According to forecasts, Vietnam and Bangladesh will become leaders in cotton consumption growth in the next 10 years. This is stated in the July report Agricultural Outlook de la Ocde-FAO.

These countries will increase cotton consumption by an average of 3.3% per year, ahead of India, which, as the second largest cotton-consuming country in the world, will increase the figure by 2.3%. China, which now accounts for 31.8% of the total volume of cotton used, will increase its production by only 0.88%. As a result, in 10 years its share in global consumption will decrease to 29.4%.

Although China has remained a leader in cotton clothing production since 1960, its position has been undermined by factors such as rising labor costs and stricter environmental regulations. This opens up opportunities for other countries in the Asian region, which can boast lower costs and a more loyal attitude to the environment.

Overall, global cotton consumption is expected to grow by 1.7% annually until 2033. Cotton production is projected to grow by 1.3% to 29 million tons by 2033.

The report notes that the increase in yields will be driven by advances in genetics, improved farming methods, the introduction of new technologies and greater digitalization of processes. Demand for cotton will also be stimulated by growing concern about environmental issues and interest in sustainable or organic materials.

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