Cotton Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The global cotton production is projected to register a CAGR of 4.1% during forecast period (2021-2026).

Due to COVID -19, the demand for cotton is decreased to 11.0%. The imposed global restrictions has resulted in shutting down of ginning mills due to cancellation and suspension of orders by many western clothing brands. This has also effected the cotton plantations and textile plantaions for Bangladesh and India. Due to economic and logistic factors, the global trade of cotton has taken a downturn. It has effected 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.

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Key Market Trends

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, United States produced approximately 20.0 million bales of cotton, contributing to nearly USD 7.0 million of its total value. United States is the leading exporter in world's cotton market, accounting to 37.8% of global cotton exports (2019). It supports the worlds textile industries and provides oppurunities for domestic farmers to market their product globally, by participating in the global trade. Since 2016, United states export levels raised significantly.This is due to the production of high quality crop combined with the low production levels from other producers. United States is also a major player in the exports of cotton goods. As it exports majority of cotton fiber, it also imports the textiles and apparel products from India, China, Bangladesh owing to 50.0% of the country's cotton product imports.

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