Cotton booms in China and India, market to hit $21 billion by 2030

The cotton industry in China and India is projected to reach $21.23 billion by 2030, at a growth rate of 3.8 per cent. This rise is attributed to economic reforms that opened both countries to global trade. This has led to increased competition, but also new opportunities for exports and investment.

Innovation is also playing a key role. Advancements in biotechnology are creating cotton varieties with improved drought tolerance, fiber quality, and pest resistance. These R&D investments are crucial for the long-term health of the cotton industry in these countries.

Trade and politics also play a part. Trade agreements can impact costs and access to new markets, while geopolitical tensions can disrupt supply chains.

Within the market, upland cotton reigns supreme, accounting for over a third of the revenue in 2023. Sustainability is a growing concern, with both countries adopting eco-friendly practices and certifications to meet consumer demand. Meanwhile, medium staple cotton is expected to see the fastest growth, driven by China's massive textile industry.

China holds the lion's share of the market, thanks to its dominant position in global textile production and consumption. Rising disposable incomes and a growing middle class in both countries further fuel the demand for cotton-based products like clothing and home furnishings.