In speculation, it is expected that by 2025, the global cotton market will reach $5.59 billion and there will be a firm development at a compounded annual growth rate (CAGR) of 3 per cent between 2021 and 2025. There are numerous initiatives being taken by the government of several nations to help support cotton farming. For example, A lot of export promotion policies have been introduced by the Indian government. India’s Defence Research and Development Organization is accommodating their garment industry to produce yarns and eliminate the dependence on the import of Chinese products and other foreign clothing for military uniforms.
Furthermore, with two-thirds of developing countries dependent on the export of commodities, a core part of the work of the UN Conference and Trade and Development involves building countries’ capacity to move up the value chain and diversify their exports. These factors will drive the cotton market over the forecast period.
“The growing use of cotton as prime material coupled with the support in economic growth and cotton as a source of livelihood will further boost market growth during the forecast period”, says a source.
The Asia-Pacific region (APAC) dominated the market in 2020 and is expected to maintain its lead over the forecast period. Eighty five per cent of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for cotton in APAC. Market growth in this region will be slower than the growth of the market in North America.
