Report Update: Apr 1, 2024

Sri Lanka - Animal And Pet Feed - Market Analysis, Forecast, Size, Trends And Insights

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Animal Feed Price in Sri Lanka - 2021

Animal Feed Price in Sri Lanka (FOB) - 2022

The average animal feed export price stood at $1,888 per ton in 2022, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. The pace of growth was the most pronounced in 2019 when the average export price increased by 70% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($1,939 per ton), while the average price for exports to Maldives amounted to $257 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (+3.9%), while the prices for the other major destinations experienced mixed trend patterns.

Animal Feed Price in Sri Lanka (CIF) - 2022

In 2022, the average animal feed import price amounted to $1,344 per ton, rising by 21% against the previous year. Overall, the import price, however, continues to indicate a pronounced contraction. The pace of growth was the most pronounced in 2021 when the average import price increased by 26%. Over the period under review, average import prices reached the maximum at $1,655 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 ($14,400 per ton), while the price for the United States ($554 per ton) 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 (+88.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Animal Feed Exports in Sri Lanka

For the fourth consecutive year, Sri Lanka recorded growth in overseas shipments of animal and pet feed, which increased by 4.5% to 64K tons in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +15.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.1% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 27%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, animal feed exports expanded sharply to $120M in 2022. In general, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +16.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 34%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Export of Animal Feed in Sri Lanka (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	72.6	81.1	109	115	16.6%
Bangladesh	1.3	1.5	2.4	1.8	11.5%
Malaysia	0.9	0.7	1.0	0.9	0.0%
Others	0.6	2.0	2.0	2.1	51.8%
Total	75.5	85.3	114	120	16.7%

Top Export Markets for Animal Feed from Sri Lanka in 2022:

India (59.5K tons)
Malaysia (0.9K tons)
Bangladesh (0.6K tons)

Animal Feed Imports in Sri Lanka

In 2022, supplies from abroad of animal and pet feed decreased by -39.9% to 35K tons, falling for the second year in a row after two years of growth. Overall, imports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 7.7% against the previous year. As a result, imports attained the peak of 58K tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, animal feed imports contracted dramatically to $47M in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 26% against the previous year. As a result, imports attained the peak of $64M, and then dropped sharply in the following year.

Import of Animal Feed in Sri Lanka (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Vietnam	4.1	6.7	11.2	10.8	38.1%
Thailand	4.9	4.9	8.4	8.0	17.8%
India	5.4	4.4	9.3	7.1	9.6%
Malaysia	6.2	6.7	1.6	3.8	-15.1%
China	3.7	3.7	4.4	3.3	-3.7%
United States	9.1	8.7	10.0	2.9	-31.7%
Singapore	3.3	3.3	4.1	1.6	-21.4%
Spain	1.7	1.9	4.1	1.3	-8.6%
Others	8.2	10.8	11.1	8.0	-0.8%
Total	46.6	51.1	64.3	46.8	0.1%

Top Suppliers of Animal Feed to Sri Lanka in 2022:

Vietnam (9.1K tons)
Thailand (6.7K tons)
India (5.2K tons)
United States (5.2K tons)
Malaysia (3.0K tons)
China (2.3K tons)
Spain (1.0K tons)
Singapore (0.4K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the animal feed 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:

Prodcom 10911010 - Premixtures for farm animal feeds
Prodcom 10911033 - Preparations used for farm animal feeding (excluding premixtures): pigs
Prodcom 10911035 - Preparations used for farm animal feeding (excluding premixtures): cattle
Prodcom 10911037 - Preparations used for farm animal feeding (excluding premixtures): poultry
Prodcom 10921060 - Preparations used for feeding pets (excluding preparations for cats or dogs, p.r.s.)

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