Convenience Meets Tradition

The food processing industry in Sri Lanka is in a growth phase and this is due to the factors such as urbanization, increase in disposable income, consumers’ preference to ready to eat foods. This market expansion has been boosted by the government policies towards increasing the food security and also exportation of food products. The country’s favorable location in the Indian Ocean together with a strong agriculture base creates a favorable platform for the food processing industry. The country has a diverse bio-diversity of raw materials ranging from fruits, nuts and spices which are vital in several food processing. Also, the government has placed emphasis on the establishment of agro-based industries and this has resulted in a lot of investments being made, hence encouraging value addition and minimizing on losses which could have been occasioned by over production. The ready-to-eat and packaged foods have received a positive response from the urban customers hence boosting the processed food segment.

Further, the food processing market of Sri Lanka is expanding with the help of technological and innovative factors. Use of modern processing methodologies and machinery has enhanced the processing and quality of food products. Businesses are focusing on innovation to produce new food items to meet the changing palate of the customers such as healthy and natural foods. Export possibilities are also instrumental in the market development process. The government’s attempt to market these exports through trade relations and the participation in international food expos have also created additional markets for Sri Lankan products.

It is with the view of staying updated with the growing trends in this business landscape that Asia Business Outlook has drawn a list of select few companies that have demonstrated their capability through their expertise. To strengthen this business landscape of the country with their tightly-knit and result-oriented approach, they are setting new standards of effectiveness.

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