Cotton has played a chief part in industrial evolution beginning in the eighteenth century. It also plays an important role in textile industry. It is a labour-intensive cash crop mass-produced across the globe. Cotton majorly supports the global textile mills market and the global apparel manufacturing market. According to Renub Research, Global Cotton Market is expected to reach US$ 46.56 Billion by 2027, with a CAGR of 2.74% from 2020 to 2027.
Cotton is also a very political crop since its importance is in the world exchange of many evolving countries. Cotton grows in nearly all tropical and subtropical regions around the world. Being fairly salt- and drought-tolerant makes cotton an appealing crop for the arid and semi-arid regions. Cotton has many other uses, across many different industries like in Woven Fabrics, Clothing, Bed Sheets and Towels, Home décor, Cottonseed Oil, Pharmaceuticals, etc.
India, China, Pakistan and United States are major producers of cotton worldwide. United States exports most of its cotton produce as it has less developed textile industry. Asian countries dominate the cotton production as well as they are also one of the biggest consumers of cotton. China, India, Pakistan, and Bangladesh are the largest cotton consumers worldwide, accounting for one of the highest global consumption. In recent years both countries Vietnam and Uzbekistan have also emerged as a major consumer of cotton.
Since many years, China and India have been the core markets for cotton consumption. In India, the supremacy of the textile sector exists, as it consumes most of the country’s cotton. Similarly, considerable cotton exporters are the United States, Brazil and India. The core importers are China, Bangladesh and Vietnam. For the year 2020, Worldwide Cotton Market was US$ 38.54 Billion.
The Cotton Market’s significant players are Unifi Inc, Weiqiao Textile Company Limited, Lu Thai Textile Co. Ltd., Gokak Mills, Vardhman Group, Damodar Group, Banswara Syntex Limited, Shri Vallabh Pittie Group, and Oswal Group
Renub Research latest report titled “Global Cotton Market & Volume by Consumption (China, India, Pakistan, Bangladesh, Turkey, Vietnam, Uzbekistan, Other), Production (India, China, United States, Brazil, Pakistan, Uzbekistan, Turkey, Other), Export (United States, Brazil, India, Australia, Benin, Greece, Cote d’Ivoire, Other) Import (China, Bangladesh, Vietnam, Turkey, Pakistan, Indonesia, India, Other), Company (Unifi Inc, Weiqiao Textile Company Limited, Lu Thai Textile Co. Ltd., Gokak Mills, Vardhman Group, Damodar Group, Banswara Syntex Limited, Shri Vallabh Pittie Group, and Oswal Group)” covers insights on Global Cotton Industry.
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