Market Size of Asia Pacific Cotton Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.50 % |
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Asia Pacific Cotton Market Analysis
The Asia-Pacific Cotton Market is projected to register a CAGR of 3.5% over the forecast period.
- Cotton is one of the leading cash crops in Asia-Pacific. It has high importance as it is among the most exported commodities in the market. Cotton is produced in nearly all tropical and subtropical regions across Asia-Pacific.
- China and India are significant manufacturers of cotton. For many years, China and India have been the core markets for cotton consumption. In India, the supremacy of the textile sector exists, as it consumes most of the country's cotton. Further, the growth of the Chinese and Indian textile industries has become a dominant factor in influencing Asia's cotton markets. Pakistan is also a significant cotton producer in Asia and holds the third-largest spinning capacity. Middle Eastern and European countries are major cross-border importers of cotton from the Asia-Pacific region.
- Furthermore, many Asian countries have employed policies and programs supporting the cotton sector. These include government cotton purchases, direct payments to producers, insurance subsidies, buffer stocks to stabilize prices and guarantee domestic supplies, border measures to protect domestic industries, and crop and price support mechanisms. Moreover, initiatives launched in the region fuel the growth of the market studied. For instance, in December 2022, The ACRE Alliance launched the event 'Reclaim to Regenerate: Towards Regenerative Cotton Sector in India' in Nagpur, Maharashtra. Through this Alliance, Solidaridad and CRB believe the required shift in agricultural practices will be possible because of a new, more systemic form of collaboration between stakeholders across the value chain, which includes farmer groups, ginners, traders, buyers, brands, as well as agricultural and textile authorities.
