Eastern Asia: Cotton Bag Market 2024

Cotton Bag Market Size in Eastern Asia

The East Asian cotton bag market was estimated at $X in 2023, picking up by X% against the previous year. The total consumption indicated pronounced growth from 2012 to 2023: its value 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, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Cotton Bag Production in Eastern Asia

In value terms, cotton bag production reached $X in 2023 estimated in export price. The total production indicated a measured 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 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Cotton Bag Exports

Exports in Eastern Asia

Cotton bag exports amounted to X tons in 2023, increasing by X% compared with the previous year. Total exports indicated a modest 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 most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, cotton bag exports amounted to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China dominates exports structure, resulting at X tons, which was near X% of total exports in 2023. It was distantly followed by Hong Kong SAR (X tons), creating a X% share of total exports.

China was also the fastest-growing in terms of the sacks and bags of cotton exports, with a CAGR of X% from 2012 to 2023. Hong Kong SAR (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, China ($X) remains the largest cotton bag supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in China totaled X%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the export price, however, continues to indicate 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 attained the peak level of $X per ton. From 2022 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%).

Cotton Bag Imports

Imports in Eastern Asia

In 2023, overseas purchases of sacks and bags of cotton decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports continue to indicate a slight descent. The pace of growth appeared the most rapid in 2014 when imports increased by X%. The volume of import peaked at X tons in 2016; however, from 2017 to 2023, imports failed to regain momentum.

In value terms, cotton bag imports soared to $X in 2023. The total import 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 most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are likely to continue growth in the near future.

Imports by Country

In 2023, Hong Kong SAR (X tons), distantly followed by China (X tons), South Korea (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) represented the largest importers of sacks and bags of cotton, together mixing up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Hong Kong SAR ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

South Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, increasing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. As a result, import 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 importing countries. In 2023, amid the top importers, the country with the highest price was China ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform