Bangladesh has been witnessing tremendous industrial growth across its industrial sector, textile and apparel have especially dragged the focus of government bodies and private investors. Vast availability of lowest manpower, one of the most competitive energy costs and a proven track record in apparel production and exports have positioned Bangladesh as a regional apparel industry development hub in the Asian continent. In context of fast increase in labor wages and raw material prices in other major regional counterparts, such as China, India, Thailand etc, Bangladesh is well poised to remain most preferred destination for international apparel majors for sourcing world class fabric and finished clothes.
According to our report, “Bangladesh Apparel Industry Analysis”, Bangladesh apparel industry has grown manifold in the last decade. The country’s recognition as low cost-high quality apparel production base resulted in apparel production boom. Both small- and large-sized firms are booking huge orders from the US and EU buyers and expanding their production capacities. The study revealed that factors including new plant setups, capacity expansion in existing ones, technological up-gradation coupled with government favorable policies will enable apparel production to grow at an unmatched CAGR of 14.3% during FY 2011-FY 2014.
On demand fronts, the growth has been slow but steady. Drastic improvement in income level encouraged the country’s middle-class population to opt for good quality apparels. The impact of improving buying power is quite visible on domestic market as consumers are now buying branded apparels and spending a considerable part of their disposable income on textile and clothing.
Our report, “Bangladesh Apparel Industry Analysis”, is an outcome of extensive research and conceptual analysis of Bangladesh’s burgeoning apparel industry and its sub segments. The report provides statistics/information on overall apparel demand, production by segments (knitwear, woven wear, and sweaters), and exports’ analysis. It also covers all the factors and drivers responsible towards industry’s current and future developments. Labor, cost economics, and raw material market trends facilitate crucial market’s intelligence on manufacturing matrix and its feasibility in Bangladesh.
Most importantly, the report also presents the industry forecast based on correlation of past drivers, challenges, and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the Bangladesh apparel industry, which will prove decisive for the clients.
