Hobby & Leisure market in Sri Lanka

The Sri Lankan Musical Instruments eCommerce market is predicted to reach US$17.4 million by 2024 and accounts for 3.5% of the Hobby & Leisure eCommerce market in Sri Lanka. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 4.9%, resulting in a projected market volume of US$21.1 million by 2028. The Musical Instruments eCommerce market is a sub-market of the Hobby & Leisure market. Further categories within the Hobby & Leisure market are: Bullion & Precious Metal, Camping & Adventure, Erotic & Adult, Flowers & Gifts, Media, Other Hobby & Leisure, Pet Supplies, Smoking Supplies, Sports Equipment, Stationery, Crafts & Art Supplies, and Toys.

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Sri Lankan Musical Instruments retail market, the online share is 3.4% and will increase by an average of 7.8% to 4.5% by 2028.