ASEAN: Twig Broom Market 2024

Twig Broom Market Size in ASEAN

In 2021, the ASEAN twig broom market decreased by -21.7% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2020, and then dropped remarkably in the following year.

Twig Broom Production in ASEAN

In value terms, twig broom production contracted remarkably to $X in 2021 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +63.2% against 2018 indices. The growth pace was the most rapid in 2020 with an increase of 49%. As a result, production attained the peak level of $X, and then shrank significantly in the following year.

Twig Broom Exports

Exports in ASEAN

For the third year in a row, ASEAN recorded growth in shipments abroad of brooms and brushes of twigs, which increased by 1.2% to X units in 2021. In general, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 46%. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, twig broom exports expanded markedly to $X in 2021. Overall, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 69%. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

Exports by Country

In 2021, Indonesia (X units), the Philippines (X units) and Myanmar (X units) represented the main exporter of brooms and brushes of twigs in ASEAN, generating 74% of total export. It was distantly followed by Malaysia (X units), Thailand (X units) and Vietnam (X units), together generating a 25% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Philippines (with a CAGR of +65.3%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), the Philippines ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2021, together comprising 83% of total exports.

The Philippines, with a CAGR of +74.3%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, picking up by 4.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2020 an increase of 16% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+7.0%), while the other leaders experienced more modest paces of growth.

Twig Broom Imports

Imports in ASEAN

In 2021, supplies from abroad of brooms and brushes of twigs decreased by -43.2% to X units, falling for the fifth year in a row after two years of growth. In general, imports, however, showed slight growth. The pace of growth appeared the most rapid in 2015 with an increase of 82% against the previous year. The volume of import peaked at X units in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, twig broom imports shrank significantly to $X in 2021. Overall, imports, however, continue to indicate noticeable growth. The most prominent rate of growth was recorded in 2015 with an increase of 61% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Philippines (X units) represented the major importer of brooms and brushes of twigs, constituting 58% of total imports. Malaysia (X units) held the second position in the ranking, distantly followed by Vietnam (X units) and Thailand (X units). All these countries together took approx. 38% share of total imports. Singapore (X units) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to twig broom imports into the Philippines stood at +8.5%. At the same time, Vietnam (+59.4%) and Malaysia (+4.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +59.4% from 2012-2021. By contrast, Thailand (-16.2%) and Singapore (-17.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Philippines, Vietnam and Malaysia increased by +25, +7.1 and +5.6 percentage points, respectively.

In value terms, the largest twig broom importing markets in ASEAN were the Philippines ($X), Vietnam ($X) and Malaysia ($X), together comprising 86% of total imports.

Vietnam, with a CAGR of +68.1%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per unit, surging by 8.5% against the previous year. Import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, twig broom import price increased by +93.6% against 2016 indices. The most prominent rate of growth was recorded in 2019 when the import price increased by 23% against the previous year. The level of import peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+11.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform