Basketwork, wickerwork and other articles: of vegetable materials (not bamboo or rattan), made directly to shape from plaiting materials or made up from goods of heading no. 4601: articles of loofah

In 2024, basketwork, wickerwork and other articles: of vegetable materials (not bamboo or rattan), made directly to shape from plaiting materials or made up from goods of heading no. 4601: articles of loofah trade exhibited slight decline, with global flows reaching $1,121,877,267 and a three-year compound annual growth rate of -7.5% (five-year: +3.2%). The all-time peak of $1,418,003,810 was recorded in 2021; the current level is 21% below that high-water mark.

Over the 30-year observation window (1995–2024), 66% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is decelerating (-10.7% acceleration).

The supply side is moderately concentrated (Herfindahl-Hirschman Index 0.227). The three largest exporters — China ($487.7M), Vietnam ($190.6M), and Spain ($47.6M) — collectively dominate supply flows. The leading exporter has grown at -15.1% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.092). The three largest import markets are United States ($279.6M), United Kingdom ($82.4M), and Germany ($81.6M). The largest importing market sources from 98 different supplying countries.

Estimated substitution elasticity: -6.58. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is China → United States at $102.9M, representing 36.8% of the importer's total demand.

The volatility score for basketwork, wickerwork and other articles: of vegetable materials (not bamboo or rattan), made directly to shape from plaiting materials or made up from goods of heading no. 4601: articles of loofah is 10 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, contracting demand signals caution before committing resources. A moderately concentrated market rewards differentiated positioning and strategic partner selection.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.