2022 was a tough year for home care with Sri Lanka experiencing an economic crisis which has led to hyperinflation and severe import restrictions due to a lack of dollars. Local manufacturers were also unable to import sufficient raw materials.
Since the COVID-19 pandemic, consumers in Sri Lanka have taken a keener interest in maintaining thorough hygiene levels. In both rural and urban areas of the country, consumers are increasingly using home care items like dishwashing and surface cleaners, with there being a variety of inexpensive options available.
Due the economic crisis that hit Sri Lanka in 2022, consumers turned their attention to meeting their primary needs, resulting in a sharp fall in the share of the basket value for home care products. While there remained strong demand for dishwashing and laundry care products, consumers looked for cheaper brands and products, while the demand for nice-to-have items like fabric conditioners significantly decreased.
The use of home care appliances like dishwashers and washing machines is seen as essential in some business settings, such as restaurants and hotels. Furthermore, while Sri Lanka experienced an economic crisis during 2022, the household possession rate for both dishwashers and washing machines continued to rise, although it is worth noting that in the case of the former demand is limited to a niche group of wealthy, urban households.
The nationwide fuel scarcity, which was brought on by the nation's low dollar reserves, was one of the key problems created the economic crisis that has affected the country and home care. Product manufacturing was severely impacted by the lack of fuel to run machinery during power outages in 2022.
The future performance of home care will be dependent on the stabilisation of the country’s economy and the ability to access dollars and restore import levels. There is a healthy demand for many home care products within Sri Lanka and therefore as the population grows and incomes improve it is expected that the category will see strong and stable volume growth.
Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Home Care industry in Sri Lanka with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Home Care industry in Sri Lanka, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is the aggregation of laundry care, dishwashing products, surface care, chlorine bleach, toilet care, polishes, air fresheners and insecticides.See All of Our Definitions
This report originates from Passport, our Home Care research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!