Africa Cotton Market Outlook
According to a new report by Expert Market Research titled, “Africa Cotton Market Share, Size, Analysis, Report and Forecast 2023-2028″, the Africa cotton market reached a value of USD 6.10 billion in 2022. Aided by enduring demand for natural fibres in the global textile industry and the strategic positioning of Africa as a primary cotton-growing region, the market is projected to further grow at a CAGR of 3.7% between 2023 and 2028 to reach a value of USD 7.53 billion by 2028.
Cotton, a soft, fluffy staple fibre, is native to tropical and subtropical regions, including parts of Africa. The continent is home to several nations that have historically been engaged in cotton cultivation, making cotton an integral component of the African agricultural landscape. Cotton is utilised in a plethora of products, ranging from apparel, home furnishings to industrial threads, and medical supplies. Its breathability, hypoallergenic properties, and moisture control capabilities make it a favourite in the textile sector.
The relentless global demand for natural fibres is one of the primary Africa cotton market trends driving the market. As consumers worldwide become increasingly eco-conscious and shift away from synthetic materials due to their environmental footprint, the allure of cotton, particularly organically grown cotton, has surged. African nations, with their vast tracts of arable land, favourable climate, and traditional farming techniques, are well-poised to cater to this demand.
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Moreover, the boom in the fashion industry and the growth of fast fashion have consistently sustained the global appetite for cotton, propelling the Africa cotton market demand. With Africa’s strategic alliances and trade agreements offering preferential access to major consumer markets, the continent’s cotton exports have seen a steady uptick.
Several African countries are also making concerted efforts to climb up the value chain. Instead of just exporting raw cotton, there’s a push towards increasing domestic cotton processing, thereby exporting higher-value products like yarns and fabrics. This not only increases the Africa cotton market share profitability but also aids in job creation and industrial development.
Furthermore, the move towards sustainable farming in Africa holds promise. Initiatives aimed at promoting organic cotton cultivation, reducing the usage of water, and minimising chemical inputs are gaining traction. Not only does this make environmental sense, but it also appeals to a segment of consumers willing to pay a premium for eco-friendly products, thereby boosting the Africa cotton market expansion.
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Africa Cotton Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
Market Breakup by Application
- Cotton Fibre
- Cottonseed Oil
Market Breakup by Region
- South Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Africa cotton market. Some of the major players explored in the report by Expert Market Research are as follows:
- China-Africa Cotton Development Limited
- Olam Agri Holdings Pte Ltd
- JMV Textiles (Pty) Ltd.
- Standerton Mills
- Cottco (Pvt) Ltd.
- Ivoire Coton
- Compagnie Malienne pour le Développement des Textiles (CMDT)
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