Canada: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Canada

The Canadian market for coconut, abaca, ramie and other vegetable textile fibres was estimated at $X in 2022, increasing by 3% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Consumption of peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Canada

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres stood at $X in 2022 estimated in export price. Overall, production, however, showed a slight shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 55%. Production of peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

The average yield of coconut, abaca, ramie and other vegetable textile fibres in Canada reached X tons per ha in 2022, flattening at 2021. Overall, the yield showed modest growth. The pace of growth appeared the most rapid in 2015 when the yield increased by 16%. As a result, the yield attained the peak level of X tons per ha. From 2016 to 2022, the growth of the average yield of coconut, abaca, ramie and other vegetable textile fibres remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of coconut, abaca, ramie and other vegetable textile fibres production in Canada declined modestly to X ha, leveling off at the previous year's figure. Over the period under review, the harvested area recorded a mild curtailment. The pace of growth was the most pronounced in 2016 when the harvested area increased by 13%. The harvested area of coconut, abaca, ramie and other vegetable textile fibres peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports from Canada

In 2022, overseas shipments of coconut, abaca, ramie and other vegetable textile fibres increased by 29% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports recorded a strong increase. The growth pace was the most rapid in 2018 when exports increased by 450% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres skyrocketed to $X in 2022. Overall, exports showed a significant increase. The growth pace was the most rapid in 2018 with an increase of 237%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for exports of coconut, abaca, ramie and other vegetable textile fibres from Canada, with a 93% share of total exports. Moreover, exports of coconut, abaca, ramie and other vegetable textile fibres to the United States exceeded the volume sent to the second major destination, Nigeria (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+123.0% per year) and Italy (+35.0% per year).

In value terms, the United States ($X) remains the key foreign market for coconut, abaca, ramie and other vegetable textile fibres exports from Canada, comprising 96% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 2.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +23.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+117.7% per year) and Italy (+33.9% per year).

Export Prices by Country

In 2022, the average export price for coconut, abaca, ramie and other vegetable textile fibres amounted to $X per ton, rising by 11% against the previous year. Over the period under review, the export price showed tangible growth. The most prominent rate of growth was recorded in 2015 an increase of 59%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.5%), while the prices for the other major destinations experienced a decline.

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports into Canada

In 2022, supplies from abroad of coconut, abaca, ramie and other vegetable textile fibres increased by 3.3% to X tons, rising for the sixth consecutive year after three years of decline. Over the period under review, imports posted a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by 74% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres expanded remarkably to $X in 2022. Overall, imports posted a resilient expansion. The growth pace was the most rapid in 2021 when imports increased by 45% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Sri Lanka (X tons), India (X tons) and the Netherlands (X tons) were the main suppliers of imports of coconut, abaca, ramie and other vegetable textile fibres to Canada, with a combined 96% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +22.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest coconut, abaca, ramie and other vegetable textile fibre suppliers to Canada were Sri Lanka ($X), India ($X) and the Netherlands ($X), with a combined 91% share of total imports.

India, with a CAGR of +26.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, rising by 8.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 48%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform