Southern Asia: Cotton Bag Market 2024

Cotton Bag Market Size in Southern Asia

After four years of growth, the South Asian cotton bag market decreased by -18.9% to $X in 2021. In general, consumption, however, enjoyed resilient growth. As a result, consumption reached the peak level of $X, and then dropped rapidly in the following year.

Cotton Bag Production in Southern Asia

In value terms, cotton bag production fell modestly to $X in 2021 estimated in export price. The total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.6% 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 +71.8% against 2013 indices. The most prominent rate of growth was recorded in 2019 with an increase of 15% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then reduced modestly in the following year.

Cotton Bag Exports

Exports in Southern Asia

In 2021, exports of sacks and bags of cotton in Southern Asia reached X tons, surging by 3.4% against the previous year. Overall, exports, however, saw a perceptible curtailment. The pace of growth was the most pronounced in 2019 with an increase of 42% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, cotton bag exports soared to $X in 2021. Total exports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Pakistan (X tons) and India (X tons) dominates exports structure, together generating 93% of total exports. Bangladesh (X tons) and Nepal (X tons) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Nepal (with a CAGR of +25.2%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, India ($X) remains the largest cotton bag supplier in Southern Asia, comprising 73% of total exports. The second position in the ranking was held by Pakistan ($X), with a 16% share of total exports. It was followed by Nepal, with a 7% share.

In India, cotton bag exports increased at an average annual rate of +7.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Pakistan (-4.3% per year) and Nepal (+27.8% per year).

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, with an increase of 46% against the previous year. Export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cotton bag export price increased by +56.1% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Nepal ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+8.7%), while the other leaders experienced mixed trends in the export price figures.

Cotton Bag Imports

Imports in Southern Asia

In 2021, purchases abroad of sacks and bags of cotton increased by 55% to X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.4% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 60% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, cotton bag imports surged to $X in 2021. Over the period under review, imports continue to indicate a resilient increase. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), Bangladesh (X tons) and Pakistan (X tons) represented roughly 76% of total imports in 2021. Nepal (X tons) took the next position in the ranking, followed by Maldives (X tons). All these countries together held approx. 21% share of total imports. Afghanistan (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Nepal (with a CAGR of +43.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Bangladesh ($X) and Nepal ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 86% share of total imports.

Nepal, with a CAGR of +54.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 Southern Asia stood at $X per ton in 2021, with a decrease of -8% against the previous year. In general, the import price, however, continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2015 when the import price increased by 75% against the previous year. The level of import peaked at $X per ton in 2020, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+10.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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