Sri Lanka Ready to Eat Food Market (2022-2028) | Revenue, Size, Share, Growth, Industry, Outlook, Forecast, Analysis, Trends, Value, Segmentation & COVID-19 IMPACT

Sri Lanka Ready To Eat Food Market Synopsis

The Sri Lanka Ready to Eat Food Market is set to open in March 2019 with a goal of becoming the leading ready-to-eat food market in the region. The market will offer a wide range of products, including fresh produce, meat, seafood and breads. Additionally, the market was launched by the Sri Lanka Export Development Board (SLEDB) and the Sri Lanka Tourism Development Authority (SLTDA) in collaboration with private companies and local businesses. It is hoped that the market will help to boost tourism in Sri Lanka and create jobs for locals. The Sri Lanka Ready To Eat Food market is a part of the Asia Pacific (APAC) Ready To Eat Food Market. 

According to 6Wresearch, the Sri Lanka ready to eat food Market size is likely to witness growth during 2022-28. The market is mainly driven by the increasing demand for healthy and convenient food options, as well as the increasing trend of dining out. The ready-to-eat food segment is projected to grow at a higher rate than the rest of the food market, owing to its convenience and portability. The ready-to-eat food market in Sri Lanka is dominated by chicken, fish, mutton, eggs, and beverages. The chicken segment dominates the overall market share with a share of over 60%. The fish segment is second in terms of market share with a share of over 28%. Mutton and eggs are third and fourth in terms of market share, respectively.

Market Analysis By Product Type

The Ready to Eat Food Market in Sri Lanka offers a variety of food products that are prepared fresh daily. Some of the most popular items include chapati (a type of flatbread), pittu (a type of savory dish), vada pav (a type of street food), curries, rice dishes, naan breads, rotis (flatbreads), dosas (crepes), and chutneys. Further, the Ready to Eat Food Market in Sri Lanka provides low-cost alternatives for consumers who want to make their own meals at home. Vendors at the market sell ingredients such as spices, oil, masala powder, ghee (clarified butter), lentils, potatoes, and onions.

Market Analysis By Competitive Landscape

The Sri Lanka Ready to Eat Food Market is currently dominated by three main players: T&T Foods Holdings, Lanka Foodservice and Greefood. T&T Foods Holdings is the largest player in the market, with a share of approximately 50% market share. Lanka Foodservice is second largest with a share of about 28% market share, while Greefood has a share of about 15% market share. There are also a number of smaller players in the market, Home-Made Foods is one of the pioneers in the Sri Lankan ready to eat food sector and has been operating since 1998. Roti King is a small operator with focus on bakery products. Spice Kitchen specializes in spices and sauces for cuisine

COVID-19 Influence on the Sri Lanka Ready To Eat Food Market 

The Covid-19 outbreak has caused severe implications on the growth of the market. Currently, increasing demand from tourists and travelers in Sri Lanka for food products that are ready to eat, thereby augmenting the overall demand for such products. Growing trend of wellness tourism in Sri Lanka is expected to increase the demand for healthy food options among visitors. Further, increasing inclination towards healthier eating patterns among consumers in Sri Lanka, which is expected to boost the demand for foods and drinks with health benefits.

Key Attractiveness of the Report

• COVID-19 Influence on the Market Dynamics.
• 10 Years of Market Data.
• Historical Numbers from 2018 to 2021.
• Base Year: 2021
• Market Forecast Data Until 2028
• Key Performance Indicators Influencing the Market.
• Key Developments and Projects.

Key Highlights of the Report:

• Sri Lanka Ready to Eat Food Market Overview
• Sri Lanka Ready to Eat Food Market Outlook
• Sri Lanka Ready to Eat Food Market Forecast
• Sri Lanka Ready to Eat Food Market Size and Sri Lanka Ready to Eat Food Market Forecast until 2028
• Sri Lanka Ready to Eat Food Market Share, By Types
• Sri Lanka Ready to Eat Food Market Share, By Product
• Sri Lanka Ready to Eat Food Market Share, By Distribution Channels
• Sri Lanka Ready to Eat Food Market Share, By Region
• Historical Data of Sri Lanka Ready to Eat Food Market Revenues and Volume for the period, 2018-2028
• Market size and Forecast of Sri Lanka Ready to Eat Food Market Revenues and Volume until 2028
• Historical Data of Sri Lanka Ready to Eat Food Market Revenues and Volume, By Product Types, for the Period 2018-2028
• Market size and Forecast of Sri Lanka Ready to Eat Food Market Revenues and Volume, By Product Types, until 2028
• Historical Data of Sri Lanka Ready to Eat Food Market Revenues and Volume, By Distribution Channels, for the Period 2018-2028
• Market size and Forecast of Sri Lanka Ready to Eat Food Market Revenues and Volume, By Distribution Channels, until 2028
• Historical Data of Sri Lanka Ready to Eat Food Market Revenues and Volume, By Region, for the Period 2018-2028
• Market size and Forecast of Sri Lanka Ready to Eat Food Market Revenues and Volume, By Region, until 2028
• Sri Lanka Ready to Eat Food Market Drivers and Restraints
• Sri Lanka Ready to Eat Food Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Sri Lanka Ready to Eat Food Market Opportunity Assessment
• Sri Lanka Ready to Eat Food Market Revenue Share, By Company
• Sri Lanka Ready to Eat Food Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The report provides a broad study of the subsequent market segments:

By Product Type

• Instant Breakfast/Cereals
• Instant Soups and Snacks
• Ready Meals 
• Baked Goods
• Meat Products & Others

By Distribution Channel

• Hypermarkets/Supermarkets
• Online Retail Stores
• Convenience Stores
• Others