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Report
Bangladesh Home Textile Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 160 Pages I Mordor Intelligence
The COVID-19 outbreak has had a significant impact on business sectors and the overall economy of Bangladesh. The lockdowns in Bangladesh have led to the disruption of many business activities including Home Textiles industry and affected the supply chain.
The Bangladesh home textile market is witnessing a strong growth due to rising consumer spending and increasing demand from consumers for renovating their homes as well as offices. Home textile is one of the first line export sectors in Bangladesh also known as decorative textiles. Due to quality and diversified range of products, the country's production of the home textile is witnessing a rapid increase. Bed and bath linens are the most popular segments in home textiles in the country and kitchen linen, curtains, upholstery, and carpets/rugs make up for the rest of the demand.
There is a rising trend towards more environmentally friendly products in the region and thus, manufacturers are focusing their production of home textile products in natural fabrics such as soya and bamboo along with silk, polyester, and many others. The Bangladeshi home textile manufacturers are very conscious of fashion creation and design, which helps them to gain a special place in international markets. One of the new and trending designs in home textiles in the country is unique motifs in this specialized sector. In order to expand the home textile industry further in the country, the government has also launched various support schemes for textile manufacturers to make them globally competitive. The schemes are targetted at technology upgradation, infrastructure development, increasing EPZ zones, export promotion etc. These continuous collaborations and government policy supports are expected to further fuel the market in the upcoming years.
Bangladesh Home Textile Market Trends
Exports of Home Textiles from Bangladesh
Bangladesh is one of the major exporters of home textile products in the world. The demand for home textiles is increasing, especially because consumers in the international markets are giving importance to changing home decor more frequently and are looking out for new and innovative products to innovate their homes and offices. The major export destinations for Bangladeshi home textiles include Europe, the US, Japan, Canada, and Australia.
Bangladesh is regularly exporting different types of home textile products such as terry towels, bedspreads, pillow covers, cotton table napkins, furnishing fabrics, cushion covers, bath linen, and other home furnishings. In fiscal 2017-18, the export of Bangladesh's home textiles grew by nearly 9.95 percent year-on-year. Some of the major importing companies of home textile products from Bangladesh include IKEA, Carrefour, Asda, Littlewood, Maurice Phillips, Wal-Mart, and Redcats.
Rising Demand for Bed and Bath Linen
Bed and bath linen are the most popular home textile categories in Bangladesh. Bedsheets, towels, pillows, pillow covers are in high demand in the country when compared to other categories in home textiles and the market is witnessing strong growth. In terms of trends, increased demand for all-over digital printing technology is gaining popularity in the region and due to the rising demand, many of the factories in Bangladesh are opening digital 'All Over Printing' section along with conventional sections.
Bangladesh is also one of the global competitors in towel production with increasing exports. The country also largely produces a different type of Terry towel which is available in a wide range including face towels, hand towels, assorted color bath towels, golf towels, and bathrobe towels, etc.
Bangladesh Home Textile Market Competitor Analysis
The Bangladesh home textile market is competitive with the presence of a few local players. The textile companies in the region are focusing on restructuring their businesses, developing effective work processes, and investing in niche products. International manufacturers are also preferring setting up manufacturing units for home textiles in Bangladesh owing to low labor costs in the country.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Defination
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness- Porters' Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargainning Power of Buyers
4.5.3 Bargainning Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competative Rivalry
4.6 Insights into Latest Technological Innovations and Recent Trends in the Industry
4.7 Insights on Government Regulations in the Industry
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Bed Linen
5.1.2 Bath Linen
5.1.3 Kitchen Linen
5.1.4 Upholstery Covering
5.1.5 Floor Covering
5.2 By Distribution
5.2.1 Supermarkets & Hypermarkets
5.2.2 Specialty Stores
5.2.3 Online
5.2.4 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Zaber and Zubair Fabrics
6.2.2 Saad Musa Group
6.2.3 Alltex Industries Limited
6.2.4 Mosharraf Group
6.2.5 ACS Textile
6.2.6 Apex Weaving
6.2.7 DBL Group
6.2.8 JK Group
6.2.9 Classical HomeTex
6.2.10 G.F Textiles Ltd*
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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