U.S.: Cotton Bag Market 2024

Cotton Bag Market Size in the U.S.

The U.S. cotton bag market fell to $X in 2021, with a decrease of -10.4% against the previous year. Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +37.3% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Cotton Bag Production in the U.S.

In value terms, cotton bag production declined significantly to $X in 2021. Over the period under review, the total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +32.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 65% against the previous year. Cotton bag production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Cotton Bag Exports

Exports from the U.S.

In 2021, exports of sacks and bags of cotton from the United States declined rapidly to X tons, which is down by -19.6% against the previous year's figure. Over the period under review, exports saw a slight contraction. The pace of growth was the most pronounced in 2014 with an increase of 35% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, cotton bag exports reduced to $X in 2021. Overall, exports showed a pronounced reduction. The most prominent rate of growth was recorded in 2014 when exports increased by 29%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X tons), Canada (X tons) and Costa Rica (X tons) were the main destinations of cotton bag exports from the United States, together comprising 80% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Costa Rica (with a CAGR of +15.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cotton bag exported from the United States were Mexico ($X), Canada ($X) and Japan ($X), together accounting for 79% of total exports. Costa Rica, France, Vietnam, the Dominican Republic, Benin and Nigeria lagged somewhat behind, together accounting for a further 8.1%.

Among the main countries of destination, Costa Rica, with a CAGR of +21.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average cotton bag export price amounted to $X per ton, picking up by 16% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2015 when the average export price increased by 26% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Bag Imports

Imports into the U.S.

In 2021, supplies from abroad of sacks and bags of cotton increased by 30% to X tons, rising for the sixth consecutive year after three years of decline. Over the period under review, imports recorded a prominent expansion. The pace of growth appeared the most rapid in 2019 with an increase of 36% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, cotton bag imports soared to $X in 2021. Overall, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.1% 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 increased by +105.3% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), India (X tons) and Indonesia (X tons) were the main suppliers of cotton bag imports to the United States, together comprising 85% of total imports. These countries were followed by Pakistan and Turkey, which together accounted for a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +112.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Indonesia ($X) constituted the largest cotton bag suppliers to the United States, with a combined 80% share of total imports. These countries were followed by Pakistan and Turkey, which together accounted for a further 9%.

Turkey, with a CAGR of +60.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cotton bag import price stood at $X per ton in 2021, rising by 1.9% against the previous year. Overall, the import price, however, recorded a noticeable descent. The growth pace was the most rapid in 2013 an increase of 11% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from India ($X per ton) and Pakistan ($X per ton), while the price for China ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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