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Jute Market Size

Report ID: GMI7141
Published Date: Oct 2023
Report Format: PDF

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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.

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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.

Jute Market Report Attributes
Report Attribute	Details
Base Year:	2022
Jute Market Size in 2022:	USD 2.5 billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5.9%
2032 Value Projection:	USD 4.9 billion
Historical Data for:	2018 to 2022
No. of Pages:	180
Tables, Charts & Figures:	284
Segments covered:	Product Type, Application Distribution Channel
Growth Drivers:	Environmental concern for synthetic material Government regulation
Pitfalls & Challenges:	Competition from synthetic material Fluctuating prices

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Authors: Kiran Pulidindi, Manish Mohanan

Frequently Asked Questions (FAQ) :

Jute industry was worth USD 2.5 billion in revenue in 2022 and is projected to expand at over 5.9% CAGR from 2023 to s2032 attributed to the growing global awareness of the environmental impact of synthetic materials and the escalated need for sustainable and biodegradable materials.

Jute bags market size reached USD 0.85 billion in 2022 and is estimated to expand at notable pace through 2032 attributed to the surging awareness of the environmental impact of single-use plastics and synthetic materials.

Asia Pacific jute industry generated USD 1.28 billion in revenue in 2022 and is poised to witness high demand through 2032 owing to the historical significance and cultural ties of jute products in the APAC countries.

Some of the prominent jute firms are 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, and Shree Jee International India.