
Vegetable or animal colouring matter exports from Sri Lanka shrank dramatically to X tons in 2021, with a decrease of -95.7% against the previous year's figure. Over the period under review, exports, however, saw a noticeable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 6,432% against the previous year. As a result, the exports reached the peak of X tons, and then dropped notably in the following year.
In value terms, vegetable or animal colouring matter exports contracted notably to $X in 2021. In general, exports, however, enjoyed a perceptible increase. The pace of growth appeared the most rapid in 2020 when exports increased by 5,764% against the previous year. As a result, the exports attained the peak of $X, and then dropped notably in the following year.
Exports by Country
Maldives (X kg) was the main destination for vegetable or animal colouring matter exports from Sri Lanka, accounting for a 51% share of total exports. Moreover, vegetable or animal colouring matter exports to Maldives exceeded the volume sent to the second major destination, the UK (X kg), twofold. The third position in this ranking was taken by Canada (X kg), with a 9.4% share.
From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives totaled +32.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+0.6% per year) and Canada (+1.0% per year).
In value terms, the UK ($X) emerged as the key foreign market for vegetable or animal colouring matter exports from Sri Lanka, comprising 53% of total exports. The second position in the ranking was taken by Canada ($X), with a 14% share of total exports. It was followed by Maldives, with a 14% share.
From 2012 to 2021, the average annual rate of growth in terms of value to the UK stood at +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+32.7% per year) and Maldives (+32.7% per year).
Export Prices by Country
The average export price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, shrinking by -11.4% against the previous year. Overall, the export price, however, posted modest growth. The most prominent rate of growth was recorded in 2016 an increase of 47%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Japan ($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 Germany (+216.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Colouring Matter Of Vegetable Or Animal Origin
Imports into Sri Lanka
In 2021, approx. X tons of colouring matter of vegetable or animal origin were imported into Sri Lanka; which is down by -29% against 2020 figures. Over the period under review, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2020 when imports increased by 168% against the previous year. As a result, imports attained the peak of X tons, and then shrank notably in the following year.
In value terms, vegetable or animal colouring matter imports skyrocketed to $X in 2021. Overall, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 45%. Imports peaked in 2021 and are likely to continue growth in the near future.
Imports by Country
India (X tons), Denmark (X tons) and the United States (X tons) were the main suppliers of vegetable or animal colouring matter imports to Sri Lanka, together accounting for 93% of total imports.
From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +40.8%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Denmark ($X) constituted the largest supplier of vegetable or animal colouring matter to Sri Lanka, comprising 71% of total imports. The second position in the ranking was taken by India ($X), with a 5.9% share of total imports. It was followed by the United States, with a 3.8% share.
From 2012 to 2021, the average annual rate of growth in terms of value from Denmark stood at +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+7.8% per year) and the United States (+12.2% per year).
Import Prices by Country
The average import price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, surging by 69% against the previous year. Overall, the import price, however, showed a slight decrease. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.
Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for India ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+48.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for vegetable or animal colouring matter in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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