Asia: Twig Broom Market 2024

Twig Broom Market Size in Asia

The Asian twig broom market rose slightly to $X in 2021, with an increase of 1.9% against the previous year. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Twig Broom Production in Asia

In value terms, twig broom production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 23%. As a result, production reached the peak level of $X, and then declined in the following year.

Twig Broom Exports

Exports in Asia

In 2021, after two years of growth, there was significant decline in overseas shipments of brooms and brushes of twigs, when their volume decreased by -8.8% to X units. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when exports increased by 49%. The volume of export peaked at X units in 2020, and then fell in the following year.

In value terms, twig broom exports rose slightly to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +63.8% against 2018 indices. The growth pace was the most rapid in 2020 when exports increased by 26% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in years to come.

Exports by Country

Sri Lanka was the key exporting country with an export of around X units, which finished at 37% of total exports. China (X units) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by India (9.1%), Indonesia (7.3%), the Philippines (6.9%) and Myanmar (5.2%). Malaysia (X units) followed a long way behind the leaders.

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, Sri Lanka ($X), China ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 64% of total exports. These countries were followed by the Philippines, India, Myanmar and Malaysia, which together accounted for a further 21%.

The Philippines, with a CAGR of +74.3%, recorded the highest growth rate of 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 Asia stood at $X per unit in 2021, surging by 15% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.5%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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 Indonesia (+6.3%), while the other leaders experienced more modest paces of growth.

Twig Broom Imports

Imports in Asia

In 2021, overseas purchases of brooms and brushes of twigs decreased by -16.6% to X units, falling for the fifth year in a row after five years of growth. Total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -43.9% against 2016 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 40%. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, twig broom imports amounted to $X in 2021. The total import value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 19%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, the Philippines (X units), India (X units), Japan (X units), South Korea (X units), Kyrgyzstan (X units), Malaysia (X units), Taiwan (Chinese) (X units), the United Arab Emirates (X units) and China (X units) was the major importer of brooms and brushes of twigs in Asia, making up 83% of total import.

From 2012 to 2021, the biggest increases were recorded for Kyrgyzstan (with a CAGR of +43.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest twig broom importing markets in Asia were Japan ($X), India ($X) and South Korea ($X), with a combined 60% share of total imports. These countries were followed by the Philippines, Taiwan (Chinese), the United Arab Emirates, Malaysia, Kyrgyzstan and China, which together accounted for a further 21%.

In terms of the main importing countries, Kyrgyzstan, with a CAGR of +33.3%, saw the highest rates of growth with regard to the value of imports, 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 Asia amounted to $X per unit, jumping by 20% against the previous year. Import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, twig broom import price increased by +82.7% against 2016 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Japan ($X per unit), while Kyrgyzstan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+16.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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