Sri Lanka: Canned Meat Market 2024

Canned Meat Market Size in Sri Lanka

The Sri Lankan canned meat market reduced slightly to $X in 2023, approximately mirroring the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Canned Meat Production in Sri Lanka

In value terms, canned meat production dropped modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by X%. Canned meat production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Canned Meat Exports

Exports from Sri Lanka

In 2023, after two years of growth, there was significant decline in shipments abroad of canned meat, when their volume decreased by X% to X tons. Over the period under review, exports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2022, and then shrank rapidly in the following year.

In value terms, canned meat exports dropped remarkably to $X in 2023. Overall, exports, however, showed a prominent expansion. The growth pace was the most rapid in 2022 when exports increased by X%. As a result, the exports reached the peak of $X, and then contracted remarkably in the following year.

Exports by Country

India (X tons), Maldives (X tons) and Japan (X tons) were the main destinations of canned meat exports from Sri Lanka, with a combined X% share of total exports.

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

In value terms, India ($X), Maldives ($X) and Japan ($X) were the largest markets for canned meat exported from Sri Lanka worldwide, together comprising X% of total exports.

Among the main countries of destination, India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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 canned meat export price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price saw a pronounced contraction. The growth pace was the most rapid in 2022 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to the United Arab Emirates ($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 Maldives (X%), while the prices for the other major destinations experienced mixed trend patterns.

Canned Meat Imports

Imports into Sri Lanka

Canned meat imports into Sri Lanka reduced rapidly to X tons in 2023, with a decrease of X% compared with the year before. Over the period under review, imports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2022 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, canned meat imports declined rapidly to $X in 2023. In general, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Malaysia (X tons), Australia (X tons) and Brazil (X tons) were the main suppliers of canned meat imports to Sri Lanka, together accounting for X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Malaysia ($X), Australia ($X) and Brazil ($X) constituted the largest canned meat suppliers to Sri Lanka, with a combined X% share of total imports.

Brazil, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2023, the average canned meat import price amounted to $X per ton, shrinking by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2022, and then declined in the following year.

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

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

Source: IndexBox Platform