Southern Asia: Artificial Fur Market 2025

Artificial Fur Market Size in Southern Asia

The South Asian artificial fur market contracted markedly to $X in 2022, falling by -56.1% against the previous year. Overall, consumption continues to indicate a abrupt downturn. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Artificial Fur Production in Southern Asia

In value terms, artificial fur production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 22% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Artificial Fur Exports

Exports in Southern Asia

After three years of growth, overseas shipments of artificial fur decreased by -59.8% to X tons in 2022. Overall, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 336%. Over the period under review, the exports attained the maximum at X tons in 2021, and then declined remarkably in the following year.

In value terms, artificial fur exports surged to $X in 2022. Over the period under review, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2014 when exports increased by 231%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Bangladesh represented the key exporter of artificial fur in Southern Asia, with the volume of exports reaching X tons, which was near 73% of total exports in 2022. Pakistan (X tons) took the second position in the ranking, followed by India (X tons). All these countries together held near 25% share of total exports.

Bangladesh was also the fastest-growing in terms of the artificial fur exports, with a CAGR of +15.1% from 2012 to 2022. Pakistan experienced a relatively flat trend pattern. India (-2.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bangladesh increased by +34 percentage points.

In value terms, Bangladesh ($X) remains the largest artificial fur supplier in Southern Asia, comprising 86% of total exports. The second position in the ranking was held by Pakistan ($X), with an 8.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Bangladesh amounted to +27.5%. In the other countries, the average annual rates were as follows: Pakistan (-6.8% per year) and India (+1.5% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, picking up by 229% against the previous year. Over the period under review, the export price continues to indicate a temperate increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+10.7%), while the other leaders experienced mixed trends in the export price figures.

Artificial Fur Imports

Imports in Southern Asia

Artificial fur imports skyrocketed to X tons in 2022, growing by 54% against the previous year's figure. Overall, imports, however, continue to indicate a slight contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 80%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, artificial fur imports surged to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 130%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

India represented the main importer of artificial fur in Southern Asia, with the volume of imports finishing at X tons, which was near 72% of total imports in 2022. Sri Lanka (X tons) ranks second in terms of the total imports with a 12% share, followed by Bangladesh (8.3%) and Maldives (4.7%). Pakistan (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to artificial fur imports into India stood at -2.3%. At the same time, Sri Lanka (+38.6%), Maldives (+21.2%) and Bangladesh (+5.8%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +38.6% from 2012-2022. By contrast, Pakistan (-18.4%) illustrated a downward trend over the same period. While the share of Sri Lanka (+11 p.p.), Bangladesh (+4.4 p.p.) and Maldives (+4.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of India (-3.6 p.p.) and Pakistan (-11.1 p.p.) displayed negative dynamics.

In value terms, India ($X), Sri Lanka ($X) and Bangladesh ($X) were the countries with the highest levels of imports in 2022, together accounting for 90% of total imports.

In terms of the main importing countries, Sri Lanka, with a CAGR of +39.7%, 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 2022, the import price in Southern Asia amounted to $X per ton, growing by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2017 when the import price increased by 27%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+0.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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