Singapore: Cotton Bag Market 2024

Cotton Bag Market Size in Singapore

For the third consecutive year, the Singaporean cotton bag market recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption recorded moderate growth. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Cotton Bag Production in Singapore

In value terms, cotton bag production surged to $X in 2022 estimated in export price. Overall, production saw a significant expansion. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Cotton Bag Exports

Exports from Singapore

In 2022, overseas shipments of sacks and bags of cotton decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, cotton bag exports declined sharply to $X in 2022. In general, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then contracted markedly in the following year.

Exports by Country

Malaysia (X tons) was the main destination for cotton bag exports from Singapore, with a X% share of total exports. Moreover, cotton bag exports to Malaysia exceeded the volume sent to the second major destination, Australia (X tons), twofold. The third position in this ranking was held by Thailand (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Thailand (X% per year).

In value terms, Australia ($X), Malaysia ($X) and Thailand ($X) appeared to be the largest markets for cotton bag exported from Singapore worldwide, together comprising X% of total exports. Indonesia, Japan, Hong Kong SAR and South Korea lagged somewhat behind, together comprising a further X%.

South Korea, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cotton bag export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cotton bag export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced mixed trend patterns.

Cotton Bag Imports

Imports into Singapore

For the third consecutive year, Singapore recorded growth in purchases abroad of sacks and bags of cotton, which increased by X% to X tons in 2022. Overall, imports, however, showed a slight contraction. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, cotton bag imports expanded sharply to $X in 2022. Over the period under review, imports continue to indicate a strong increase. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

India (X tons), China (X tons) and South Africa (X tons) were the main suppliers of cotton bag imports to Singapore, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Africa (with a CAGR of X.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest cotton bag suppliers to Singapore were India ($X), China ($X) and Malaysia ($X), with a combined X% share of total imports.

In terms of the main suppliers, India, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cotton bag import price stood at $X per ton in 2022, dropping by X% against the previous year. In general, the import price, however, saw a buoyant increase. The growth pace was the most rapid in 2019 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :