Primary Fiber Crops Market

The global market for primary fiber crops is projected to see an increase in consumption over the next eight years, with a forecasted CAGR of +1.5%. The market volume is expected to reach 101M tons by 2030, with a value of $1,111.5B. The article analyzes the performance of the market from 2022 to 2030, highlighting trends in consumption, production, imports, and exports of fiber crops. It covers key consumption and production figures, as well as insights into the main importing and exporting countries. The article also provides details on the types of fiber crops, their volume, and value in the global market, as well as fluctuations in import and export prices over the analyzed period.

Market Forecast

Driven by rising demand for primary fiber crops worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.5% for the period from 2022 to 2030, which is projected to bring the market volume to 101M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +23.0% for the period from 2022 to 2030, which is projected to bring the market value to $1,111.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Primary Fiber Crops

In 2022, consumption of fiber crops (primary) was finally on the rise to reach 90M tons after two years of decline. Over the period under review, consumption, however, showed a pronounced curtailment. Global consumption peaked at 113M tons in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

The global primary fiber crops market value reached $212.1B in 2022, rising by 4.4% 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). Overall, consumption, however, recorded a perceptible decline. Over the period under review, the global market reached the peak level at $284.9B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (23M tons), India (21M tons) and the United States (8.5M tons), together comprising 59% of global consumption. Brazil, Pakistan, Uzbekistan, Turkey, Bangladesh and Vietnam lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Vietnam (with a CAGR of +11.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest primary fiber crops markets worldwide were China ($44.9B), India ($36.4B) and the United States ($15.7B), with a combined 46% share of the global market. Brazil, Pakistan, Turkey, Uzbekistan, Vietnam and Bangladesh lagged somewhat behind, together comprising a further 18%.

Among the main consuming countries, Vietnam, with a CAGR of +14.2%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of primary fiber crops per capita consumption was registered in Uzbekistan (104 kg per person), followed by Turkey (39 kg per person), Brazil (28 kg per person) and the United States (25 kg per person), while the world average per capita consumption of primary fiber crops was estimated at 11 kg per person.

From 2012 to 2022, the average annual growth rate of the primary fiber crops per capita consumption in Uzbekistan amounted to -4.0%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Turkey (-2.5% per year) and Brazil (-0.0% per year).

Consumption By Type

Cotton lint (71M tons) constituted the product with the largest volume of consumption, comprising approx. 95% of total volume. It was followed by coconut, abaca, ramie and other vegetable textile fibres (2M tons), with a 2.7% share of total consumption. The third position in this ranking was held by jute and jute-like fibers (816K tons), with a 1.1% share.

From 2012 to 2022, the average annual growth rate of the volume of cotton lint consumption amounted to -4.0%. With regard to the other consumed products, the following average annual rates of growth were recorded: coconut, abaca, ramie and other vegetable textile fibres (-1.7% per year) and jute and jute-like fibers (+3.0% per year).

In value terms, cotton lint ($161.6B) led the market, alone. The second position in the ranking was taken by coconut, abaca, ramie and other vegetable textile fibres ($1.2B). It was followed by hemp tow.

From 2012 to 2022, the average annual rate of growth in terms of the value of cotton lint market stood at -2.6%. For the other products, the average annual rates were as follows: coconut, abaca, ramie and other vegetable textile fibres (+0.0% per year) and hemp tow (+8.7% per year).

Production

World Production of Primary Fiber Crops

In 2022, production of fiber crops (primary) was finally on the rise to reach 91M tons after two years of decline. Overall, production, however, continues to indicate a slight slump. Global production peaked at 114M tons in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, primary fiber crops production reduced to $167B in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by 24%. Global production peaked at $217.4B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were India (22M tons), China (21M tons) and the United States (12M tons), with a combined 60% share of global production. Brazil, Pakistan, Uzbekistan, Turkey and Australia lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +1.6%), while production for the other global leaders experienced a decline in the production figures.

Production By Type

Cotton lint (71M tons) constituted the product with the largest volume of production, accounting for 94% of total volume. Moreover, cotton lint exceeded the figures recorded for the second-largest type, coconut, abaca, ramie and other vegetable textile fibres (2.8M tons), more than tenfold. The third position in this ranking was held by jute and jute-like fibers (737K tons), with a 1% share.

For cotton lint, production shrank by an average annual rate of -3.9% over the period from 2012-2022. For the other products, the average annual rates were as follows: coconut, abaca, ramie and other vegetable textile fibres (+0.2% per year) and jute and jute-like fibers (+0.8% per year).

In value terms, cotton lint ($175.6B) led the market, alone. The second position in the ranking was held by coconut, abaca, ramie and other vegetable textile fibres ($1.9B). It was followed by hemp tow.

For cotton lint, production shrank by an average annual rate of -1.9% over the period from 2012-2022. For the other products, the average annual rates were as follows: coconut, abaca, ramie and other vegetable textile fibres (+0.8% per year) and hemp tow (+6.6% per year).

Imports

World Imports of Primary Fiber Crops

In 2022, after five years of growth, there was decline in purchases abroad of fiber crops (primary), when their volume decreased by -4.8% to 11M tons. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 14%. Global imports peaked at 11M tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, primary fiber crops imports surged to $25.2B in 2022. In general, imports, however, saw a slight increase. The pace of growth was the most pronounced in 2021 when imports increased by 31% against the previous year. Over the period under review, global imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, China (2.7M tons), distantly followed by Bangladesh (1,497K tons), Vietnam (1,331K tons), Turkey (1,153K tons), Pakistan (850K tons), India (596K tons) and Indonesia (497K tons) were the largest importers of fiber crops (primary), together making up 81% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +12.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest primary fiber crops importing markets worldwide were China ($6B), Vietnam ($3.8B) and Turkey ($3.2B), together accounting for 52% of global imports.

Among the main importing countries, Vietnam, with a CAGR of +15.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

In 2022, cotton lint (8.6M tons) was the largest type of fiber crops (primary), achieving 83% of total imports. It was distantly followed by coconut, abaca, ramie and other vegetable textile fibres (1.1M tons), committing an 11% share of total imports. The following types - jute and jute-like fibers (307K tons) and flax fiber (263K tons) - each recorded a 5.5% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cotton lint imports of stood at -1.3%. At the same time, flax fiber (+5.5%) and coconut, abaca, ramie and other vegetable textile fibres (+3.2%) displayed positive paces of growth. Moreover, flax fiber emerged as the fastest-growing type imported in the world, with a CAGR of +5.5% from 2012-2022. By contrast, jute and jute-like fibers (-3.1%) illustrated a downward trend over the same period. While the share of coconut, abaca, ramie and other vegetable textile fibres (+3.7 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of cotton lint (-4.3 p.p.) displayed negative dynamics. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, cotton lint ($22.9B) constitutes the largest type of fiber crops (primary) imported worldwide, comprising 92% of global imports. The second position in the ranking was held by flax fiber ($984M), with a 4% share of global imports. It was followed by coconut, abaca, ramie and other vegetable textile fibres, with a 2.5% share.

For cotton lint, imports remained relatively stable over the period from 2012-2022. For the other products, the average annual rates were as follows: flax fiber (+10.6% per year) and coconut, abaca, ramie and other vegetable textile fibres (+4.5% per year).

Import Prices By Type

In 2022, the average primary fiber crops import price amounted to $2,354 per ton, growing by 30% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the product type; the product with the highest price was flax fiber ($3,747 per ton), while the price for coconut, abaca, ramie and other vegetable textile fibres ($548 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by flax fiber (+4.8%), while the other products experienced more modest paces of growth.

Import Prices By Country

In 2022, the average primary fiber crops import price amounted to $2,354 per ton, with an increase of 30% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($2,881 per ton), while Bangladesh ($1,729 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Primary Fiber Crops

After five years of growth, shipments abroad of fiber crops (primary) decreased by -7.4% to 12M tons in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 13%. Over the period under review, the global exports reached the maximum at 12M tons in 2021, and then declined in the following year.

In value terms, primary fiber crops exports skyrocketed to $23.9B in 2022. Overall, total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 26% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports By Country

In 2022, the United States (3.4M tons), distantly followed by Brazil (1.8M tons), India (1.5M tons) and Australia (1.1M tons) were the largest exporters of fiber crops (primary), together mixing up 68% of total exports. The following exporters - Sri Lanka (429K tons), Benin (321K tons), Greece (268K tons), Burkina Faso (261K tons), Cote d'Ivoire (223K tons), Belgium (186K tons) and France (186K tons) - together made up 16% of total exports.

From 2012 to 2022, the biggest increases were recorded for Benin (with a CAGR of +12.5%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($8.9B) remains the largest primary fiber crops supplier worldwide, comprising 37% of global exports. The second position in the ranking was taken by Brazil ($3.7B), with a 16% share of global exports. It was followed by Australia, with a 13% share.

In the United States, primary fiber crops exports expanded at an average annual rate of +3.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (+5.7% per year) and Australia (+1.1% per year).

Exports By Type

Cotton lint was the largest type of fiber crops (primary) in the world, with the volume of exports finishing at 9M tons, which was near 79% of total exports in 2022. It was distantly followed by coconut, abaca, ramie and other vegetable textile fibres (1.9M tons), constituting a 16% share of total exports. Flax fiber (353K tons) and jute and jute-like fibers (227K tons) followed a long way behind the leaders.

Cotton lint experienced a relatively flat trend pattern with regard to volume of exports. At the same time, flax fiber (+7.5%) and coconut, abaca, ramie and other vegetable textile fibres (+5.3%) displayed positive paces of growth. Moreover, flax fiber emerged as the fastest-growing type exported in the world, with a CAGR of +7.5% from 2012-2022. By contrast, jute and jute-like fibers (-7.5%) illustrated a downward trend over the same period. While the share of coconut, abaca, ramie and other vegetable textile fibres (+6.3 p.p.) and flax fiber (+1.5 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of jute and jute-like fibers (-2.4 p.p.) and cotton lint (-5.6 p.p.) displayed negative dynamics.

In value terms, cotton lint ($21.8B) remains the largest type of fiber crops (primary) supplied worldwide, comprising 91% of global exports. The second position in the ranking was taken by flax fiber ($1.2B), with a 4.9% share of global exports. It was followed by coconut, abaca, ramie and other vegetable textile fibres, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of the value of cotton lint exports amounted to +1.2%. For the other products, the average annual rates were as follows: flax fiber (+11.7% per year) and coconut, abaca, ramie and other vegetable textile fibres (+6.8% per year).

Export Prices By Type

The average primary fiber crops export price stood at $2,067 per ton in 2022, jumping by 25% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was flax fiber ($3,312 per ton), while the average price for exports of coconut, abaca, ramie and other vegetable textile fibres ($416 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by jute and jute-like fibers (+4.6%), while the other products experienced more modest paces of growth.

Export Prices By Country

The average primary fiber crops export price stood at $2,067 per ton in 2022, picking up by 25% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($3,126 per ton), while Sri Lanka ($497 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform