NEW YORK, Nov. 22, 2023 /PRNewswire/ — The cotton market is expected to grow by USD 7.97 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 3.08% during the forecast period. Cotton cultivation boosts economic growth as it is a source of livelihood. This notably drives the cotton market. However, factors such as overconsumption of water due to poor management and water pollution may impede market growth. The market is segmented by Application (Cotton fiber, Cotton seed oil, and Cotton seed), Distribution Channel (Offline and Online), and Geography (APAC, Middle East and Africa, North America, South America, and Europe).
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Key Segment Analysis
- The cotton fiber segment is estimated to witness significant growth during the forecast period. Cotton is a soft and natural fiber that grows on shrubs in tropical and subtropical regions all over the world. It is a staple of the textile industry, with India being the largest producer of cotton globally. The cotton industry is currently experiencing a significant boom due to the growth of the global textile mills and apparel manufacturing market. The demand for cotton fiber is driven by consumer preferences and tastes. Cotton accounts for one-third of all fibers produced worldwide, as it is the most commonly used natural fiber in textiles.
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Geographical Market Analysis
- APAC is estimated to account for 87% of the global market growth during the forecast period. Cotton production in the Asia Pacific region dominates the global market. However, unlike Western countries where cotton is mainly grown for exports, most of the cotton produced in APAC is consumed domestically. China is the leading global producer and exporter of cotton. Due to the increasing usage of cotton as a primary material in clothing, a rise in population, disposable incomes, and demand for home furnishing products, the textile industry in APAC is growing. This growth is positively impacting the cotton market in the region. Cotton is the primary cash crop in countries like China, India, Bangladesh, and Pakistan in the APAC region.
Company Insights
The cotton market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including: Ambika Cotton Mills Ltd., Asha Cotton Industries, 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.
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Related Reports:
The Cottonseed Oil Market is projected to increase by 965.24 thousand tons from 2022 to 2027. The market is estimated to grow at a CAGR of 3.6% between 2022 and 2027.
The cotton harvester market share is expected to increase to USD 712.97 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.78%.
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Cotton Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.08% |
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Market growth 2023-2027 |
USD 7.97 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
2.68 |
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Regional analysis |
APAC, Middle East and Africa, North America, South America, and Europe |
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Performing market contribution |
APAC at 87% |
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Key countries |
Turkey, China, India, Pakistan, and Bangladesh |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
ToC:
Excustive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
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Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
