Candles And Tapers Market Overview in Sri Lanka
In value terms, candles and tapers production declined to $ in 2019 estimated in export prices. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 when the production volume increased by % year-to-year. Over the period under review, production hit record highs at $ in 2012; however, from 2013 to 2019, production remained at a lower figure.
The value of the candles and tapers market in Sri Lanka declined to $ in 2019, waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of % year-to-year. As a result, consumption reached the peak level of $. From 2018 to 2019, the growth of the market remained at a somewhat lower figure.