Mattocks And Rakes Market

The article discusses the increasing demand for mattocks, picks, hoes, and rakes worldwide, forecasting a growth trend in market consumption, production, imports, and exports over the next eight years. Key points include expected CAGR, market volume, value, and trends in consumption, production, import prices, and exports for major countries such as China, Mozambique, United States, India, and Mexico.

Market Forecast

Driven by increasing demand for mattocks, picks, hoes and rakes worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.6% for the period from 2022 to 2030, which is projected to bring the market volume to 329K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.0% for the period from 2022 to 2030, which is projected to bring the market value to $1.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Mattocks, Picks, Hoes And Rakes

Global mattocks and rakes consumption expanded rapidly to 268K tons in 2022, growing by 5.8% on 2021. In general, the total consumption indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.2% against 2020 indices. Over the period under review, global consumption attained the maximum volume at 269K tons in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

The global mattocks and rakes market value amounted to $791M in 2022, growing by 8.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +64.0% against 2016 indices. Over the period under review, the global market reached the peak level in 2022 and is likely to see steady growth in years to come.

Consumption By Country

The country with the largest volume of mattocks and rakes consumption was China (50K tons), accounting for 19% of total volume. Moreover, mattocks and rakes consumption in China exceeded the figures recorded by the second-largest consumer, Mozambique (23K tons), twofold. The United States (22K tons) ranked third in terms of total consumption with an 8.1% share.

In China, mattocks and rakes consumption increased at an average annual rate of +8.2% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: Mozambique (+25.2% per year) and the United States (+3.6% per year).

In value terms, China ($108M), the United States ($94M) and Mozambique ($44M) constituted the countries with the highest levels of market value in 2022, together comprising 31% of the global market.

Mozambique, with a CAGR of +26.1%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of mattocks and rakes per capita consumption was registered in Mozambique (705 kg per 1000 persons), followed by Uganda (198 kg per 1000 persons), Tanzania (125 kg per 1000 persons) and the United States (65 kg per 1000 persons), while the world average per capita consumption of mattocks and rakes was estimated at 34 kg per 1000 persons.

In Mozambique, mattocks and rakes per capita consumption increased at an average annual rate of +21.7% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Uganda (+3.2% per year) and Tanzania (-3.8% per year).

Production

World Production of Mattocks, Picks, Hoes And Rakes

In 2022, global mattocks and rakes production totaled 248K tons, growing by 2.8% against 2021. Overall, the total production indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.8% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 30% against the previous year. Global production peaked at 258K tons in 2020; however, from 2021 to 2022, production remained at a lower figure.

In value terms, mattocks and rakes production expanded modestly to $730M in 2022 estimated in export price. In general, the total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.3% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of 12%. Over the period under review, global production hit record highs at $747M in 2020; however, from 2021 to 2022, production failed to regain momentum.

Production By Country

China (136K tons) constituted the country with the largest volume of mattocks and rakes production, comprising approx. 55% of total volume. Moreover, mattocks and rakes production in China exceeded the figures recorded by the second-largest producer, India (23K tons), sixfold. The third position in this ranking was held by Mexico (13K tons), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +4.2%. In the other countries, the average annual rates were as follows: India (+1.8% per year) and Mexico (+2.8% per year).

Imports

World Imports of Mattocks, Picks, Hoes And Rakes

After three years of growth, purchases abroad of mattocks, picks, hoes and rakes decreased by -4.2% to 143K tons in 2022. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 18% against the previous year. Global imports peaked at 150K tons in 2021, and then reduced modestly in the following year.

In value terms, mattocks and rakes imports reached $426M in 2022. Overall, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.7% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 28%. Global imports peaked in 2022 and are expected to retain growth in years to come.

Imports By Country

Mozambique (23K tons) and the United States (21K tons) represented roughly 31% of total imports in 2022. Uganda (9.6K tons) held a 6.7% share (based on physical terms) of total imports, which put it in second place, followed by Tanzania (5.5%). Germany (4.3K tons), Rwanda (4.1K tons), Ghana (3.1K tons), France (3.1K tons), the UK (2.8K tons), Kenya (2.5K tons) and the Netherlands (2.2K tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mozambique (with a CAGR of +25.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($95M) constitutes the largest market for imported mattocks, picks, hoes and rakes worldwide, comprising 22% of global imports. The second position in the ranking was held by Mozambique ($42M), with a 9.8% share of global imports. It was followed by Germany, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +6.2%. In the other countries, the average annual rates were as follows: Mozambique (+26.6% per year) and Germany (+7.5% per year).

Import Prices By Country

The average mattocks and rakes import price stood at $2,973 per ton in 2022, with an increase of 4.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 16%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($6,689 per ton), while Kenya ($863 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Mattocks, Picks, Hoes And Rakes

In 2022, after five years of growth, there was significant decline in shipments abroad of mattocks, picks, hoes and rakes, when their volume decreased by -10.4% to 123K tons. The total export volume increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 14%. Over the period under review, the global exports hit record highs at 138K tons in 2021, and then reduced in the following year.

In value terms, mattocks and rakes exports stood at $444M in 2022. In general, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.6% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 20% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports By Country

China dominates exports structure, amounting to 87K tons, which was near 70% of total exports in 2022. Mexico (7.4K tons) took the second position in the ranking, followed by India (6.2K tons). All these countries together took near 11% share of total exports. Brazil (4.3K tons), Vietnam (2.1K tons) and the Netherlands (1.9K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to mattocks and rakes exports from China stood at +2.5%. At the same time, the Netherlands (+39.3%), Vietnam (+15.6%), Brazil (+9.6%) and Mexico (+1.6%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +39.3% from 2012-2022. By contrast, India (-3.7%) illustrated a downward trend over the same period. China (+5.1 p.p.) and Brazil (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while India saw its share reduced by -3.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($274M) remains the largest mattocks and rakes supplier worldwide, comprising 62% of global exports. The second position in the ranking was held by Mexico ($28M), with a 6.4% share of global exports. It was followed by Brazil, with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +8.1%. In the other countries, the average annual rates were as follows: Mexico (+3.6% per year) and Brazil (+11.0% per year).

Export Prices By Country

The average mattocks and rakes export price stood at $3,600 per ton in 2022, rising by 13% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($6,850 per ton), while India ($2,652 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform