United Kingdom: Market for Jute And Jute-Like Fibers 2024

Market Size for Jute And Jute-Like Fibers in the UK

The UK jute and jute-like fibers market dropped markedly to $X in 2022, declining by X% 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). Overall, consumption, however, continues to indicate a buoyant expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Exports of Jute And Jute-Like Fibers

Exports from the UK

Jute and jute-like fibers exports from the UK soared to X tons in 2022, increasing by X% against the previous year. In general, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, jute and jute-like fibers exports fell slightly to $X in 2022. Over the period under review, exports showed a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guinea (X tons), Ireland (X tons) and Portugal (X tons) were the main destinations of jute and jute-like fibers exports from the UK, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X), the United States ($X) and Guinea ($X) were the largest markets for jute and jute-like fibers exported from the UK worldwide, together accounting for X% of total exports. Portugal, the United Arab Emirates, Falkland Islands (Malvinas) and Nigeria lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Portugal, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average jute and jute-like fibers export price stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the export price, however, recorded strong growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then dropped dramatically in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guinea ($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 Portugal (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Imports of Jute And Jute-Like Fibers

Imports into the UK

In 2022, the amount of jute and jute-like fibers imported into the UK dropped remarkably to X tons, shrinking by X% compared with the previous year's figure. Over the period under review, imports, however, continue to indicate mild growth. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, jute and jute-like fibers imports fell notably to $X in 2022. Overall, imports, however, saw a strong increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Bangladesh (X tons) constituted the largest jute and jute-like fibers supplier to the UK, accounting for a X% share of total imports. Moreover, jute and jute-like fibers imports from Bangladesh exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Bangladesh stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and China (X% per year).

In value terms, Bangladesh ($X) constituted the largest supplier of jute and jute-like fibers to the UK, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Bangladesh stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Belgium (X% per year).

Import Prices by Country

The average jute and jute-like fibers import price stood at $X per ton in 2022, growing by X% against the previous year. Overall, import price indicated a remarkable 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, jute and jute-like fibers import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. The import price peaked in 2022 and is expected to retain growth in the near future.

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 India ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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