Asia: Cotton Bag Market 2024

Cotton Bag Market Size in Asia

In 2021, after six years of growth, there was significant decline in the Asian cotton bag market, when its value decreased by -7.6% to $X. The total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +39.1% against 2013 indices. The level of consumption peaked at $X in 2020, and then contracted in the following year.

Cotton Bag Production in Asia

In value terms, cotton bag production reduced slightly to $X in 2021 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.2% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 33% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Cotton Bag Exports

Exports in Asia

In 2021, the amount of sacks and bags of cotton exported in Asia expanded remarkably to X tons, surging by 6.9% on the previous year. Over the period under review, exports, however, saw a slight contraction. The most prominent rate of growth was recorded in 2019 with an increase of 22% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cotton bag exports soared to $X in 2021. The total export value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Pakistan (X tons) and India (X tons) represented the major exporters of sacks and bags of cotton in Asia, together resulting at near 67% of total exports. It was distantly followed by China (X tons), achieving a 21% share of total exports. The following exporters - Bangladesh (X tons), the Philippines (X tons), Nepal (X tons) and Hong Kong SAR (X tons) - together made up 8.4% of total exports.

From 2012 to 2021, the biggest increases were recorded for Nepal (with a CAGR of +25.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Pakistan ($X) were the countries with the highest levels of exports in 2021, together comprising 82% of total exports. These countries were followed by Hong Kong SAR, the Philippines, Nepal and Bangladesh, which together accounted for a further 12%.

Among the main exporting countries, the Philippines, with a CAGR of +36.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, growing by 34% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.5%. The level of export peaked at $X per ton in 2015; however, from 2016 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 Hong Kong SAR ($X per ton), while Pakistan ($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 Asia

In 2021, supplies from abroad of sacks and bags of cotton increased by 5.4% to X tons, rising for the third consecutive year after four years of decline. Overall, imports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of 33%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, cotton bag imports surged to $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Hong Kong SAR (X tons), Malaysia (X tons), South Korea (X tons), Indonesia (X tons), Thailand (X tons), Singapore (X tons), Vietnam (X tons), China (X tons) and the United Arab Emirates (X tons) represented the key importer of sacks and bags of cotton in Asia, creating 73% of total import. The following importers - Taiwan (Chinese) (X tons), Kuwait (X tons), Oman (X tons) and the Philippines (X tons) - each resulted at an 11% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +32.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Hong Kong SAR ($X) and China ($X) were the countries with the highest levels of imports in 2021, together accounting for 36% of total imports. South Korea, Indonesia, Vietnam, the United Arab Emirates, Singapore, Thailand, Taiwan (Chinese), the Philippines, Kuwait and Oman lagged somewhat behind, together comprising a further 47%.

South Korea, with a CAGR of +36.6%, saw the highest rates of growth with regard to 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 Asia amounted to $X per ton, surging by 15% against the previous year. Over the period under review, the import price enjoyed a strong increase. The most prominent rate of growth was recorded in 2015 when the import price increased by 47% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to see gradual growth in the near future.

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 China ($X per ton), while Oman ($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

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