The Global Cotton Market was worth US$ 38.54 billion in 2021 and is anticipated to reach the valuation of US$ 46.56 billion by 2027 and is predicted to register a CAGR of 2.74% during 2022-2027.
Since the eighteenth century, cotton has been an important aspect of industrial development. It also has a significant impact on the textile sector. It's a high-yielding cash crop that's mass-produced all over the world. Cotton is a major contributor to the worldwide textile mills and clothing manufacturing industries. Cotton is also a highly political crop due to its significance in the global exchange of many developing countries. Cotton may be found in practically every tropical and subtropical region on the planet. Cotton is an attractive crop for arid and semi-arid areas because it is salt and drought tolerant.
Cotton is the most commonly used natural fibre in textiles, accounting for one-third of all fibres produced globally. It may be used to create a variety of fabrics that are robust, water absorbent, and comfortable. It is well renowned for its versatility, performance, and comfort. Its applications, however, are not limited to textiles. Cotton plants produce lint and seeds, which are used to make fibre, edible oil, and animal feed. More specifically, fibre is derived from cotton lint, with 64 percent of the fibre produced going to clothes, 28 percent to home furnishings, and 8% to industrial uses.
Cotton seeds are crushed to produce cholesterol-free oil, which is used in cooking as well as in cosmetics, medicines, and personal care goods, as well as other industrial applications including polymers and rubber. Cotton seeds are also used to make a high-protein meal for animals and fowl. "Cotton is the most widely lucrative non-food crop in the world," according to the World Wildlife Fund.
A major trend in the global cotton market industry over the last decade is the rising adoption of VSSs by cotton producers.
VSS-compliant cotton accounted for 14.1% of the market in 2016, compared to only 1% in 2009. Cotton that was theoretically VSS-compliant, on the other hand, accounted for 0.8 percent of the market. In comparison, conventional cotton production accounted for 85.2 percent of the market, indicating that VSS adoption still has room to expand. Also, since cotton is used for various purposes, the demand can never fade out. There is always room for innovation and new product development.
Every step in the worldwide cotton–textile supply chain has been impacted by the pandemic. Many factories and businesses have shuttered as a result of public health instructions, causing many Western apparel designers to cancel or suspend existing orders. As a result, cotton farms and textile industries in many countries are projected to suffer. Several factors, notably the consequences of cotton stockpiling programs and the high sensitivity of cotton output to flooding, have already caused major price volatility in the sector. Despite the greater input prices and the impact on farmer debt levels, many farmers have become reliant on these seeds. Furthermore, cotton plantations have been linked to a number of societal ills, including low worker wages and documented incidences of slave labor.
Global Cotton Market - By Product:
In the forecast period 2022-2027, the lint sector is expected to account for the highest proportion of the cotton processing market. The fibre extracted from cotton seeds during the ginning process is known as lint. The rise of urbanization and changes in consumer lifestyles have resulted in increased demand for textiles, which is expected to fuel the lint segment's expansion even more. Furthermore, rising consumer awareness of product quality is expected to boost the cotton processing market in the future years.
The cotton processing market is divided into textiles, medicinal & surgical, feed, consumer goods, and others based on application. From 2022 to 2027, the textiles category is expected to be the fastest-growing segment in the cotton processing market. This is attributable to rising per capita income and shifting customer preferences, which is propelling market expansion. Furthermore, increased government investments and policy backing have driven the rise of the textile sector in nations like India and China.
Global Cotton Market - By Equipment Type:
From 2022 to 2027, the spinning segment is expected to be the leading market in the cotton equipment processing market. This is owing to rising yarn usage in the textile, medicinal, and consumer products industries. Consumer expectations are rising, which is stimulating technological advancements that will result in higher-quality items. Consumer preferences are evolving, and technology improvements are propelling the market forward.
Global Cotton Market - By Operation:
From 2022 to 2027, the automatic sector of the cotton processing ginning equipment market is expected to develop at the quickest rate. This is owing to machine makers' adoption of new technologies to increase mill productivity. Automatic equipment has cut labour costs and enhanced ginning mill profit margins. As a result, the automatic category is expected to increase even more in the coming years.
Global Cotton Market – By Region:
Over the period 2022-2027, in terms of cotton production and export, the United States is a prominent player in the global market. Approximately 20.0 million bales of cotton were produced in the United States in 2019-2020, accounting for nearly USD 7.0 million of the total value. The United States is the world's biggest cotton exporter, accounting for 37.8% of all worldwide cotton exports (2019). It helps to support the global textile industry while also allowing home farmers to market their crops through global trade. The export levels of the United States have increased dramatically since 2016. This is due to high-quality crop production paired with low levels of production from other growers. In addition, the United States is a major exporter of cotton items.
China and India combined accounted for 50.9 percent of global cotton production, with the United States coming in second. Due to the dropping price trend in the international market, global cotton production is predicted to expand at a slower rate than consumption over the forecast period. Because of the country's underdeveloped textile sector, the majority of cotton produced in the United States is exported. Although Asia dominates global cotton production, the majority of the cotton produced is consumed locally. China has the greatest market share, accounting for 29.0 percent of global cotton output and roughly 49.0 percent of milled cotton consumed. Similarly, the textile sector dominates in India, as it utilizes the majority of the cotton produced in the country.
Over the next decade, Bangladesh and Vietnam are likely to be the leading importers. Both countries are expected to boost their imports by more than 43% by 2029. They will account for more than 40% of global imports when combined.
Cotton is a significant export crop for Sub-Saharan Africa, which presently accounts for 15% of world exports (with West Africa accounting for about 75% of production and shipments). The top producing countries, Burkina Faso, Benin, Mali, and Côte d'Ivoire, have seen their volumes increase as a result of increased land area and government backing.
The Global Cotton Market was worth US$ 38.54 billion in 2021 and is anticipated to reach the valuation of US$ 46.56 billion by 2027.
In the forecast period 2022 - 2027, USA is expected to be the largest global cotton exporter.
Unifi Inc, Weiqiao Textile Company Limited, Lu Thai Textile Co. Ltd. are the three-cotton market key players.
The pandemic has hit the market hard and effected all stages of production and distribution.
A major trend in the cotton industry over the last decade is the rising adoption of VSSs by cotton producers.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: firstname.lastname@example.org