Asia-Pacific: Cotton Bag Market 2024

Cotton Bag Market Size in Asia-Pacific

The Asia-Pacific cotton bag market rose to $X in 2023, growing by X% against the previous year. The total consumption indicated noticeable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2019 to 2023, the growth of the market remained at a somewhat lower figure.

Cotton Bag Production in Asia-Pacific

In value terms, cotton bag production rose slightly to $X in 2023 estimated in export price. The total production indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Cotton Bag Exports

Exports in Asia-Pacific

In 2023, approx. X tons of sacks and bags of cotton were exported in Asia-Pacific; picking up by X% against 2022 figures. Total exports indicated a mild expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2022 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, cotton bag exports stood at $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Pakistan was the main exporting country with an export of around X tons, which reached X% of total exports. India (X tons) ranks second in terms of the total exports with a X% share, followed by China (X%).

Pakistan was also the fastest-growing in terms of the sacks and bags of cotton exports, with a CAGR of X% from 2012 to 2023. At the same time, China (X%) displayed positive paces of growth. India experienced a relatively flat trend pattern. While the share of Pakistan (X p.p.) and China (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of India (X p.p.) displayed negative dynamics.

In value terms, the largest cotton bag supplying countries in Asia-Pacific were India ($X), China ($X) and Pakistan ($X), with a combined X% share of total exports.

India, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced mixed trends in the export price figures.

Cotton Bag Imports

Imports in Asia-Pacific

In 2023, purchases abroad of sacks and bags of cotton decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports showed a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2023, imports failed to regain momentum.

In value terms, cotton bag imports dropped to $X in 2023. Total imports indicated a perceptible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked at $X in 2022, and then declined in the following year.

Imports by Country

In 2023, Australia (X tons) was the largest importer of sacks and bags of cotton, comprising X% of total imports. Hong Kong SAR (X tons) ranks second in terms of the total imports with a X% share, followed by Thailand (X%), Singapore (X%), China (X%) and South Korea (X%). Malaysia (X tons), Vietnam (X tons), Indonesia (X tons), India (X tons) and Taiwan (Chinese) (X tons) held a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to cotton bag imports into Australia stood at X%. At the same time, South Korea (X%), Vietnam (X%), Malaysia (X%), Taiwan (Chinese) (X%), Thailand (X%), India (X%) and China (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. Singapore and Indonesia experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Thailand, South Korea, China, Vietnam, Malaysia, Singapore, India, Indonesia and Taiwan (Chinese) increased by X, X, X, X, X, X, X, X and X percentage points, respectively.

In value terms, Australia ($X) constitutes the largest market for imported sacks and bags of cotton in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Australia amounted to X%. In the other countries, the average annual rates were as follows: China (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

In 2023, the import price in Asia-Pacific amounted to $X per ton, growing by X% against the previous year. Overall, the import price continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure in 2023 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform