Sri Lanka: Market for Frozen Fruits And Vegetables 2024

Market Size for Frozen Fruits And Vegetables in Sri Lanka

In 2022, the Sri Lankan frozen fruits and vegetables market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption saw a resilient increase. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Frozen Fruits And Vegetables in Sri Lanka

In value terms, frozen fruits and vegetables production contracted to $X in 2022 estimated in export price. In general, production saw a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Frozen Fruits And Vegetables

Exports from Sri Lanka

In 2022, overseas shipments of frozen fruits and vegetables decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, posted notable growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at X tons in 2021, and then declined sharply in the following year.

In value terms, frozen fruits and vegetables exports contracted notably to $X in 2022. Over the period under review, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced sharply in the following year.

Exports by Country

Switzerland (X tons), the United States (X tons) and Germany (X tons) were the main destinations of frozen fruits and vegetables exports from Sri Lanka, with a combined X% share of total exports. Maldives, Canada, the UK, France, the United Arab Emirates and Norway lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) remains the key foreign market for frozen fruits and vegetables exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Switzerland amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and the United States (X% per year).

Export Prices by Country

The average frozen fruits and vegetables export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price saw strong growth. The most prominent rate of growth was recorded in 2014 an increase of X%. The export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the United Arab Emirates ($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 Switzerland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fruits And Vegetables

Imports into Sri Lanka

In 2022, approx. X tons of frozen fruits and vegetables were imported into Sri Lanka; waning by X% compared with the previous year's figure. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, frozen fruits and vegetables imports dropped to $X in 2022. Over the period under review, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest frozen fruits and vegetables supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, frozen fruits and vegetables imports from India exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and the Netherlands (X% per year).

In value terms, India ($X) constituted the largest supplier of frozen fruits and vegetables to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Belgium (X% per year).

Import Prices by Country

In 2022, the average frozen fruits and vegetables import price amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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