India: Travelling Wool Rug Market 2024

Travelling Wool Rug Market Size in India

The Indian travelling wool rug market declined to $X in 2022, falling by -2.5% against the previous year. Overall, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 -8.1% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Travelling Wool Rug Production in India

In value terms, travelling wool rug production shrank to $X in 2022 estimated in export price. In general, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 -8.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 50% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

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Travelling Wool Rug Exports

Exports from India

In 2022, shipments abroad of blankets and travelling rugs of wool increased by 6.5% to X units, rising for the second year in a row after four years of decline. Over the period under review, exports, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 49% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, travelling wool rug exports skyrocketed to $X in 2022. In general, exports saw noticeable growth. The pace of growth appeared the most rapid in 2021 with an increase of 71% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for travelling wool rug exports from India, with a 44% share of total exports. Moreover, travelling wool rug exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X units), threefold. The third position in this ranking was held by Germany (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-16.9% per year) and Germany (+36.8% per year).

In value terms, the United States ($X) remains the key foreign market for blankets and travelling rugs of wool exports from India, comprising 51% of total exports. The second position in the ranking was taken by Germany ($X), with a 13% share of total exports. It was followed by the UK, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+37.5% per year) and the UK (+8.2% per year).

Export Prices by Country

In 2022, the average travelling wool rug export price amounted to $X per unit, growing by 30% against the previous year. Over the period under review, the export price continues to indicate prominent growth. The growth pace was the most rapid in 2017 when the average export price increased by 40%. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Travelling Wool Rug Imports

Imports into India

In 2022, supplies from abroad of blankets and travelling rugs of wool increased by 1,131% to X units, rising for the second year in a row after two years of decline. In general, imports continue to indicate significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, travelling wool rug imports surged to $X in 2022. Over the period under review, imports posted a significant increase. The growth pace was the most rapid in 2014 with an increase of 317%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X units), France (X units) and Peru (X units) were the main suppliers of travelling wool rug imports to India, together accounting for 92% of total imports. Singapore and China lagged somewhat behind, together comprising a further 4.5%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +75.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of blankets and travelling rugs of wool to India, comprising 76% of total imports. The second position in the ranking was held by Singapore ($X), with a 7.1% share of total imports. It was followed by Malaysia, with a 5.4% share.

From 2012 to 2022, the average annual growth rate of value from France amounted to +55.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+58.1% per year) and Malaysia (0.0% per year).

Import Prices by Country

In 2022, the average travelling wool rug import price amounted to $X per unit, reducing by -78.6% against the previous year. Over the period under review, the import price showed a deep slump. The pace of growth was the most pronounced in 2020 when the average import price increased by 92%. The import price peaked at $X per unit in 2021, and then plummeted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for Peru ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+26.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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