Report Update Apr 1, 2024

Sri Lanka - Vanilla - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Vanilla Market 2024

Vanilla Market Size in Sri Lanka

The Sri Lankan vanilla market amounted to $X in 2022, flattening at 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 recorded a pronounced descent. Vanilla consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Vanilla Exports

Exports from Sri Lanka

Vanilla exports from Sri Lanka totaled less than X kg in 2022, approximately mirroring the previous year's figure. In general, exports recorded a precipitous decline. The smallest decline of X% was in 2016. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, vanilla exports fell to $X in 2022. Over the period under review, total exports indicated moderate growth from 2015 to 2022: its value increased at an average annual rate of X% over the last seven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Canada (X kg), Italy (X kg) and Japan (X kg) were the main destinations of vanilla exports from Sri Lanka, together accounting for X% of total exports.

From 2015 to 2016, the biggest increases were recorded for Japan (with a CAGR of X.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) emerged as the key foreign market for vanilla exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by Sweden, with a X% share.

From 2015 to 2016, the average annual rate of growth in terms of value to Italy amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X.3% per year) and Sweden (X% per year).

Export Prices by Country

In 2016, the average vanilla export price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price showed significant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2016, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Norway ($X per ton) was amongst the lowest.

From 2015 to 2016, the most notable rate of growth in terms of prices was recorded for supplies to Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Vanilla Imports

Imports into Sri Lanka

In 2022, imports of vanilla into Sri Lanka totaled X kg, leveling off at 2021 figures. In general, imports recorded a deep downturn. The growth pace was the most rapid in 2014 with an increase of X%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, vanilla imports expanded remarkably to $X in 2022. Overall, imports showed a deep setback. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X kg) constituted the largest supplier of vanilla to Sri Lanka, with a X% share of total imports. Moreover, vanilla imports from the United States exceeded the figures recorded by the second-largest supplier, India (X kg), sixfold. Malaysia (X kg) ranked third in terms of total imports with a X% share.

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

In value terms, the United States ($X) constituted the largest supplier of vanilla to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by Indonesia ($X), with an X% share of total imports. It was followed by Hong Kong SAR, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

The average vanilla import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, showed a slight descent. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a 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 France ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for vanilla in the world?

The countries with the highest volumes of consumption in 2023 were Indonesia, the United States and France, with a combined 55% share of global consumption. Mexico, China, the UK, Syrian Arab Republic, Germany, the Dominican Republic and Uganda lagged somewhat behind, together accounting for a further 24%.

What are the largest producers of vanilla in the world?

The countries with the highest volumes of production in 2022 were Madagascar, Indonesia and Mexico, together accounting for 68% of global production.

What are the leading suppliers of vanilla to Sri Lanka?

In value terms, the United States $128) constituted the largest supplier of vanilla to Sri Lanka, comprising 57% of total imports. The second position in the ranking was held by Indonesia $40), with an 18% share of total imports. It was followed by Hong Kong SAR, with an 8.9% share.

What are the leading importers of vanilla from Sri Lanka?

In value terms, Italy emerged as the key foreign market for vanilla exports from Sri Lanka, comprising 15% of total exports. The second position in the ranking was held by Japan, with a 6.3% share of total exports. It was followed by Sweden, with a 3.4% share.

What is the average export price for vanilla in Sri Lanka?

In 2016, the average vanilla export price amounted to $172,000 per ton, with an increase of 826% against the previous year.

What is the average import price for vanilla in Sri Lanka?

In 2022, the average vanilla import price amounted to $10,227 per ton, surging by 5.1% against the previous year.

This report provides an in-depth analysis of the vanilla market 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.

Product coverage:

FCL 692 - Vanilla

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023