Jute Market Size - By Product Type (Jute bags, Jute handicrafts, Jute textile, Jute apparel, Jute furnishings, other jute products) By Application (Residential, Commercial, Industrial) By Distribution Channel & Global Forecast, 2023-2032

Jute Market Size

Jute Market size in terms of transaction was valued at USD 2.5billion in 2022 and it is estimated to reach USD 4.9 billion by 2032 and is anticipated to register a CAGR of over 5.9% between 2023 and 2032. There is a growing global awareness of the environmental impact of synthetic materials, which has led to increased demand for sustainable and biodegradable materials like jute. Various governments have imposed regulations promoting the use of eco-friendly materials, which can boost the demand for jute.
 

The Synthetic materials like polypropylene have become popular due to their lower cost and specific properties. This competition can limit the growth of the market. In addition, Jute prices can be subject to fluctuations due to factors like weather conditions, global demand, and supply issues.
 

COVID-19 Impact

The jute industry often relies on a significant amount of manual labor. Lockdowns and labor shortages due to illness or safety concerns affected jute harvesting, processing, and manufacturing. In addition, international trade was disrupted due to the pandemic, affecting the export of jute products. Restrictions on cargo movements and changes in demand from importing countries had a notable impact on the jute export market.
 

Jute Market Trends

The global trend towards sustainability and eco-friendliness has benefited the market. Jute, as a natural and biodegradable fiber, has gained popularity as an alternative to synthetic materials for various applications, including packaging, textiles, and fashion items.
 

Jute Market Analysis

Based on product type, jute bag dominated the market with the largest market size of USD 0.85 billion in 2022. Growing awareness of the environmental impact of single-use plastics and synthetic materials has prompted consumers and businesses to seek eco-friendly alternatives. Jute bags are biodegradable and sustainable, making them an attractive choice for those concerned about the environment.

Based on application industrial segment dominated the jute market with the highest revenue share of 41% in 2022. The jute industry's innovation and diversification efforts have led to the development of jute-based composites and geo-textiles, expanding its scope in construction and civil engineering projects. Governments and environmental regulations are also playing a crucial role, with policies favoring the use of eco-friendly materials in various industrial applications. As a result, the industrial segment of the market is witnessing growth, as industries recognize the benefits of jute in reducing their environmental footprint while still meeting their performance and durability requirements.
 

Based on distribution channel the B2C dominated the segment with the highest revenue share of 66.3% in 2022. Government regulations and public initiatives to reduce single-use plastics, such as plastic shopping bags, have encouraged consumers to adopt reusable alternatives like jute bags. In addition, many B2C companies and brands offer customized jute bags as a promotional tool. Consumers appreciate personalized bags that reflect their unique style, and they often use them as fashion accessories or statement pieces.

The Asia Pacific dominated the regional segment with the highest jute market share of USD 1.28 billion in 2022. Jute has a long history in the region, particularly in countries like India and Bangladesh. It is deeply ingrained in the culture and traditions of these countries. The historical significance and cultural ties make jute products popular in APAC. Jute is a versatile material used in various applications such as textiles, packaging, geotextiles, and handicrafts. Its versatility makes it appealing to different industries, which further drives demand.
 

Jute Market Share

Major companies operating in the jute industry includes:

• Premchand Jute Industries
• Gloster Limited
• Aarbur
• Bangalore Fort Farms
• Cheviot
• Ludlow Jute & Specialities
• Hitaishi-KK
• Howrah Mills Co. Ltd.
• AI Champdany Industries
• Budge Budge Company
• Shree Jee International India

The market players are undergoing various strategic initiatives, such as mergers and acquisitions, partnerships, collaborations.
 

The Howrah Mill Co. Ltd is a well-established company with a rich history and a strong presence in the textile industry. Founded in the heart of Howrah, West Bengal, this company has been a key player in the textile sector for several decades. With a commitment to quality and innovation, Howrah Mill Co. Ltd has continually adapted to changing market dynamics, making it a trusted name in the textile manufacturing business.
 

The company specializes in the production of a wide range of textile products, including fabrics, yarns, and other textile materials. Their state-of-the-art manufacturing facilities are equipped with the latest technology and machinery, allowing them to maintain high production standards while adhering to eco-friendly and sustainable practices.
 

Jute Industry News

In June 2013, Gloster limited has launched six dividend. This has increased the net worth of the company.
 

The Jute Market research report includes in-depth coverage of the industry with estimates & forecast in terms of transactional value (USD Billion) and transactional volume (Kilo Tonnes) from 2018 to 2032, for the following segments:

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 By Product Type

• Jute bags
• Jute handicrafts
• Jute textile
• Jute apparel
• Jute furnishings
• Other jute products

By Application

• Residential
• Commercial
• Industrial

By Distribution Channel

• B2B
• B2C
• Hypermarkets and Supermarkets
• Specialty stores
• Online
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Australia
  • Malaysia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Egypt