Cotton Market Size

Cotton Market Analysis

The Cotton Market size is estimated at USD 43.96 billion in 2024, and is expected to reach USD 50.22 billion by 2029, growing at a CAGR of 2.70% during the forecast period (2024-2029).

• Cotton grows in nearly all tropical and subtropical regions worldwide and primarily supports the global textile mills and apparel manufacturing markets. The highly competitive prices of cotton fibers in the global market, coupled with the increasing export demand for cotton yarn and textile products, are expected to increase the global demand for cotton.
• For instance, according to the Reserve Bank of India, in the fiscal year 2022, the value of cotton and cotton products exported from India was over INR 1140 billion (USD 13.94 billion). This increased by almost INR 586 billion (USD 5.1 billion) compared to the previous financial year, which accounted for INR 726 billion (USD 8.8 billion). Also, a greater crop yield in Brazil, Australia, and Pakistan is predicted to increase global cotton production and consumption during the forecast period.
• Moreover, cotton is widely used to manufacture garments, apparel, and medical dressings. The abundance of natural fibers, especially cotton, in China, India, and the United States, is contributing significantly to the growth of the global textile market, which is expected to support the cotton market. For instance, according to METI, Japan, the consumption quantity of knitted fabrics made from cotton in the textile industry in Japan increased by 139.3 thousand kilograms (+6.96%) since the previous year (2021). In total, the consumption quantity amounted to 2.1 thousand tonnes in 2021. This huge demand for cotton from various sectors across the globe is expected to boost the market at a faster pace.