Cotton Market size to grow by USD 7.97 billion during 2023 to 2027, 87% of market growth expected in APAC, Technavio

NEW YORK, March 28, 2024 /PRNewswire/ -- 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%. APAC drives 87% of global market growth, led by China's dominant textile production and export market. Growing cotton fiber usage in clothing and home furnishing, fueled by rising populations and incomes, propels the region's textile industry. India emerges as a key player, poised to dominate the APAC market next.

Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report

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Technavio has extensively analyzed 15 major 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, and Weiqiao Textile Co. Ltd. and Vendor Offering for any 2 Vendors

Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Customer Landscape - Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

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Cotton Market - Segmentation Assessment

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)

The Cotton Fiber segment, valued at USD 35.50 billion in 2017, leads the market. Primarily produced in tropical and subtropical regions like India, it's integral to the textile industry's growth. With China and India processing the majority of global production, the demand for natural fibers fuels market expansion.

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Regional Analysis:

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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What are the key data covered in this Cotton Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Cotton Market between 2023 and 2027
• Precise estimation of the size of the Cotton Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Cotton Market industry across APAC, Middle East and Africa, North America, South America, and Europe
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Cotton Market vendors

Analyst Review:

The Cotton Market remains a vital component of the global textile industry, serving various sectors including apparel manufacturing markets, home furnishings, and industrial products. With the rise in global textile mills and apparel manufacturing markets, the demand for cotton continues to witness steady growth.

Cotton yarn, an essential raw material in textile production, drives the demand for cotton, leading to increased cotton consumption worldwide. The versatility of cotton makes it a preferred choice for a wide range of textile products, including garments, knitted fabrics, and home furnishings.

Moreover, cotton's significance extends beyond the textile industry, finding applications in medical dressings, medical gauze, cotton swabs, and traditional diapers. Cottonseed oil, a by-product of cotton production, serves various industrial and culinary purposes, further enhancing the market's value.

Market trends indicate a steady increase in cotton exports, driven by export demand from countries heavily reliant on cotton for apparel manufacturing and industrial products. Organizations like the METI (Ministry of Economy, Trade and Industry) and the US Department of Agriculture (USDA) play crucial roles in monitoring and analyzing cotton production, consumption, and export volumes.

In conclusion, the cotton market remains integral to various industries, offering a versatile and sustainable solution for textile and non-textile applications alike. With increasing global demand and evolving market trends, cotton continues to be a cornerstone of the global economy.

Market Overview:

The Cotton Market is a vital component of the global textile industry, with tropical and subtropical regions serving as major production hubs. Cotton fibers sourced from these regions are indispensable in the manufacturing processes of various textile products, including apparel, garments, home furnishings, and industrial products. The demand for cotton is driven by the global textile mills and apparel manufacturing markets, with export demand playing a significant role in shaping market dynamics. Cotton yarn, known for its versatility and durability, is a key intermediary product used in the production of textiles. The METI (Ministry of Economy, Trade and Industry) and the US Department of Agriculture (USDA) monitor cotton production, consumption, and export volume, providing valuable insights into market trends. Additionally, cotton finds applications beyond textiles, such as in medical dressings, gauze, swabs, traditional diapers, and cottonseed oil, further underscoring its versatility and importance in various industries.

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The cotton ginning machines market size is forecast to increase by USD 24.27 million, at a CAGR of 3.18% between 2023 and 2028. 

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About US
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.

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Website: www.technavio.com/

SOURCE Technavio

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