Cotton Market Forecast Report 2024-2032 by Production, Consumption, Import & Export, Regions, and Company Analysis
Cotton Market
Dublin, Sept. 04, 2024 (GLOBE NEWSWIRE) -- The "Cotton Market Forecast Report by Production, Consumption, Import & Export, Regions, and Company Analysis 2034-2032" report has been added to ResearchAndMarkets.com's offering.
The global cotton market was valued at US$ 41.83 billion in 2023 and is forecast to reach US$ 53.64 billion by 2032, with a CAGR of 2.80% from 2024 to 2032. Its adaptability is primarily responsible for the increase in market share. It makes up one-third of all fibers produced globally and is the most widely used natural fiber in textile industry.
Approximately one third of all fibers produced worldwide are cotton, making it the most widely utilized natural fiber in textile applications. It can be used to make a range of sturdy, comfortable, and water-absorbent textiles. It is highly recognized for its comfort, performance, and adaptability. Its uses aren't just restricted to textiles, though. Lint and seeds from cotton plants are used to create fiber, edible oil, and animal feed. More precisely, cotton lint is the source of fiber, of which 64% is used to make clothing, 28% for home furnishings, and 8% for industrial purposes.
Although cotton is mostly grown in tropical and subtropical regions of the world, the top cotton-producing nations are China, India, the United States, Brazil, and Pakistan. These nations are major players in the global cotton industry because of their suitable climates and vast agricultural regions. This is clear from the observations, which show that the United States, especially the Texas region, uses highly mechanized farming operations and produces massive amounts of supplies, accounting for important portions of the global supply, along with China and India, the two leading producers. According to USDA data, global cotton production is predicted to reach 116.5 million bales in 2024-2025 - a gain of 3.7 million bales over 2023-2024 - and surpass the 3% mark.
Growth Drivers for the global Cotton Market
Expanding Needs from the Textile Sector
The textile industry has ascribed the rise in cotton demand worldwide to its own needs. Cotton is a widely accessible textile that is cozy to wear, adaptable, and useful for both apparel and home decor. In today's globalized economy, consumers have more disposable income, which they utilize to purchase more cotton goods.
The public likes cotton clothing since it is natural and comfortable to wear. In addition, more businesses are starting to produce clothing, and people prefer to dress comfortably, such in casual attire. They need more cotton, the substance that is most likely used to make the cloth. Cotton will always be needed because the textile industry is expanding and producing new kinds of materials.
For example, the US Department of Agriculture (USDA) reports that in 2021 and 2022, with an export volume of roughly 3.2 million metric tons, the US was the world's top exporter of cotton. With 1.72 million metric tons exported, Brazil has the second-highest exporting share, behind Australia and India.
Increasing Preference of Consumers for Sustainable Products
The purchasing habits of consumers with respect to eco-friendly or organic items have a significant impact on the global cotton market. The trend toward using organic and environmentally friendly cotton is expanding as people become more aware of climate change. In comparison to traditional cotton cultivation, organic cotton production is more sustainable and is well-liked by consumers who care about the environment.
It explicitly forbids the use of synthetic pesticides and fertilizers. In addition to forcing merchants and manufacturers to source sustainable cotton for their goods, this trend has also revealed the supply chain and encouraged them to go green. This industry is expanding because of the shift to sustainable practices, since consumers are already drawn to environmentally friendly items.
Asia Pacific Cotton Production Industry
Asia is the production hub of the world. Although China is the world leader in cotton production and exports, the majority of cotton produced is used domestically. In China, cotton is grown in 24 out of the 35 provinces, employing close to 300 million people in the process.
China produced 5.88 million metric tons of cotton in the crop year 2021-2022, according to the US Department of Agriculture. With 5.33 million metric tons of cotton produced, India comes in second.
The area has seen a notable quantitative rise in cotton production over time. India contributes over 22% of the global cotton production, making it one of the biggest cotton-producing nations in the world, according to the Cotton Corporation of India. Even with the current production per kg/ha of 469 kg, it is still less than the average export yield of around 787 kg/ha. In a similar vein, India alone produced roughly 5.79 million metric tons of cotton in 2021, compared to the global total of 26.36 million metric tons.
Furthermore, as the textile industry uses the majority of the cotton produced in both China and India, it is dominant in both countries.
Key Attributes:
Report Attribute | Details |
No. of Pages | 350 |
Forecast Period | 2023 - 2032 |
Estimated Market Value (USD) in 2023 | $41.83 Billion |
Forecasted Market Value (USD) by 2032 | $53.64 Billion |
Compound Annual Growth Rate | 2.8% |
Regions Covered | Global |
Company Analysis: Company Overview, Recent Development & Strategies, Sales Analysis
Aarti International Limited
Coats Group plc
Damodar Group
Fortex
Huafang Group
KPR Mill Limited
Maharaja Shree Umaid Mills Limited
Nahar Spinning of Companies
Nitin Spinners Ltd.
Weiqiao Textile Company Limited
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Cotton Market
6. Market Share
6.1 By Production - Countries
6.2 By Consumption - Countries
6.3 By Import - Countries
6.4 By Export - Countries
7. Global Cotton Market (Production, Consumption, Import & Export) - By Country
7.1 Americas
7.1.1 United States
7.1.1.1 Production
7.1.1.2 Consumption
7.1.1.3 Import
7.1.1.4 Export
7.1.2 Canada
7.1.2.1 Production
7.1.2.2 Consumption
7.1.2.3 Import
7.1.2.4 Export
7.1.3 Mexico
7.1.3.1 Production
7.1.3.2 Consumption
7.1.3.3 Import
7.1.3.4 Export
7.1.4 Brazil
7.1.4.1 Production
7.1.4.2 Consumption
7.1.4.3 Import
7.1.4.4 Export
7.2 Europe
7.2.1 United Kingdom
7.2.1.1 Production
7.2.1.2 Consumption
7.2.1.3 Import
7.2.1.4 Export
7.2.2 Germany
7.2.2.1 Production
7.2.2.2 Consumption
7.2.2.3 Import
7.2.2.4 Export
7.2.3 France
7.2.3.1 Production
7.2.3.2 Consumption
7.2.3.3 Import
7.2.3.4 Export
7.2.4 Italy
7.2.4.1 Production
7.2.4.2 Consumption
7.2.4.3 Import
7.2.4.4 Export
7.2.5 Spain
7.2.5.1 Production
7.2.5.2 Consumption
7.2.5.3 Import
7.2.5.4 Export
7.2.6 Netherlands
7.2.6.1 Production
7.2.6.2 Consumption
7.2.6.3 Import
7.2.6.4 Export
7.3 Asia Pacific
7.3.1 China
7.3.1.1 Production
7.3.1.2 Consumption
7.3.1.3 Import
7.3.1.4 Export
7.3.2 Japan
7.3.2.1 Production
7.3.2.2 Consumption
7.3.2.3 Import
7.3.2.4 Export
7.3.3 India
7.3.3.1 Production
7.3.3.2 Consumption
7.3.3.3 Import
7.3.3.4 Export
7.3.4 South Korea
7.3.4.1 Production
7.3.4.2 Consumption
7.3.4.3 Import
7.3.4.4 Export
7.3.5 Australia
7.3.5.1 Production
7.3.5.2 Consumption
7.3.5.3 Import
7.3.5.4 Export
7.4 Middle East & Africa
7.4.1 South Africa
7.4.1.1 Production
7.4.1.2 Consumption
7.4.1.3 Import
7.4.1.4 Export
7.4.2 United Arab Emirates
7.4.2.1 Production
7.4.2.2 Consumption
7.4.2.3 Import
7.4.2.4 Export
7.5 Rest of the World
7.5.1.1 Production
7.5.1.2 Consumption
7.5.1.3 Import
7.5.1.4 Export
8. Porter's Five Forces Analysis
8.1 Bargaining Power of Buyer
8.2 Bargaining Power of Supplier
8.3 Threat of New Entrants
8.4 Rivalry among Existing Competitors
8.5 Threat of Substitute Products
9. SWOT Analysis
9.1 Strength
9.2 Weakness
9.3 Opportunity
9.4 Threat
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