Sri Lanka Confectionery Market (2023-2029) | Growth, Share, Industry, Size, Value, Trends, Revenue, Analysis, Segmentation, Outlook & COVID-19 IMPACT

Market Forecast By Type (Sugar, Chocolate, Fine Bakery Wares, Others), By Distribution Channel (Supermarket/Hypermarket, Specialist Retailers, Online Retail Stores, Convenience Stores, Other Distribution Channels), And Competitive Landscape

Product Code: ETC018171 Publication Date: Oct 2020 Updated Date: Feb 2024 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Sri Lanka Confectionery Market Competition 2023


Topics Covered in the Sri Lanka Confectionery Market

Sri Lanka Confectionery Market report thoroughly covers the market by product type and by distribution channel. The Confectionery Market Outlook report provides an unbiased and detailed analysis of the ongoing Confectionery Market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Sri Lanka Confectionery Market Synopsis

Sri Lanka Confectionery Market is projected to grow during the forecast period. The growth of the confectionery market in Sri Lanka is being driven by the growing population, rising disposable incomes, and changing lifestyle patterns. Moreover, there has been a growing trend of health consciousness among consumers which has led to a shift in preference towards healthier alternatives. This trend is providing an opportunity for manufacturers to introduce a new product to cater to the needs of health-conscious consumers. The competition in the market is fragmented with the presence of both small local players and large multinational companies. With government initiatives to boost local production and increased the availability of imported products, the growth of the Sri Lanka Confectionery Industry is anticipated to be further driven by several factors.

According to 6Wresearch, the Sri Lanka Confectionery Market size is estimated to grow at a higher growth rate during 2023-2029. The growth of the confectionery market is propelled by rising disposable incomes, surging population, and changing consumer preferences as the population in Sri Lanka is projected to grow along with the increasing per capita income of the individuals.  This will result in more people having the ability to spend on discretionary products. In addition to this, the changing consumer preferences is another factor driving the Sri Lanka confectionery market growth.  Consumers are becoming health conscious and are looking for healthier alternatives. This has led to manufacturers introducing healthier options such as low-fat and sugar-free products. The growing popularity of Western-style sweets is another factor proliferating the market growth, as it leads to increased demand for such products. However, there are several challenges that are expected to hinder market development. For instance, the impact of the global economic recession, competition from other countries in the region, and taxes imposed by the government on confectionery products. Nevertheless, these challenges are anticipated to be overcome over the projected period owing to the rising disposable incomes among individuals and evolving consumer preferences.

COVID-19 Impact on the Sri Lanka Confectionery Market

The COVID-19 pandemic has had a noteworthy impact on the Confectionery Market in Sri Lanka due to implementing measures to control the epidemic. Moreover, lockdowns and travel restrictions had a negative impact on the economy as well as the confectionery industry. typically, consumers were reducing their expenses which led to decreasing demand for non-essential items, such as candies, gums, chocolates, and sweets. The pandemic has also disrupted the supply chain for the confectionery industry. Irrespective of these challenges, some confectionery manufacturers have adapted to the changing market circumstances by presenting new products and increasing their online presence.

Key Players in the Sri Lanka Confectionery Market

The market is highly competitive and there are several major players in the confectionery market of Sri Lanka, including;

  • Nestle Lanka PLC: Nestle is a global food and beverage company that produces a range of confectionery products including candies, chocolates, and gum.
  • Walkers CML: It is a subsidiary of the diversified corporation, John Keells Holdings, and is one of the leading manufacturers of confectionary in Sri Lanka.
  • Perera and Sons: Perera and Sons is a family-owned confectionery business. They produce a range of sweets, candies, chocolates, and cakes.
  • Lanka Canneries (Pvt) Ltd: Lanka Canneries is a leading manufacturer of canned food products in Sri Lanka. They produce products like jellies and toffees.

Market Analysis by Product Type

According to Ravi Bhandari, Research Head, 6Wresearch, the chocolate segment is anticipated to grow at the fastest growth rate and is expected to lead the Sri Lanka Confectionery Market share over the years. The sugar segment includes candies, toffees, and jellies. This segment has been growing owing to the increasing demand for convenient snacks.

Market Analysis by Distribution Channel

By Distribution Channel, the Supermarket/Hypermarket segment has been growing due to the popularity of one-stop shopping destinations. The Specialist Retailers segment includes independent confectionery stores that offer a premium range of products. While online retail stores segment has been undergoing tremendous growth due to the rising popularity of online shopping. Also, the convenience stores segment is also growing steadily due to the increasing demand for convenient snack options.

Key attractiveness of the report

  • COVID-19 Impact on the Market.
  • 10 Years Market Numbers.
  • Historical Data Starting from 2019 to 2022.
  • Base Year: 2022.
  • Forecast Data until 2029.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report:

  • Sri Lanka Confectionery Market Outlook
  • Market Size of Sri Lanka Confectionery Market, 2022
  • Forecast of Sri Lanka Confectionery Market, 2029
  • Historical Data and Forecast of Sri Lanka Confectionery Revenues & Volume for the Period 2019 - 2029
  • Sri Lanka Confectionery Market Trend Evolution
  • Sri Lanka Confectionery Market Drivers and Challenges
  • Sri Lanka Confectionery Price Trends
  • Sri Lanka Confectionery Porter's Five Forces
  • Sri Lanka Confectionery Industry Life Cycle
  • Historical Data and Forecast of Sri Lanka Confectionery Market Revenues & Volume By Type for the Period 2019 - 2029
  • Historical Data and Forecast of Sri Lanka Confectionery Market Revenues & Volume By Sugar for the Period 2019 - 2029
  • Historical Data and Forecast of Sri Lanka Confectionery Market Revenues & Volume By Chocolate for the Period 2019 - 2029
  • Historical Data and Forecast of Sri Lanka Confectionery Market Revenues & Volume By Fine Bakery Wares for the Period 2019 - 2029
  • Historical Data and Forecast of Sri Lanka Confectionery Market Revenues & Volume By Others for the Period 2019 - 2029
  • Historical Data and Forecast of Sri Lanka Confectionery Market Revenues & Volume By Distribution Channel for the Period 2019 - 2029
  • Historical Data and Forecast of Sri Lanka Confectionery Market Revenues & Volume By Supermarket/Hypermarket for the Period 2019 - 2029
  • Historical Data and Forecast of Sri Lanka Confectionery Market Revenues & Volume By Specialist Retailers for the Period 2019 - 2029
  • Historical Data and Forecast of Sri Lanka Confectionery Market Revenues & Volume By Online Retail Stores for the Period 2019 - 2029
  • Historical Data and Forecast of Sri Lanka Confectionery Market Revenues & Volume By Convenience Stores for the Period 2019 - 2029
  • Historical Data and Forecast of Sri Lanka Confectionery Market Revenues & Volume By Other Distribution Channels for the Period 2019 - 2029
  • Sri Lanka Confectionery Import Export Trade Statistics
  • Market Opportunity Assessment By Type
  • Market Opportunity Assessment By Distribution Channel
  • Sri Lanka Confectionery Top Companies Market Share
  • Sri Lanka Confectionery Competitive Benchmarking By Technical and Operational Parameters
  • Sri Lanka Confectionery Company Profiles
  • Sri Lanka Confectionery Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Type

  • Sugar
  • Chocolate
  • Fine Bakery Wares
  • Others

By Distribution Channel

  • Supermarket/Hypermarket
  • Specialist Retailers
  • Online Retail Stores
  • Convenience Stores
  • Other Distribution Channels
Sri Lanka Confectionery Market: FAQs
In general, rising disposable incomes, rapid urbanization, evolving preferences of consumers, and a growing tourism industry are the major drivers proliferating the growth in the market.
The major products in the market include candies, chocolate, sugar confectionery, gum, and others.
Rising prices of raw materials, taxes imposed by the government, and intense competition are the general factors impeding market growth.
The Sri Lanka confectionery market is expected to grow steadily during the forecast period, driven by growing demand for premium products, the growing popularity of e-commerce, and rising health consciousness among consumers.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
1 Executive Summary
2 Introduction
2.1 Key Highlights of the Report
2.2 Report Description
2.3 Market Scope & Segmentation
2.4 Research Methodology
2.5 Assumptions
3 Sri Lanka Confectionery Market Overview
3.1 Sri Lanka Country Macro Economic Indicators
3.2 Sri Lanka Confectionery Market Revenues & Volume, 2022 & 2029F
3.3 Sri Lanka Confectionery Market - Industry Life Cycle
3.4 Sri Lanka Confectionery Market - Porter's Five Forces
3.5 Sri Lanka Confectionery Market Revenues & Volume Share, By Type, 2022 & 2029F
3.6 Sri Lanka Confectionery Market Revenues & Volume Share, By Distribution Channel, 2022 & 2029F
4 Sri Lanka Confectionery Market Dynamics
4.1 Impact Analysis
4.2 Market Drivers
4.3 Market Restraints
5 Sri Lanka Confectionery Market Trends
6 Sri Lanka Confectionery Market, By Types
6.1 Sri Lanka Confectionery Market, By Type
6.1.1 Overview and Analysis
6.1.2 Sri Lanka Confectionery Market Revenues & Volume, By Type, 2019 - 2029F
6.1.3 Sri Lanka Confectionery Market Revenues & Volume, By Sugar, 2019 - 2029F
6.1.4 Sri Lanka Confectionery Market Revenues & Volume, By Chocolate, 2019 - 2029F
6.1.5 Sri Lanka Confectionery Market Revenues & Volume, By Fine Bakery Wares, 2019 - 2029F
6.1.6 Sri Lanka Confectionery Market Revenues & Volume, By Others, 2019 - 2029F
6.2 Sri Lanka Confectionery Market, By Distribution Channel
6.2.1 Overview and Analysis
6.2.2 Sri Lanka Confectionery Market Revenues & Volume, By Supermarket/Hypermarket, 2019 - 2029F
6.2.3 Sri Lanka Confectionery Market Revenues & Volume, By Specialist Retailers, 2019 - 2029F
6.2.4 Sri Lanka Confectionery Market Revenues & Volume, By Online Retail Stores, 2019 - 2029F
6.2.5 Sri Lanka Confectionery Market Revenues & Volume, By Convenience Stores, 2019 - 2029F
6.2.6 Sri Lanka Confectionery Market Revenues & Volume, By Other Distribution Channels, 2019 - 2029F
7 Sri Lanka Confectionery Market Import-Export Trade Statistics
7.1 Sri Lanka Confectionery Market Export to Major Countries
7.2 Sri Lanka Confectionery Market Imports from Major Countries
8 Sri Lanka Confectionery Market Key Performance Indicators
9 Sri Lanka Confectionery Market - Opportunity Assessment
9.1 Sri Lanka Confectionery Market Opportunity Assessment, By Type, 2022 & 2029F
9.2 Sri Lanka Confectionery Market Opportunity Assessment, By Distribution Channel, 2022 & 2029F
10 Sri Lanka Confectionery Market - Competitive Landscape
10.1 Sri Lanka Confectionery Market Revenue Share, By Companies, 2022
10.2 Sri Lanka Confectionery Market Competitive Benchmarking, By Operating and Technical Parameters
11 Company Profiles
12 Recommendations
13 Disclaimer
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