Consumer goods market thriving
Consumer goods market has become one of the thriving sectors in Sri
Lanka over the years and the rapid growth of the industry has led to a
fierce competition among manufacturers, who are trying to provide
quality products at normal price ranges for local consumers. Bartleet
Religare Securities report said.
In 2010, Fast Moving Consumer Goods (FMCG) market weighted at Rs. 141
billion of which 74% is captured by the food and beverage sector which
also includes the consumption of cigarettes.
Personal care and home care accounted to a 15% and 11% market share
respectively. The consumers' dependence on imported FMCG products has
come down as a result of locally manufacturing good quality substitute
products. In addition, Sri Lankans are reported to shop at least four
times a month compared to consumers in India and Thailand. (IH)
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