United Kingdom: Plaits And Basketwork Market 2024

Plaits And Basketwork Market Size in the UK

In 2022, the UK plaits and basketwork market decreased by -1.7% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, showed strong growth. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Plaits And Basketwork Production in the UK

In value terms, plaits and basketwork production reached $X in 2022 estimated in export price. Overall, production, however, recorded a remarkable increase. The growth pace was the most rapid in 2014 when the production volume increased by 29% against the previous year. Plaits and basketwork production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Plaits And Basketwork Exports

Exports from the UK

In 2022, approx. X tons of plaits, basketwork, wickerwork and similar products of plaiting materials were exported from the UK; with a decrease of -47.3% against the year before. Overall, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 43%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, plaits and basketwork exports shrank remarkably to $X in 2022. Over the period under review, exports, however, recorded a modest expansion. The pace of growth was the most pronounced in 2020 when exports increased by 115%. The exports peaked at $X in 2021, and then fell markedly in the following year.

Exports by Country

Ireland (X tons), Macao SAR (X tons) and the United Arab Emirates (X tons) were the main destinations of plaits and basketwork exports from the UK, with a combined 39% 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 Macao SAR (with a CAGR of +378.4%), while the other leaders experienced more modest paces of growth.

In value terms, Macao SAR ($X), Ireland ($X) and the United States ($X) were the largest markets for plaits and basketwork exported from the UK worldwide, with a combined 38% share of total exports.

Macao SAR, with a CAGR of +365.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plaits and basketwork export price stood at $X per ton in 2022, shrinking by -33.7% against the previous year. Overall, the export price, however, recorded prominent growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 103%. The export price peaked at $X per ton in 2021, and then shrank significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Iceland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Plaits And Basketwork Imports

Imports into the UK

In 2022, purchases abroad of plaits, basketwork, wickerwork and similar products of plaiting materials decreased by -5.9% to X tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 21% against the previous year. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, plaits and basketwork imports fell modestly to $X in 2022. Overall, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 52% against the previous year. As a result, imports reached the peak of $X, and then contracted modestly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plaits and basketwork to the UK, accounting for a 62% share of total imports. Moreover, plaits and basketwork imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), sixfold. The third position in this ranking was held by Poland (X tons), with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+5.6% per year) and Poland (+43.0% per year).

In value terms, China ($X) constituted the largest supplier of plaits, basketwork, wickerwork and similar products of plaiting materials to the UK, comprising 65% of total imports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total imports. It was followed by Indonesia, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+10.9% per year) and Indonesia (+8.8% per year).

Import Prices by Country

In 2022, the average plaits and basketwork import price amounted to $X per ton, increasing by 3.4% against the previous year. Over the period under review, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plaits and basketwork import price increased by +62.4% against 2016 indices. The pace of growth was the most pronounced in 2021 an increase of 26% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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