Sri Lanka: Soft Drink Market 2024

Soft Drink Market Size in Sri Lanka

The Sri Lankan soft drink market totaled $X in 2022, increasing by X% against the previous year. Overall, consumption, however, recorded a noticeable setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Soft Drink Production in Sri Lanka

In value terms, soft drink production rose slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible descent. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Soft drink production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Soft Drink Exports

Exports from Sri Lanka

In 2022, exports of soft drinks from Sri Lanka reduced to X litres, declining by X% compared with 2021 figures. Over the period under review, exports, however, showed a strong expansion. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at X litres in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, soft drink exports shrank remarkably to $X in 2022. In general, exports, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X litres) was the main destination for soft drink exports from Sri Lanka, with a X% share of total exports. Moreover, soft drink exports to India exceeded the volume sent to the second major destination, the United States (X litres), more than tenfold. Canada (X litres) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Canada (X% per year).

In value terms, India ($X) emerged as the key foreign market for soft drinks exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

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

Export Prices by Country

In 2022, the average soft drink export price amounted to $X per litre, waning by X% against the previous year. Overall, the export price saw a perceptible downturn. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the average export prices hit record highs at $X per litre in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Maldives ($X per litre) and the United States ($X per litre), while the average price for exports to India ($X per litre) and Canada ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%), while the prices for the other major destinations experienced mixed trend patterns.

Soft Drink Imports

Imports into Sri Lanka

Soft drink imports into Sri Lanka soared to X litres in 2022, jumping by X% compared with 2021 figures. Over the period under review, imports saw a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, soft drink imports skyrocketed to $X in 2022. In general, imports showed buoyant growth. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Austria (X litres) constituted the largest supplier of soft drink to Sri Lanka, with a X% share of total imports. Moreover, soft drink imports from Austria exceeded the figures recorded by the second-largest supplier, Malaysia (X litres), fourfold. The third position in this ranking was held by Vietnam (X litres), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Austria stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Vietnam (X% per year).

In value terms, Austria ($X) constituted the largest supplier of soft drinks to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

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

Import Prices by Country

In 2022, the average soft drink import price amounted to $X per litre, dropping by X% against the previous year. Overall, the import price showed a noticeable contraction. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per litre in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 the United Arab Emirates ($X per litre), while the price for Malaysia ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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