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The global cotton market size is forecast to increase by USD 7.97 billion between 2022 and 2027, accelerating at a CAGR of 3.08%. Cotton's market share growth is mainly attributed to its versatile nature. Being the most commonly used natural fiber in textile production, it accounts for one-third of all fibers produced worldwide. In 2017, China held the largest market share, projecting an annual revenue of USD 15.15 billion. In this market growth and analysis report, the market size, historical data (2017-2021), and future forecasts are presented in terms of value (in USD billion) for all the mentioned segments.
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The versatile nature of cotton is notably driving the market share growth. It is the most widely used natural fiber in textiles, accounting for one-third of total fibers manufactured worldwide. Well known for its versatility, performance, and comfort, it can be used to create different types of fabrics that are strong, water-absorbent, and comfortable. However, its uses go beyond textiles.
The plant yields lint and seeds that are turned into fiber, edible oil, and animal feed. More specifically, fiber is derived from cotton lint, with 64% of fiber produced used in apparel, 28% used for home furnishings, and 8% for industrial applications. Cotton seeds are crushed to yield cholesterol-free oil that is used primarily in cooking and as an ingredient in cosmetics, pharmaceuticals, and personal care products, as well as other industrial uses such as plastics and rubber. Cottonseed also produces a protein-rich diet that is used in livestock and poultry feed. With its increased use in various industries, the market is expected to witness high growth during the forecast period.
The Cotton Fiber segment was the largest segment and was valued at USD 35.50 billion in 2017. Worldwide, tropical and subtropical regions are home to bushes that produce cotton, a soft, natural fiber. India is the world's largest producer of cotton, which is a staple in the textile industry. The expansion of the worldwide textile mills and clothing manufacturing business is driving a massive boom in the industry. The most widely used natural fiber in textiles, it makes up one-third of all fibers produced globally. Even though it is an export crop, the majority of its processing happens in the world's two largest producers, China and India. The market for cotton fiber is anticipated to rise in response to the growing desire for natural fibers which is a major market trend.
APAC is estimated to contribute 87% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
APAC dominates global production. However, most of it produced is domestically consumed in contrast to Western countries where cotton is grown mainly for exports. China is leading the global production and export market. The textile industry in APAC is growing due to the growing usage of cotton fibers as prime material in clothing, the rising population, increasing disposable incomes, and a rise in the demand for home furnishing products. This has a positive impact on the market in APAC. It is also the prime cash crop in most of the countries in APAC, such as China, India, Bangladesh, and Pakistan.
The development of China's textile industry has increased the consumption of cotton, along with the consumption of cotton linters, cotton waste, and comber noil. India is considered one of the largest players in the market in APAC. The Indian textile industry is predominantly a cotton-based industry. India is considered next in line to dominate the APAC market.
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The Market is fragmented in nature. Some significant players include Ambika Cotton Mills Ltd., Asha Cotton Industries, Banswara Syntex Ltd., Carr Textile, Damodar Group, Fazal Cloth Mills Ltd., Hengli Group Co. Ltd., and so on as forecasted in this market analysis and report.
This market trends and analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Huafu Fashion Co. Ltd., Loyal Textile Mills Ltd., Lu Thai Textile Co. Ltd., Oswal Group, Shri Vallabh Pittie Group, Sintex Industries Ltd., Sutlej Textiles and Industries Ltd., The Bombay Dyeing and Manufacturing Co. Ltd., The Lakshmi Mills Co. Ltd., Trident Ltd., Unifi Inc., Vardhman Group, and Weiqiao Textile Co. Ltd.
The market is a cornerstone of the textile industry, with textile mills and apparel manufacturing markets driving demand for these fibers worldwide. Export demand for cotton yarn and other textile products fuels production in countries with high consumption rates. It finds applications beyond garments, including medical dressings, knitted fabrics, and industrial products. Government bodies like METI and the USDA play pivotal roles in monitoring exports and export volume, ensuring market stability. It is also utilized in medical supplies such as medical gauze, cotton swabs, and cotton rounds, as well as traditional diapers and cottonseed oil production.
This market analysis report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.08% |
Market growth 2023-2027 |
USD 7.97 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.68 |
Regional analysis |
APAC, Middle East and Africa, North America, South America, and Europe |
Performing market contribution |
APAC at 87% |
Key countries |
Turkey, China, India, Pakistan, and Bangladesh |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Banswara Syntex Ltd., Carr Textile, Damodar Group, Fazal Cloth Mills Ltd., Hengli Group Co. Ltd., Huafu Fashion Co. Ltd., Loyal Textile Mills Ltd., Lu Thai Textile Co. Ltd., Oswal Group, Shri Vallabh Pittie Group, Sintex Industries Ltd., Sutlej Textiles and Industries Ltd., The Bombay Dyeing and Manufacturing Co. Ltd., The Lakshmi Mills Co. Ltd., Trident Ltd., Unifi Inc., Vardhman Group, and Weiqiao Textile Co. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, Market Growth and Trends, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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