Ireland: Cotton Bag Market 2024

Cotton Bag Market Size in Ireland

The Irish cotton bag market totaled $X in 2021, stabilizing at the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Cotton Bag Production in Ireland

In value terms, cotton bag production reduced dramatically to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 972%. Over the period under review, production reached the peak level at $X in 2020, and then declined sharply in the following year.

Cotton Bag Exports

Exports from Ireland

In 2021, shipments abroad of sacks and bags of cotton decreased by -22.2% to X kg, falling for the third consecutive year after three years of growth. Overall, exports showed a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 311%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cotton bag exports soared to $X in 2021. Over the period under review, exports continue to indicate a abrupt decline. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X kg) was the main destination for cotton bag exports from Ireland, with a 38% share of total exports. Moreover, cotton bag exports to the United States exceeded the volume sent to the second major destination, the UK (X kg), twofold. China (X kg) ranked third in terms of total exports with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +51.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-27.1% per year) and China (+39.3% per year).

In value terms, the United States ($X) emerged as the key foreign market for sacks and bags of cotton exports from Ireland, comprising 59% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 12% share of total exports. It was followed by China, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +59.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (0.0% per year) and China (+36.9% per year).

Export Prices by Country

The average cotton bag export price stood at $X per ton in 2021, picking up by 205% against the previous year. Overall, the export price saw a remarkable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+97.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Bag Imports

Imports into Ireland

In 2021, the amount of sacks and bags of cotton imported into Ireland surged to X tons, rising by 75% compared with 2020 figures. Overall, imports, however, showed a abrupt decline. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, cotton bag imports soared to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), India (X tons) and the UK (X tons) were the main suppliers of cotton bag imports to Ireland, together accounting for 87% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +173.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and the UK ($X) constituted the largest cotton bag suppliers to Ireland, together comprising 74% of total imports.

India, with a CAGR of +144.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cotton bag import price amounted to $X per ton, falling by -14.6% against the previous year. Over the period under review, the import price, however, showed a remarkable increase. The growth pace was the most rapid in 2013 an increase of 39% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Pakistan ($X per ton), while the price for India ($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 UK (+10.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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