Market Size of Cotton Trade Analysis
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.50 % |
Cotton Trade Analysis Market Analysis
The global cotton trade market is projected to register a CAGR of 4.5% during the forecast period.
- Cotton is essentially grown for its fiber, which is used as raw material for textile industries. It is an important commodity in the world economy which is produced in more than 100 countries and heavily traded agricultural commodity, with around 150 countries involved in the export and import of cotton. Cotton is also a very political crop because of its significance in world trade and in improving the economies of many developing countries.
- In many countries, cotton exports are not only viewed as a key contributor to foreign exchange earnings but also for a noteworthy proportion of GDP and tax income. It is playing a vital role in economic growth in Africa where 37 of the 53 African countries produce cotton and 30 are exporters. Many Central Asian countries such as Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, and Turkmenistan are also very dependent on cotton exports.
- The cotton industry is witnessing a significant increase as global textile mills and the clothing manufacturing market expand. According to the data from FAO, cotton (seed cotton, unginned) production increased to 73.7 million metric ton in 2021 from 71.9 million metric ton in 2018. Cotton is an export crop even though its processing takes place mostly in the main producing countries.
- In 2021, total cotton exports was valued at USD 18.23 billion. The United States is the largest exporter in the world with 2.9 million metric ton of exports in 2021, representing 31.3% share in terms of value. Weather fluctuations are causing havoc on almost all of the world's largest cotton suppliers, such as a heat wave in China is raising concerns about the country's next harvest. A severe drought is damaging crops in the United States, and is likely to reduce production in 2022.
Cotton Trade Analysis Industry Segmentation
Cotton is a major agricultural commodity, which is highly traded across the world.
The Cotton Trade Market is Segmented by Geography (North America, Europe, Asia-Pacific, South America, and Africa). The Study includes the Production (Volume), Consumption (Value and Volume), and Trade in terms of Import (Value and Volume), Export (Value and Volume), and Price Trend Analysis. The report offers the market size and forecasts in terms of volume in metric tons and value in USD thousand for all the above segments.
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Cotton Trade Analysis Size Summary
The global cotton trade market is a crucial component of the world economy, with cotton serving as a vital raw material for the textile industry. This agricultural commodity is produced in over a hundred countries and is heavily traded, involving around 150 nations in its export and import activities. Cotton's significance extends beyond economic metrics; it is a politically charged crop that influences trade dynamics and economic development, particularly in developing regions. In Africa, for instance, cotton production and exportation are integral to the economies of many countries, contributing significantly to foreign exchange earnings and GDP. Central Asian nations also rely heavily on cotton exports, underscoring the crop's importance in these regions. The industry's growth is propelled by the expanding global textile mills and clothing manufacturing sectors, with the United States playing a pivotal role as the leading exporter.
The United States maintains a dominant position in the global cotton market, both in production and exportation. Despite challenges such as droughts affecting production, investments in textile operations are expected to bolster future growth. The U.S. exports a significant portion of its cotton fiber while also importing textiles and apparel from countries like India, China, and Bangladesh. China, the largest importer of cotton, continues to show increasing demand due to its burgeoning textile industry. This demand is supported by imports from major exporters like the United States, Brazil, and India. However, China's government is actively working to reduce reliance on imports by enhancing domestic production, which could influence future trade patterns. Collaborative efforts, such as those between the U.S. Department of Agriculture and educational institutions, aim to address market challenges and create new opportunities for cotton exporters, while initiatives in India seek to promote its cotton products globally.
Cotton Trade Analysis Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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2. MARKET SEGMENTATION
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2.1 Geography (Production (Volume), Consumption (Value and Volume),Import (Value and Volume), Export (Value and Volume), and Price Trend Analysis)
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2.1.1 North America
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2.1.1.1 United States
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2.1.1.2 Canada
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2.1.1.3 Mexico
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2.1.1.4 Rest Of North America
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2.1.2 Europe
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2.1.2.1 United Kingdom
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2.1.2.2 France
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2.1.2.3 Italy
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2.1.2.4 Spain
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2.1.2.5 Germany
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2.1.2.6 Rest of Europe
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2.1.3 Asia-Pacific
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2.1.3.1 China
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2.1.3.2 India
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2.1.3.3 Vietnam
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2.1.3.4 Australia
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2.1.3.5 Rest of Asia-Pacific
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2.1.4 South America
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2.1.4.1 Brazil
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2.1.4.2 Argentina
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2.1.4.3 Rest of South America
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2.1.5 Africa
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2.1.5.1 South Africa
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2.1.5.2 Rest of Africa
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Cotton Trade Analysis Market Size FAQs
What is the current Cotton Market size?
The Cotton Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
What years does this Cotton Market cover?
The report covers the Cotton Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cotton Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
