U.S.: Market for Jute And Jute-Like Fibers 2024

Market Size for Jute And Jute-Like Fibers in the U.S.

In 2022, the U.S. jute and jute-like fibers market increased by 88% to $X, rising for the third year in a row after two years of decline. Overall, consumption continues to indicate buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Jute And Jute-Like Fibers in the U.S.

In value terms, jute and jute-like fibers production totaled $X in 2022. Overall, production showed a significant increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 142,945,000% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

In 2022, the average jute and jute-like fibers yield in the United States amounted to less than X kg per ha, remaining constant against the previous year's figure. In general, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of jute and jute-like fibers production in the United States was estimated at less than X ha, remaining relatively unchanged against the previous year. In general, the harvested area showed a relatively flat trend pattern.

Exports of Jute And Jute-Like Fibers

Exports from the U.S.

In 2022, the amount of jute and jute-like fibers exported from the United States expanded slightly to X tons, picking up by 2.3% on the year before. Over the period under review, exports continue to indicate modest growth. The pace of growth was the most pronounced in 2018 with an increase of 98%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, jute and jute-like fibers exports skyrocketed to $X in 2022. Overall, exports posted a notable increase. The most prominent rate of growth was recorded in 2018 with an increase of 118% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for jute and jute-like fibers exports from the United States, accounting for a 40% share of total exports. Moreover, jute and jute-like fibers exports to Colombia exceeded the volume sent to the second major destination, Israel (X tons), threefold. Mexico (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia stood at +42.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (0.0% per year) and Mexico (+6.9% per year).

In value terms, the largest markets for jute and jute-like fibers exported from the United States were Colombia ($X), Mexico ($X) and Spain ($X), with a combined 34% share of total exports. Nigeria, Canada, Israel, Peru and the UK lagged somewhat behind, together comprising a further 19%.

Nigeria, with a CAGR of +36.4%, recorded 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 jute and jute-like fibers export price stood at $X per ton in 2022, surging by 71% against the previous year. In general, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Peru ($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 the UK (+99.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Jute And Jute-Like Fibers

Imports into the U.S.

In 2022, approx. X tons of jute and jute-like fibers were imported into the United States; reducing by -15.1% compared with 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 76% against the previous year. As a result, imports attained the peak of X tons, and then fell significantly in the following year.

In value terms, jute and jute-like fibers imports soared to $X in 2022. In general, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2021 with an increase of 142% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Bangladesh (X tons) constituted the largest jute and jute-like fibers supplier to the United States, with a 82% share of total imports. Moreover, jute and jute-like fibers imports from Bangladesh exceeded the figures recorded by the second-largest supplier, India (X tons), eightfold. Pakistan (X tons) ranked third in terms of total imports with a 4% share.

From 2012 to 2022, the average annual growth rate of volume from Bangladesh stood at -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+7.1% per year) and Pakistan (+31.7% per year).

In value terms, Bangladesh ($X) constituted the largest supplier of jute and jute-like fibers to the United States, comprising 75% of total imports. The second position in the ranking was taken by India ($X), with a 16% share of total imports. It was followed by Pakistan, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Bangladesh amounted to +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+8.9% per year) and Pakistan (+45.0% per year).

Import Prices by Country

The average jute and jute-like fibers import price stood at $X per ton in 2022, jumping by 69% against the previous year. In general, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, jute and jute-like fibers import price increased by +133.1% against 2020 indices. As a result, import 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 supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Sri Lanka ($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 (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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