Market Size of North America Cotton Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.91 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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North America Cotton Market Analysis
The North America Cotton Market size is estimated at USD 13.48 billion in 2023, and is expected to reach USD 17.13 billion by 2028, growing at a CAGR of 4.91% during the forecast period (2023-2028).
- Cotton is one of North America's leading cash crops and the major regional market for cotton export. In North America, two main species of cotton are cultivated commercially: Upland cotton and Pima (extra-long staple) cotton. Upland cotton comprises the vast majority of production. For instance, according to the US Department of Agriculture (USDA), Upland cotton accounted for 97% of the total production in the United States in 2021.
- The United States produced almost 5 million more bales in 2021 compared to 2020. Recent technological advances such as biotechnology, various improvements, and the success of the boll weevil eradication program have increased cotton productivity across the country. However, there has been a reduction in cotton production from 2018 onwards in Mexico due to a ban on genetically modified (GM) cotton. The government has imposed no new guidelines regarding the approval of GM cotton in the country.
- The United States is North America's largest cotton-producing and exporting country, with 20% of the world's production in 2021. Texas is the largest producer, contributing approximately 40% of the United States cotton production. Cotton cultivation has been continuously increasing due to the global demand from the textile industry, which is the prime driver of the market.
North America Cotton Industry Segmentation
Cotton is a plant that produces soft, fluffy fibers used to make fabric. Cotton is one of the important cash crops, extensively used in the textile industry.
The North American cotton market is segmented by geography into the United States, Mexico, and Canada. The report offers an analysis of production (volume), consumption (value and volume), import (value and volume), export (value and volume), and price trend.
The report also offers the market sizing in terms of value (USD) and volume (metric ton).
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North America Cotton Market Size Summary
The North American cotton market is a significant component of the region's agricultural economy, with the United States leading in both production and export. Cotton, particularly Upland cotton, is a major cash crop in the region, driven by its essential role as a raw material in the textile industry. The market is characterized by advancements in agricultural technology and practices, such as biotechnology and successful pest control programs, which have enhanced cotton productivity. However, challenges such as the ban on genetically modified cotton in Mexico have impacted production levels. The United States, with Texas as its largest producing state, remains a key player in the global cotton market, contributing a substantial portion of the world's cotton supply.
The textile industry is a primary driver of the North American cotton market, with significant demand for cotton-based materials. The United States-Mexico-Canada Agreement (USMCA) has further bolstered trade within the region, enhancing the textile industry's growth prospects. The United States also plays a pivotal role in textile research and development, leading to innovations in textile materials. Despite being a major cotton exporter, the United States imports limited quantities from other countries, focusing on expanding its export markets through government-supported programs. The ongoing investments and trade agreements are expected to sustain the growth of the cotton market in North America over the forecast period.
North America Cotton Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain Analysis
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2. MARKET SEGMENTATION
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2.1 Geography
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2.1.1 United States
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2.1.1.1 Production Analysis
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2.1.1.2 Consumption Analysis and Market Value
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2.1.1.3 Import Market Analysis (Volume and Value)
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2.1.1.4 Export Market Analysis (Volume and Value)
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2.1.1.5 Price Trend Analysis
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2.1.2 Canada
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2.1.2.1 Production Analysis
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2.1.2.2 Consumption Analysis and Market Value
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2.1.2.3 Import Market Analysis (Volume and Value)
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2.1.2.4 Export Market Analysis (Volume and Value)
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2.1.2.5 Price Trend Analysis
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2.1.3 Mexico
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2.1.3.1 Production Analysis
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2.1.3.2 Consumption Analysis and Market Value
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2.1.3.3 Import Market Analysis (Volume and Value)
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2.1.3.4 Export Market Analysis (Volume and Value)
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2.1.3.5 Price Trend Analysis
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North America Cotton Market Size FAQs
What is the current North America Cotton Market size?
The North America Cotton Market is projected to register a CAGR of 4.91% during the forecast period (2024-2029)
What years does this North America Cotton Market cover?
The report covers the North America Cotton Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Cotton Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
