Jute And Jute-Like Fibers Market

The global jute and jute-like fibers market is projected to see continued growth in both consumption and value terms from 2022 to 2030, with Bangladesh leading in both consumption and production. India stands out as the key importer and exporter in the market. Average import prices have shown a steady increase over the last decade.

Market Forecast

Driven by increasing demand for jute and jute-like fibers worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market volume to 1.1M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market value to $914M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Jute And Jute-Like Fibers

Global jute and jute-like fibers consumption rose sharply to 816K tons in 2022, picking up by 14% on the year before. The total consumption volume increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Global consumption peaked in 2022 and is likely to see steady growth in the near future.

The global jute and jute-like fibers market value surged to $649M in 2022, increasing by 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +4.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Consumption By Country

Bangladesh (503K tons) remains the largest jute and jute-like fibers consuming country worldwide, accounting for 62% of total volume. Moreover, jute and jute-like fibers consumption in Bangladesh exceeded the figures recorded by the second-largest consumer, India (114K tons), fourfold. The third position in this ranking was held by Pakistan (64K tons), with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume in Bangladesh stood at +10.8%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+4.2% per year) and Pakistan (-0.7% per year).

In value terms, Bangladesh ($345M) led the market, alone. The second position in the ranking was held by India ($93M). It was followed by Pakistan.

In Bangladesh, the jute and jute-like fibers market increased at an average annual rate of +13.3% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: India (+5.4% per year) and Pakistan (+0.5% per year).

In 2022, the highest levels of jute and jute-like fibers per capita consumption was registered in Bangladesh (2,995 kg per 1000 persons), followed by Nepal (763 kg per 1000 persons), Kenya (489 kg per 1000 persons) and Pakistan (277 kg per 1000 persons), while the world average per capita consumption of jute and jute-like fibers was estimated at 104 kg per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the jute and jute-like fibers per capita consumption in Bangladesh totaled +9.7%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Nepal (-9.1% per year) and Kenya (+1.3% per year).

Production

World Production of Jute And Jute-Like Fibers

After two years of growth, production of jute and jute-like fibers decreased by -0.4% to 737K tons in 2022. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 1.6% against the previous year. Over the period under review, global production reached the peak volume at 740K tons in 2021, and then shrank modestly in the following year. The general positive trend in terms output was largely conditioned by a relatively flat trend pattern of the harvested area and a relatively flat trend pattern in yield figures.

In value terms, jute and jute-like fibers production rose modestly to $563M in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 20%. Global production peaked at $575M in 2020; however, from 2021 to 2022, production remained at a lower figure.

Production By Country

Bangladesh (668K tons) remains the largest jute and jute-like fibers producing country worldwide, accounting for 91% of total volume. Moreover, jute and jute-like fibers production in Bangladesh exceeded the figures recorded by the second-largest producer, Kenya (30K tons), more than tenfold.

In Bangladesh, jute and jute-like fibers production remained relatively stable over the period from 2012-2022.

Imports

World Imports of Jute And Jute-Like Fibers

In 2022, overseas purchases of jute and jute-like fibers were finally on the rise to reach 307K tons for the first time since 2016, thus ending a five-year declining trend. Over the period under review, imports, however, saw a noticeable descent. Global imports peaked at 420K tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, jute and jute-like fibers imports skyrocketed to $305M in 2022. Overall, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, India (144K tons) was the key importer of jute and jute-like fibers, achieving 47% of total imports. Pakistan (64K tons) ranks second in terms of the total imports with a 21% share, followed by Nepal (7.5%) and China (5.8%). Brazil (5.2K tons) held a little share of total imports.

India was also the fastest-growing in terms of the jute and jute-like fibers imports, with a CAGR of +4.4% from 2012 to 2022. At the same time, Brazil (+4.0%) displayed positive paces of growth. Pakistan experienced a relatively flat trend pattern. By contrast, Nepal (-8.1%) and China (-16.0%) illustrated a downward trend over the same period. India (+25 p.p.) and Pakistan (+4.6 p.p.) significantly strengthened its position in terms of the global imports, while Nepal and China saw its share reduced by -5.3% and -18.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($130M) constitutes the largest market for imported jute and jute-like fibers worldwide, comprising 43% of global imports. The second position in the ranking was held by Pakistan ($61M), with a 20% share of global imports. It was followed by Nepal, with a 5.8% share.

In India, jute and jute-like fibers imports increased at an average annual rate of +6.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+1.3% per year) and Nepal (-4.2% per year).

Imports By Type

Jute and other textile bast fibres, raw or retted, but not spun, excluding flax, hemp (cannabis sativa l.), and ramie prevails in imports structure, reaching 280K tons, which was near 91% of total imports in 2022. It was distantly followed by jute and other textile bast fibres; processed but not spun, tow and waste of these fibres, including yarn waste and garnetted stock (excluding flax, hemp (cannabis sativa l.), and ramie) (27K tons), making up an 8.7% share of total imports.

Imports of jute and other textile bast fibres, raw or retted, but not spun, excluding flax, hemp (cannabis sativa l.), and ramie decreased at an average annual rate of -3.4% from 2012 to 2022. At the same time, jute and other textile bast fibres; processed but not spun, tow and waste of these fibres, including yarn waste and garnetted stock (excluding flax, hemp (cannabis sativa l.), and ramie) (+1.4%) displayed positive paces of growth. Moreover, jute and other textile bast fibres; processed but not spun, tow and waste of these fibres, including yarn waste and garnetted stock (excluding flax, hemp (cannabis sativa l.), and ramie) emerged as the fastest-growing type imported in the world, with a CAGR of +1.4% from 2012-2022. Jute and other textile bast fibres; processed but not spun, tow and waste of these fibres, including yarn waste and garnetted stock (excluding flax, hemp (cannabis sativa l.), and ramie) (+3.2 p.p.) significantly strengthened its position in terms of the global imports, while jute and other textile bast fibres, raw or retted, but not spun, excluding flax, hemp (cannabis sativa l.), and ramie saw its share reduced by -3.2% from 2012 to 2022, respectively.

In value terms, jute and other textile bast fibres, raw or retted, but not spun, excluding flax, hemp (cannabis sativa l.), and ramie ($276M) constitutes the largest type of jute and jute-like fibers imported worldwide, comprising 90% of global imports. The second position in the ranking was held by jute and other textile bast fibres; processed but not spun, tow and waste of these fibres, including yarn waste and garnetted stock (excluding flax, hemp (cannabis sativa l.), and ramie) ($29M), with a 9.5% share of global imports.

For jute and other textile bast fibres, raw or retted, but not spun, excluding flax, hemp (cannabis sativa l.), and ramie, imports remained relatively stable over the period from 2012-2022.

Import Prices By Type

The average jute and jute-like fibers import price stood at $994 per ton in 2022, shrinking by -3.2% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, jute and jute-like fibers import price increased by +47.2% against 2018 indices. The pace of growth appeared the most rapid in 2021 an increase of 30% against the previous year. As a result, import price attained the peak level of $1,027 per ton, and then dropped slightly in the following year.

Average prices varied noticeably amongst the major imported products. In 2022, the product with the highest price was jute and other textile bast fibres; processed but not spun, tow and waste of these fibres, including yarn waste and garnetted stock (excluding flax, hemp (cannabis sativa l.), and ramie) ($1,083 per ton), while the price for jute and other textile bast fibres, raw or retted, but not spun, excluding flax, hemp (cannabis sativa l.), and ramie amounted to $985 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by jute and other textile bast fibres, raw or retted, but not spun, excluding flax, hemp (cannabis sativa l.), and ramie (+3.6%).

Import Prices By Country

The average jute and jute-like fibers import price stood at $994 per ton in 2022, waning by -3.2% against the previous year. Over the period under review, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, jute and jute-like fibers import price increased by +47.2% against 2018 indices. The growth pace was the most rapid in 2021 an increase of 30% against the previous year. As a result, import price reached the peak level of $1,027 per ton, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($1,507 per ton), while Nepal ($765 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+8.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Jute And Jute-Like Fibers

Global jute and jute-like fibers exports fell to 227K tons in 2022, with a decrease of -5.8% compared with 2021. In general, exports recorded a deep setback. The growth pace was the most rapid in 2016 with an increase of 23% against the previous year. The global exports peaked at 496K tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, jute and jute-like fibers exports dropped slightly to $193M in 2022. Over the period under review, exports showed a perceptible slump. The most prominent rate of growth was recorded in 2016 when exports increased by 50%. The global exports peaked at $270M in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

Bangladesh represented the key exporter of jute and jute-like fibers in the world, with the volume of exports resulting at 166K tons, which was near 73% of total exports in 2022. It was distantly followed by India (31K tons), mixing up a 14% share of total exports. Tanzania (6.9K tons), Belgium (6.2K tons) and Indonesia (4.5K tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to jute and jute-like fibers exports from Bangladesh stood at -9.5%. At the same time, Indonesia (+68.9%), Tanzania (+7.7%) and India (+4.8%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +68.9% from 2012-2022. Belgium experienced a relatively flat trend pattern. India (+9.7 p.p.), Tanzania (+2.4 p.p.) and Indonesia (+2 p.p.) significantly strengthened its position in terms of the global exports, while Bangladesh saw its share reduced by -17.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bangladesh ($120M) remains the largest jute and jute-like fibers supplier worldwide, comprising 62% of global exports. The second position in the ranking was taken by India ($26M), with a 14% share of global exports. It was followed by Tanzania, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value in Bangladesh totaled -6.3%. The remaining exporting countries recorded the following average annual rates of exports growth: India (+8.9% per year) and Tanzania (+11.3% per year).

Exports By Type

Jute and other textile bast fibres, raw or retted, but not spun, excluding flax, hemp (cannabis sativa l.), and ramie represented the key exported product with an export of around 199K tons, which amounted to 88% of total exports. It was distantly followed by jute and other textile bast fibres; processed but not spun, tow and waste of these fibres, including yarn waste and garnetted stock (excluding flax, hemp (cannabis sativa l.), and ramie) (27K tons), mixing up a 12% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to jute and other textile bast fibres, raw or retted, but not spun, excluding flax, hemp (cannabis sativa l.), and ramie exports of stood at -8.1%. jute and other textile bast fibres; processed but not spun, tow and waste of these fibres, including yarn waste and garnetted stock (excluding flax, hemp (cannabis sativa l.), and ramie) (-1.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of jute and other textile bast fibres; processed but not spun, tow and waste of these fibres, including yarn waste and garnetted stock (excluding flax, hemp (cannabis sativa l.), and ramie) increased by +5.6 percentage points.

In value terms, jute and other textile bast fibres, raw or retted, but not spun, excluding flax, hemp (cannabis sativa l.), and ramie ($156M) remains the largest type of jute and jute-like fibers supplied worldwide, comprising 81% of global exports. The second position in the ranking was held by jute and other textile bast fibres; processed but not spun, tow and waste of these fibres, including yarn waste and garnetted stock (excluding flax, hemp (cannabis sativa l.), and ramie) ($37M), with a 19% share of global exports.

For jute and other textile bast fibres, raw or retted, but not spun, excluding flax, hemp (cannabis sativa l.), and ramie, exports plunged by an average annual rate of -4.2% over the period from 2012-2022.

Export Prices By Type

In 2022, the average jute and jute-like fibers export price amounted to $849 per ton, with an increase of 5.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.6%. The pace of growth was the most pronounced in 2016 an increase of 22% against the previous year. The global export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was jute and other textile bast fibres; processed but not spun, tow and waste of these fibres, including yarn waste and garnetted stock (excluding flax, hemp (cannabis sativa l.), and ramie) ($1,341 per ton), while the average price for exports of jute and other textile bast fibres, raw or retted, but not spun, excluding flax, hemp (cannabis sativa l.), and ramie stood at $781 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by jute and other textile bast fibres, raw or retted, but not spun, excluding flax, hemp (cannabis sativa l.), and ramie (+4.2%).

Export Prices By Country

In 2022, the average jute and jute-like fibers export price amounted to $849 per ton, surging by 5.8% against the previous year. Over the last decade, it increased at an average annual rate of +4.6%. The pace of growth was the most pronounced in 2016 when the average export price increased by 22%. The global export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($1,836 per ton), while Belgium ($686 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform