|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
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The cotton market is projected to register a CAGR of 4.1% during the forecast period (2022-2027).
Due to COVID-19, the demand for cotton is decreased to 11.0%. The imposed global restrictions have resulted in the shutting down of ginning mills due to the cancellation and suspension of orders by many western clothing brands. This has also affected the cotton plantations and textile plantations in Bangladesh and India. Due to economic and logistic factors, the global trade of cotton has taken a downturn. It has affected every link in the global supply chain.
China, India, Pakistan, and Bangladesh are the largest cotton consumers in the world, accounting for more than 65.0% of global consumption. For many years, China and India have been the major markets for cotton consumption. However, in recent years, cotton consumption has increased dramatically in Uzbekistan and Vietnam.
Scope of the Report
Cotton is a crop that is majorly used in textile industries. It is a perennial crop that is harvested in moderate rainfall and during a frost-free period with plenty of sunshine. It is somewhat salt- and drought-tolerant, which makes it an attractive crop for the arid and semi-arid regions. The Cotton Market is Segmented by Geography (North America, Europe, Asia-Pacific, South America, and the Middle East & Africa). The report includes Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis. The report offers the market size and forecasts in terms of volume in metric tons and value in USD thousand for all the above segments.
|Geography (Production Analysis, Consumption Analysis by Value and Volume, Import Market Analysis by Value and Volume, Export Market Analysis by Value and Volume, and Price Trend Analysis)|
Key Market Trends
The United States Dominates the Global Exports
The United States plays a major role in the world cotton market in terms of production and export of cotton. During 2019-2020, the United States produced approximately 20.0 million bales of cotton, contributing to nearly USD 7.0 million of its total value. The United States is the leading exporter in the global cotton market, accounting for 37.8% of global cotton exports (2019). It supports the global textile industries and provides opportunities for domestic farmers to market their products by participating in global trade. Since 2016, the United States export levels raised significantly. This is due to the production of high-quality crops combined with the low production levels from other producers. The United States is also a major player in the exports of cotton goods. As it exports the majority of cotton fiber, it also imports textiles and apparel products from India, China, and Bangladesh due to 50.0% of its cotton product imports.
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Asia Dominates the Global Production
According to FAOSTAT, in 2019, China and India together held a share of 50.9% of global cotton production, followed by the United States. Global cotton production is expected to grow at a slower pace than consumption during the forecast period due to the falling price trend in the international market. China leads the global production and exports market. In the United States, most of the cotton produced is exported due to the less-developed textile industry in the country. Asia dominates global production, but most of the cotton produced is domestically consumed. China holds the largest market share of 29.0% of the world cotton production and around 49.0% of the milled cotton used in the country. Similarly, in India, the dominance of the textile sector prevails, as it consumes most of the cotton produced in the country.
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- In March 2021, despite the COVID-19 pandemic, production and consumption remained relatively equivalent, with the production of 24.3 million metric ton and consumption of 24.8 million metric ton.
- In 2019, world production of cotton was valued at about USD 46 billion, while global trade reached USD 15 billion. The cotton industry employs an estimated 150 million people across 75 countries.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain/Supply Chain Analysis
5. MARKET SEGMENTATION
5.1 Geography (Production Analysis, Consumption Analysis by Value and Volume, Import Market Analysis by Value and Volume, Export Market Analysis by Value and Volume, and Price Trend Analysis)
5.1.1 North America
18.104.22.168 United States
5.1.4 South America
5.1.5 Middle East & Africa
22.214.171.124 South Africa
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
7. AN ASSESSMENT OF THE COVID-19 IMPACT ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Cotton Market market is studied from 2017 - 2027.
What is the growth rate of Cotton Market?
The Cotton Market is growing at a CAGR of 5.1% over the next 5 years.
Which region has highest growth rate in Cotton Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Cotton Market?
North America holds highest share in 2021.