Eastern Asia: Cotton Bag Market 2025

Cotton Bag Market Size in Eastern Asia

In 2021, the East Asian cotton bag market decreased by less than 0.1% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2020, and then contracted modestly in the following year.

Cotton Bag Production in Eastern Asia

In value terms, cotton bag production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 14%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Cotton Bag Exports

Exports in Eastern Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of sacks and bags of cotton, when their volume increased by 14% to X tons. Total exports indicated modest growth from 2012 to 2021: its volume 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, exports decreased by -33.0% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 33% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, cotton bag exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, resulting at X tons, which was approx. 92% of total exports in 2021. It was distantly followed by Hong Kong SAR (X tons), making up a 7% share of total exports.

China was also the fastest-growing in terms of the sacks and bags of cotton exports, with a CAGR of +2.5% from 2012 to 2021. Hong Kong SAR (-5.9%) illustrated a downward trend over the same period. China (+6.8 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -7% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest cotton bag supplier in Eastern Asia, comprising 89% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 8.7% share of total exports.

In China, cotton bag exports expanded at an average annual rate of +4.9% over the period from 2012-2021.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, picking up by 18% against the previous year. Over the last nine years, it increased at an average annual rate of +2.0%. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.3%).

Cotton Bag Imports

Imports in Eastern Asia

In 2021, cotton bag imports in Eastern Asia totaled X tons, picking up by 7.3% against 2020 figures. In general, imports, however, recorded a perceptible contraction. The growth pace was the most rapid in 2014 with an increase of 27%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, cotton bag imports surged to $X in 2021. Over the period under review, imports, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 22%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Hong Kong SAR (X tons) was the key importer of sacks and bags of cotton, creating 41% of total imports. South Korea (X tons) ranks second in terms of the total imports with a 26% share, followed by China (18%), Taiwan (Chinese) (8.8%) and Japan (4.8%).

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +31.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cotton bag importing markets in Eastern Asia were Hong Kong SAR ($X), China ($X) and South Korea ($X), with a combined 81% share of total imports.

Among the main importing countries, South Korea, with a CAGR of +36.6%, recorded 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 Eastern Asia amounted to $X per ton, rising by 8.7% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 22%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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