India: Plaits And Basketwork Market 2024

Plaits And Basketwork Market Size in India

In 2022, the Indian plaits and basketwork market decreased by -1.5% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 5.1% against the previous year. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Plaits And Basketwork Production in India

In value terms, plaits and basketwork production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 8.9% against the previous year. Plaits and basketwork production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Plaits And Basketwork Exports

Exports from India

In 2022, approx. X tons of plaits, basketwork, wickerwork and similar products of plaiting materials were exported from India; picking up by 12% compared with 2021 figures. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 116%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, plaits and basketwork exports expanded remarkably to $X in 2022. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2017 with an increase of 84%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for plaits and basketwork exports from India, accounting for a 24% share of total exports. Moreover, plaits and basketwork exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. The UK (X tons) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +51.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+46.6% per year) and the UK (+88.8% per year).

In value terms, the United States ($X) remains the key foreign market for plaits, basketwork, wickerwork and similar products of plaiting materials exports from India, comprising 33% of total exports. The second position in the ranking was taken by the UK ($X), with a 10% share of total exports. It was followed by the Netherlands, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +60.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+91.8% per year) and the Netherlands (+43.4% per year).

Export Prices by Country

The average plaits and basketwork export price stood at $X per ton in 2022, which is down by -1.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 27% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Sri Lanka ($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 (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Plaits And Basketwork Imports

Imports into India

In 2022, imports of plaits, basketwork, wickerwork and similar products of plaiting materials into India skyrocketed to X tons, with an increase of 67% against 2021. Overall, imports posted noticeable growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, plaits and basketwork imports surged to $X in 2022. Over the period under review, imports saw buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 60%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plaits and basketwork to India, accounting for a 73% share of total imports. Moreover, plaits and basketwork imports from China exceeded the figures recorded by the second-largest supplier, Myanmar (X tons), sixfold. Malaysia (X tons) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Myanmar (+44.5% per year) and Malaysia (+28.6% per year).

In value terms, China ($X) constituted the largest supplier of plaits, basketwork, wickerwork and similar products of plaiting materials to India, comprising 50% of total imports. The second position in the ranking was held by Indonesia ($X), with an 11% share of total imports. It was followed by Vietnam, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+16.6% per year) and Vietnam (+10.5% per year).

Import Prices by Country

The average plaits and basketwork import price stood at $X per ton in 2022, reducing by -22.8% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 an increase of 26%. As a result, import price reached the peak level of $X per ton, and then dropped markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+26.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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