ASEAN: Cotton Bag Market 2025

Cotton Bag Market Size in ASEAN

In 2021, the ASEAN cotton bag market decreased by -7.2% to $X for the first time since 2016, thus ending a four-year rising trend. The total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2020, and then contracted in the following year.

Cotton Bag Production in ASEAN

In value terms, cotton bag production contracted to $X in 2021 estimated in export price. The total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.2% 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 +74.1% against 2014 indices. The growth pace was the most rapid in 2017 when the production volume increased by 33%. Over the period under review, production attained the maximum level at $X in 2020, and then dropped in the following year.

Cotton Bag Exports

Exports in ASEAN

In 2021, approx. X tons of sacks and bags of cotton were exported in ASEAN; jumping by 30% on 2020. Overall, exports, however, continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 402%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, cotton bag exports surged to $X in 2021. Over the period under review, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 317%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Philippines represented the key exporter of sacks and bags of cotton in ASEAN, with the volume of exports reaching X tons, which was near 50% of total exports in 2021. Indonesia (X tons) ranks second in terms of the total exports with a 25% share, followed by Thailand (13%) and Singapore (9.2%). Vietnam (X tons) followed a long way behind the leaders.

Exports from the Philippines increased at an average annual rate of +22.9% from 2012 to 2021. At the same time, Singapore (+30.1%) and Indonesia (+10.9%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +30.1% from 2012-2021. By contrast, Thailand (-7.4%) and Vietnam (-32.3%) illustrated a downward trend over the same period. While the share of the Philippines (+44 p.p.), Indonesia (+17 p.p.) and Singapore (+8.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-6.6 p.p.) and Vietnam (-62 p.p.) displayed negative dynamics.

In value terms, the Philippines ($X) remains the largest cotton bag supplier in ASEAN, comprising 57% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 16% share of total exports. It was followed by Thailand, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the Philippines amounted to +36.8%. In the other countries, the average annual rates were as follows: Indonesia (+11.4% per year) and Thailand (-8.7% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, increasing by 17% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2019 when the export price increased by 56%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+11.3%), while the other leaders experienced more modest paces of growth.

Cotton Bag Imports

Imports in ASEAN

In 2021, supplies from abroad of sacks and bags of cotton increased by 12% to X tons, rising for the third consecutive year after four years of decline. Over the period under review, imports saw a moderate increase. The pace of growth was the most pronounced in 2013 when imports increased by 230% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, cotton bag imports soared to $X in 2021. Overall, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 62%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

The purchases of the five major importers of sacks and bags of cotton, namely Malaysia, Indonesia, Thailand, Singapore and Vietnam, represented more than two-thirds of total import. It was distantly followed by the Philippines (X tons), creating a 5.8% share of total imports. Lao People's Democratic Republic (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Malaysia (with a CAGR of +32.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cotton bag importing markets in ASEAN were Malaysia ($X), Indonesia ($X) and Vietnam ($X), together accounting for 73% of total imports.

Malaysia, with a CAGR of +34.9%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, surging by 9.1% against the previous year. In general, the import price posted a resilient increase. The most prominent rate of growth was recorded in 2016 an increase of 103%. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+44.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform