China Cotton Market – Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
Report on China Cotton Market – Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
Introduction to China Cotton Market
Beautiful fabrics last; synthetics don’t. Certain fabrics, such as linen or cotton, develop their own character over time. John Rocha, a Hong Kong designer said this regarding cotton. Cotton has been an extremely integral cash crop for the world. China has been the highest cotton producing nation since the better part of four decades. That was until India surpassed China last year due to rising tensions and the brewing trade war between the United States and China. The primary regions where cotton grows in China are the Xinjiang Autonomous Region, the Yangtze River Basin (including provinces of Jiangxi and Hubei), and the Huang-Huai Region (mainly in provinces of Hebei, Henan, and Shandong). There are two types of cotton produced in the country, namely the Bt and the non-Bt varieties. Introduced in 2002, Bt cotton is the genetically modified crop used for commercial production.
Cotton is mainly used in textile industry. Almost everything we wear or use can be made out of cotton ranging from socks to jeans to shirts to towels and many such cloths. Cotton in conjunction with other fibres can be used to form synthetic fibres such as rayon. It also finds its uses in fishing nets, tents and other varied items in use.
With cotton playing such a pivotal role in day to day use, it has consistently high demand throughout the planet. This would mean high prices and thus, high incomes for farmers that grow them. However, especially in developing countries, the price benefits do not pass to the people that grow them leading to many disputes between countries. Cotton futures contracts are traded on the New York Mercantile Exchange; such is the importance of it.
Along with China, India, United States, China and Pakistan are the top five cotton producing countries in the world as of last year. India topped with 6.21 million metric tons with China coming in second with just under 6 million metric tons. Interestingly, China is also one of the highest importers, grabbing the third position with 1.24 million metric tons of cotton imported as of last year, behind only Bangladesh and Vietnam. According to Reuters, by next year, China will have imported more than double the current imports reaching 3 million metric tonnes.
There are huge opportunities for China to ramp up its cotton production according to projections by U.S. Department of Agriculture’s (USDA) that world cotton consumption will exceed production. This will provide a platform for China to show its mettle by reclaiming the top spot in the production of cotton. Although, as the demand for polyester rises and it is giving a fight to substitute cotton, world cotton demand may suffer in the near future, giving all high cotton producing nations a pause. China will have to strategically make its moves regarding the market so as to benefit itself in the long run.
The report contains a comprehensive analysis on:
- China Cotton Market Segments
- China Cotton Market Drivers, Restraints and Opportunities
- China Cotton Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- China Cotton Market Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for China Cotton Market includes:
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macroeconomic factors, and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in terms of volume and value
- Recent market trends and Impact Factors
- R&D Status and Technology Overview
- Extensive Industry Structure Coverage