NEW YORK, March 12, 2024 /PRNewswire/ — The global cotton market size is estimated to grow by USD 7.97 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of almost 3.08% during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 87%. For more insights on the historic (2017 – 2021) and forecast market size (2023-2027) – Request a sample report
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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 |
Drivers
The cotton industry encompasses various applications, generating approximately USD50 billion annually. Key products include cotton swabs, rounds, and traditional diapers. The USDA monitors export volumes of this natural fiber, primarily used in apparel, home furnishings, and industrial products. Cottonseed oil is a byproduct, contributing to the industry’s economic significance. In over 70 countries, cotton farming provides employment for 100 million family farmers, making it a vital source of income and export revenues, particularly for underdeveloped nations.
Challenges
Cotton is a versatile natural fiber, accounting for one-third of global textile production. It is used to create various fabrics for apparel (64%), home furnishings (28%), and industrial applications (8%). In the healthcare sector, cotton is utilized in the production of cotton swabs and rounds. Cottonseed oil, derived from cotton seeds, is a cholesterol-free product with extensive uses. The US Department of Agriculture (USDA) reports significant export volumes of cotton and cottonseed oil. Traditional diapers also incorporate cotton fibers. Industrial applications include plastics, rubber, and pharmaceuticals.
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Key Company
Cotton Market is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Cotton Market report includes information on the product launches, sustainability, and prospects of leading vendors 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, Weiqiao Textile Co. Ltd. .To know about vendor offerings
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
