In a new report published by IndexBox, the cotton bags market in Asia reveals significant dynamics, highlighting trends, challenges, and the outlook toward 2035. The cotton sacks market recorded a consumption of 56,000 tons worth $519 million in 2024, with notable contributions from China, Pakistan, and India. Despite recent declines in both imports and exports and stark price disparities between countries, forecasts suggest a gradual growth trajectory for the market over the next decade.
Cotton Bag Consumption in Asia (Cotton Bags Market)
The consumption of cotton bags and sacks in Asia saw a slight increase in 2024, reaching 56,000 tons, which reflects a 2.6% rise from the previous year. This marks a continuation of an average annual growth rate of 2.5% since 2013. The peak consumption period occurred in 2024, and this upward trend is anticipated to persist.
However, the total market value showed a decline, dropping to $519 million, down 2.5% from 2023. The revenue figures reflect the total earnings of producers and importers, excluding logistics costs or retailer margins. Despite this, the overall market value grew at an average rate of 2.9% from 2013 to 2024, with a significant peak in 2020 when the market value surged by 8.9%.
Major Consumers
China emerged as the largest consumer of cotton bags, accounting for approximately 32% of total consumption, or 18,000 tons. Notably, this amount is more than double that of India, which consumed 7,400 tons, and significantly higher than Pakistan’s 3,800 tons. China’s cotton bag consumption climbed at an annual average rate of 2.4% between 2013 and 2024. In contrast, India and Pakistan recorded growth rates of 2.8% and 3.8%, respectively.
In terms of market value, China also topped the list at $185 million, followed by India at $58 million. Over the same timeframe, the average annual growth rate for the value in China was 1.9%, while India and Japan experienced respective growth rates of 6.2% and 2.5%.
Per Capita Consumption
The highest per capita cotton bag consumption levels in 2024 were recorded in Japan (27 kg per 1,000 persons), Turkey (25 kg per 1,000 persons), and South Korea (23 kg per 1,000 persons). Turkey saw the most significant growth in per capita consumption, achieving a CAGR of 4.8%.
Cotton Bag Production in Asia
The production of cotton sacks in Asia declined marginally in 2024, reaching 78,000 tons, a decrease of 1.3%. This marks the first downturn since 2021 and comes after two consecutive years of growth. Since 2013, production had seen robust growth, with an average annual increase of 3.1%. In value terms, production dropped to $672 million in 2024, reflecting a similar decline to previous years.
Top Producers
In 2024, the leading producers included China, Pakistan, and India, contributing 23,000 tons, 16,000 tons, and 13,000 tons, respectively. These three countries accounted for 66% of total production. Furthermore, Turkey displayed the most notable growth rate among producers, achieving a CAGR of 6.8% from 2013 to 2024.
Import and Export Trends
Import Dynamics
In 2024, imports of cotton bags fell by 5.6% to 1,900 tons, continuing a declining trend evident over the last four years despite two years of preceding growth. The total import value decreased to $23 million for the year, aligning with a broader downturn in the cotton market.
The leading importing nations in Asia included Hong Kong (281 tons), China (195 tons), and the United Arab Emirates (167 tons), totaling 74% of all imports. Notably, South Korea registered the fastest growth rate in cotton bag imports, with an impressive CAGR of 18%.
Export Landscape
Asia’s exports of cotton sacks and bags dipped to 25,000 tons in 2024, reflecting a downturn of 9.3%. Despite this drop, the export market has generally indicated growth, highlighted by a peak export volume of 42,000 tons in 2020. The total export value also decreased to $127 million.
Pakistan dominated the export market, contributing 51% of all exports at 13,000 tons. India followed with 5,700 tons, accounting for 23% of the total exports. Pakistan’s growth rate in exports was notable, with a CAGR of 5.9% over the last eleven years.
Price Variations
The average import price of cotton bags in Asia was $12,070 per ton in 2024, down 4.4% from the previous year. However, this represents a general trend of increasing prices, hitting a peak of $12,631 per ton in 2023. Discrepancies exist among importing countries, where China’s import price was notably high at $27,533 per ton, contrasting sharply with prices in Pakistan at just $1,156 per ton.
Market Outlook
The cotton sacks and bags market in Asia is poised for growth, predicted to increase in volume to 60,000 tons and reach a value of $602 million by 2035. This translates to a CAGR of 0.6% in volume and 1.4% in value from 2024 to 2035.
In summary, while recent years have showcased volatility in production and trade dynamics, Asia’s cotton bags market is forecast to adapt and expand, driven by a steady rise in consumption and changing economic factors across key markets.
