In 2023, the highest demand for cottonseed was seen in China, India, and the United States, with shares of 23.83, 23.25, and 12.56 thousand metric tons, respectively. China and India, leading the market, experienced slight declines from the previous year. The US, however, showed a modest increase in demand. Significant growth rates were observed in countries like Benin (3.38%), Burkina Faso (2.7%), and Azerbaijan (3.47%). On the contrary, notable declines were registered in Greece (-2.15%), Myanmar (-3.41%), and Italy (-3.92%). Over five years, Morocco, Cyprus, and Bulgaria displayed impressive compound annual growth rates, while countries like Peru and the Central African Republic witnessed considerable drops.
Looking ahead, the global cottonseed market is expected to witness some shifts. Emerging markets in Africa are likely to contribute to higher growth rates, driven by increased agricultural investments and improved farming practices. Meanwhile, developed markets may see slower growth or minor contractions due to market saturation and shifting agricultural priorities. Monitoring environmental policies, trade regulations, and technological advancements will be crucial for understanding future trends in global cottonseed demand.
Top countries in Cottonseed Demand Share by Country (Thousand Metric Tons)
# | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
---|---|---|---|---|---|---|
1 | 1 China | 23.83 | 2023 | -1.71% | -1.74% | View data |
2 | 2 India | 23.25 | 2023 | -1.82% | -0.73% | View data |
3 | 3 United States | 12.56 | 2023 | +0.49% | +1.15% | View data |
4 | 4 Pakistan | 7.42 | 2023 | -2.57% | -1.82% | View data |
5 | 5 Brazil | 7.39 | 2023 | +0.87% | -0.44% | View data |
6 | 6 Uzbekistan | 3.03 | 2023 | -3.33% | -1.9% | View data |
7 | 7 Australia | 3.02 | 2023 | +1.8% | -0.13% | View data |
8 | 8 Mexico | 1.99 | 2023 | +2.23% | +0.87% | View data |
9 | 9 Mali | 1.53 | 2023 | +1.69% | +1.5% | View data |
10 | 10 Benin | 1.15 | 2023 | +3.45% | +3.38% | View data |