Sri Lanka: Market for Prepared Dishes and Meals 2024

Market Size for Prepared Dishes and Meals in Sri Lanka

The Sri Lankan prepared dishes and meal market expanded rapidly to $X in 2023, growing by X% against the previous year. Over the period under review, the total consumption indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Production of Prepared Dishes and Meals in Sri Lanka

In value terms, prepared dishes and meal production rose to $X in 2023 estimated in export price. In general, production saw strong growth. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Exports of Prepared Dishes and Meals

Exports from Sri Lanka

In 2023, after seven years of growth, there was decline in shipments abroad of prepared dishes and meals, when their volume decreased by X% to X tons. Over the period under review, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at X tons in 2022, and then reduced in the following year.

In value terms, prepared dishes and meal exports fell modestly to $X in 2023. Overall, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2022, and then fell in the following year.

Exports by Country

The Netherlands (X tons), Germany (X tons) and the United States (X tons) were the main destinations of prepared dishes and meal exports from Sri Lanka, with a combined X% share of total exports. The UK, Australia, Sweden, Denmark, Norway and Switzerland lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for prepared dishes and meal exported from Sri Lanka were the Netherlands ($X), Germany ($X) and the United States ($X), with a combined X% share of total exports. The UK, Australia, Sweden, Switzerland, Norway and Denmark lagged somewhat behind, together comprising a further X%.

Denmark, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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

In 2023, the average prepared dishes and meal export price amounted to $X per ton, stabilizing at the previous year. Overall, the export price continues to indicate a slight decline. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Dishes and Meals

Imports into Sri Lanka

In 2023, the amount of prepared dishes and meals imported into Sri Lanka soared to X tons, surging by X% against 2022 figures. In general, imports enjoyed strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, prepared dishes and meal imports amounted to $X in 2023. Over the period under review, imports enjoyed strong growth. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, Denmark (X tons) constituted the largest supplier of prepared dishes and meal to Sri Lanka, with a X% share of total imports. Moreover, prepared dishes and meal imports from Denmark exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The third position in this ranking was held by Belgium (X tons), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Denmark totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Belgium (X% per year).

In value terms, the largest prepared dishes and meal suppliers to Sri Lanka were Denmark ($X), the UK ($X) and Germany ($X), together comprising X% of total imports. China, Malaysia, Australia, Israel, Belgium and the Netherlands lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Belgium, with a CAGR of X%, 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 prepared dishes and meal import price stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, import price indicated modest growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked at $X per ton in 2022, and then contracted significantly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform