Snacks in Sri Lanka is seeing a return to retail volume growth amid a shift to healthier options and smaller packs in 2024. Players are trying to limit prices while others launch new products to lure consumers.
In 2024, snacks in Sri Lanka face several commercial issues, including rising prices, albeit slight compared to 2023, and intensifying competition. The Coronavirus (COVID-19) crisis is expected to exert a residual influence on consumer behaviour, with improved nutrition seen as a necessary part of healthier lifestyles.
Supply chain disruptions have plagued the distribution of all fmcg in Sri Lanka, with sharp increases in raw material prices exacerbating pre-existing challenges relating to the procurement of essential raw materials for the production of all types of snacks. This comes at a particularly inopportune time for industry players as demand patterns that that had begun developing during 2022 intensify, specifically the shift towards lower-priced brands and products in smaller pack sizes.
The state of the economy continues to have a strong affect Sri Lankans' snacking and general eating habits in 2024. Snacks are purchased by people from across socioeconomic backgrounds.
In 2024, small local grocers is set to continue to dominate retail value sales of snacks in Sri Lanka. However, supermarkets, hypermarkets and e-commerce are gradually gaining ground.
A number of noteworthy advancements are anticipated in snacks in Sri Lanka. Given local consumers' growing health awareness, a notable shift towards healthier options is anticipated.
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Understand the latest market trends and future growth opportunities for the Snacks 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.
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Snacks
This report originates from Passport, our Snacks research and analysis database.
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