Southern Asia: Twig Broom Market 2024

Twig Broom Market Size in Southern Asia

In 2021, after two years of growth, there was decline in the South Asian twig broom market, when its value decreased by -0.2% to $X. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Twig Broom Production in Southern Asia

In value terms, twig broom production totaled $X in 2021 estimated in export price. The total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.6% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 55%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Twig Broom Exports

Exports in Southern Asia

In 2021, shipments abroad of brooms and brushes of twigs increased by 3.9% to X units, rising for the third year in a row after two years of decline. Over the period under review, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2015 when exports increased by 158% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, twig broom exports surged to $X in 2021. Overall, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2015 with an increase of 103%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Sri Lanka represented the largest exporter of brooms and brushes of twigs in Southern Asia, with the volume of exports resulting at X units, which was approx. 76% of total exports in 2021. It was distantly followed by India (X units), committing a 19% share of total exports. Pakistan (X units) followed a long way behind the leaders.

Exports from Sri Lanka increased at an average annual rate of +12.7% from 2012 to 2021. At the same time, Pakistan (+32.3%) and India (+8.1%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +32.3% from 2012-2021. While the share of Sri Lanka (+3.6 p.p.) and Pakistan (+3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of India (-7.3 p.p.) displayed negative dynamics.

In value terms, Sri Lanka ($X) remains the largest twig broom supplier in Southern Asia, comprising 84% of total exports. The second position in the ranking was held by India ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Sri Lanka amounted to +12.0%. The remaining exporting countries recorded the following average annual rates of exports growth: India (+8.8% per year) and Pakistan (+23.3% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2021, picking up by 22% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 49% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Sri Lanka ($X per unit), while Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+0.7%), while the other leaders experienced a decline in the export price figures.

Twig Broom Imports

Imports in Southern Asia

In 2021, supplies from abroad of brooms and brushes of twigs increased by 17% to X units, rising for the second year in a row after two years of decline. In general, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 86% against the previous year. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, twig broom imports surged to $X in 2021. Over the period under review, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 158%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

India dominates imports structure, accounting for X units, which was approx. 89% of total imports in 2021. It was distantly followed by Nepal (X units), committing a 7.8% share of total imports. Pakistan (X units) held a little share of total imports.

Imports into India increased at an average annual rate of +6.7% from 2012 to 2021. At the same time, Nepal (+11.1%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +11.1% from 2012-2021. By contrast, Pakistan (-7.7%) illustrated a downward trend over the same period. While the share of India (+4.1 p.p.) and Nepal (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Pakistan (-5 p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported brooms and brushes of twigs in Southern Asia, comprising 94% of total imports. The second position in the ranking was taken by Nepal ($X), with a 3.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value in India totaled +24.2%. In the other countries, the average annual rates were as follows: Nepal (+21.6% per year) and Pakistan (-3.7% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2021, growing by 26% against the previous year. In general, the import price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 when the import price increased by 125% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per unit), while Nepal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+16.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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