Sweden: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Sweden

In 2022, the Swedish market for coconut, abaca, ramie and other vegetable textile fibres decreased by -33.8% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, continues to indicate a perceptible expansion. Consumption of peaked at $X in 2021, and then contracted dramatically in the following year.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports from Sweden

In 2022, after three years of decline, there was significant growth in overseas shipments of coconut, abaca, ramie and other vegetable textile fibres, when their volume increased by 80% to X tons. Over the period under review, exports, however, saw a deep setback. Over the period under review, the exports of hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 91%. Over the period under review, the exports of reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Norway (X tons), Finland (X tons) and Estonia (X tons) were the main destinations of exports of coconut, abaca, ramie and other vegetable textile fibres from Sweden, with a combined 92% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +35.2%), while the other leaders experienced more modest paces of growth.

In value terms, Norway ($X) remains the key foreign market for coconut, abaca, ramie and other vegetable textile fibres exports from Sweden, comprising 54% of total exports. The second position in the ranking was held by Finland ($X), with a 24% share of total exports. It was followed by Estonia, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Norway totaled +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+13.7% per year) and Estonia (+39.5% per year).

Export Prices by Country

The average export price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, which is down by -29.6% against the previous year. In general, the export price, however, enjoyed a measured increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 45%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then shrank significantly in the following year.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Norway ($X per ton) and Estonia ($X per ton), while the average price for exports to Finland ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports into Sweden

In 2022, imports of coconut, abaca, ramie and other vegetable textile fibres into Sweden contracted dramatically to X tons, reducing by -38.1% against 2021. Over the period under review, imports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 64%. Over the period under review, imports of reached the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres fell rapidly to $X in 2022. In general, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 43% against the previous year. Over the period under review, imports of hit record highs at $X in 2021, and then reduced dramatically in the following year.

Imports by Country

In 2022, Sri Lanka (X tons) constituted the largest coconut, abaca, ramie and other vegetable textile fibre supplier to Sweden, with a 73% share of total imports. Moreover, imports of coconut, abaca, ramie and other vegetable textile fibres from Sri Lanka exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold. Vietnam (X tons) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sri Lanka stood at -8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.8% per year) and Vietnam (+24.9% per year).

In value terms, the largest coconut, abaca, ramie and other vegetable textile fibre suppliers to Sweden were Sri Lanka ($X), China ($X) and Vietnam ($X), together accounting for 93% of total imports.

Among the main suppliers, Vietnam, with a CAGR of +45.3%, recorded 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 average import price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, growing by 18% against the previous year. Over the period under review, the import price saw a resilient increase. The growth pace was the most rapid in 2017 when the average import price increased by 76%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform