What is the value of jute fiber in the global market?
In 2018, the global jute fiber market increased by around 4.6% from the previous year and accounted for around 2.7 billion USD. The average jute import price dropped by around 7.9% and stood for $669 per tonne. The countries having the highest volume of jute consumption was India (2.1M tonnes) followed by Bangladesh (1.4M tonnes) and Pakistan (91K tonnes). These 3 countries have a global consumption of 90%.
The highest value in the global market was reported by India ($1.2B) followed by Bangladesh ($899M) and Pakistan ($70M). This was because the jute production was highest in India (2.1M tonnes) followed by Bangladesh. Even global export was around 291K tonnes in 2018. Bangladesh dominated the jute fiber export market by a share of 79%. Other exporting countries include Tanzania, Belgium, Kenya, and Malaysia.
Among the importing countries of jute fiber, Pakistan had the highest share of around 31% followed by India, Nepal. These three countries have 56% share of global imports. Other countries leading to the jute import market are China, Germany, and the UK.
The global jute fiber market can be segmented on the following basis:
• Based on Product Type: On the basis of product type, the jute fiber market is divided into planted Jute, Natural Jute, and others.
• Based on Application: On the basis of application, the jute fiber market is divided into textile, biodegradable, fiberboard, others.
• Based on Geographical region: On the basis of region, the jute fiber market is divided into North America (United States, Canada, Mexico), South America (Brazil, Argentina, Ecuador, Chile), Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), and Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran).
Some of the dominating manufacturers in the global jute fiber market are Bengal Jute Industries Limited (Bengal), Chouhan International (India), Indiamart (India), Chandra Prakash & Company (India), etc.