South-Eastern Asia: Cotton Bag Market 2024

Cotton Bag Market Size in South-Eastern Asia

In 2021, the Southeast Asian cotton bag market decreased by -7.2% to $X for the first time since 2016, thus ending a four-year rising trend. The total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then contracted in the following year.

Cotton Bag Production in South-Eastern Asia

In value terms, cotton bag production contracted to $X in 2021 estimated in export price. The total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +74.1% against 2014 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 33%. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Cotton Bag Exports

Exports in South-Eastern Asia

Cotton bag exports skyrocketed to X tons in 2021, picking up by 30% on 2020. Over the period under review, exports, however, continue to indicate a pronounced slump. The growth pace was the most rapid in 2015 with an increase of 402%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, cotton bag exports skyrocketed to $X in 2021. In general, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of 317% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Philippines represented the key exporting country with an export of around X tons, which accounted for 50% of total exports. Indonesia (X tons) took a 25% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (13%) and Singapore (9.2%). Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to cotton bag exports from the Philippines stood at +22.9%. At the same time, Singapore (+30.1%) and Indonesia (+10.9%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +30.1% from 2012-2021. By contrast, Thailand (-7.4%) and Vietnam (-32.3%) illustrated a downward trend over the same period. While the share of the Philippines (+44 p.p.), Indonesia (+17 p.p.) and Singapore (+8.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-6.6 p.p.) and Vietnam (-62 p.p.) displayed negative dynamics.

In value terms, the Philippines ($X) remains the largest cotton bag supplier in South-Eastern Asia, comprising 57% of total exports. The second position in the ranking was held by Indonesia ($X), with a 16% share of total exports. It was followed by Thailand, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in the Philippines totaled +36.8%. In the other countries, the average annual rates were as follows: Indonesia (+11.4% per year) and Thailand (-8.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, picking up by 17% against the previous year. Overall, the export price, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2019 an increase of 56%. The level of export peaked at $X per ton in 2012; however, from 2013 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 Vietnam ($X per ton), while Indonesia ($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 South-Eastern Asia

In 2021, supplies from abroad of sacks and bags of cotton increased by 12% to X tons, rising for the third year in a row after four years of decline. In general, imports posted moderate growth. The most prominent rate of growth was recorded in 2013 when imports increased by 230% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, cotton bag imports surged to $X in 2021. Overall, imports saw a resilient increase. The growth pace was the most rapid in 2013 with an increase of 62%. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Malaysia (X tons), Indonesia (X tons), Thailand (X tons), Singapore (X tons) and Vietnam (X tons) was the major importer of sacks and bags of cotton in South-Eastern Asia, generating 89% of total import. It was distantly followed by the Philippines (X tons), generating a 5.8% share of total imports. Lao People's Democratic Republic (X tons) took a minor 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, the largest cotton bag importing markets in South-Eastern Asia were Malaysia ($X), Indonesia ($X) and Vietnam ($X), together comprising 73% of total imports.

Among the main importing countries, Malaysia, with a CAGR of +34.9%, saw the highest growth rate of 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

The import price in South-Eastern Asia stood at $X per ton in 2021, with an increase of 9.1% against the previous year. Overall, the import price continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 when the import price increased by 103%. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while Thailand ($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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