Asia-Pacific is having the largest regional share in the global home textile market. Availability of potential consumers in the market, increasing investments by key regional players, improving lifestyles and higher demand from consumers are driving the home textile market with robust growth. With global challenges, the Bangladesh home textile industry is performing with positive growth in recent years with its close association with the Bangladesh Terry Towel & Linen Manufacturers & Exporters Association (BTTLMEA) since 1990.
The idea of setting up of 100% export-oriented terry towel and allied products manufacturing and exporting business came into reality in 1984. BTTLMEA is focusing on promoting mutual co-operation among its members to increase national exports. Providing technical support and information to prospective buyers, trade bodies and Government organizations is also the objective of BTTLMEA with its 110 members.
In fiscal 2017-18, export of Bangladesh’s home textiles, including terry towels, bed-sheets, linen, curtains and pillow covers, was higher by $77.59 M with a growth of 9.2%. Earlier, in 2016-17, the total home textile industry growth was 5.32%. This industry has seen a collective increase of over $120 million in export revenue in the last two financial years.
Yarn is the main ingredient in the production of home textiles, accounting for 70 per cent of the cost, while the remaining 30 per cent was accounted for by chemicals, labor and other costs. As Bangladesh is the world’s second largest apparel exporter, there is scope for raising the share of the European, North American and the US home textile market. The exchange rate as between the Euro and the US dollar is also an important issue here. Diversification of products will be key for the industry in the coming years.
“To enhance the positive image for home textiles, we initiated the concept of HMB (Home textiles Made in Bangladesh), and its logo in 2012. We have extended this concept in BBC, CNN and Al-Jazeera with the co-operation of BGMEA. Through this branding, we are conveying the message that in Bangladesh, we are delivering quality products as per the buyer requirement. We are taking care of over 100,000 strong workforce,” said Mr. M. Shahadat Hossain Sohel, Chairman of BTTLMEA.
He added: “Bangladesh is fully prepared to take the challenge of modern fashion and demand. We are fully equipped with the latest skills, machineries and trained personnel.”
The global home textile market is estimated to reach around $130 billion by 2021. Bed linen accounts for the largest share of 45% in this segment, while bath linen constitutes 20%. The other segments such as floor coverings, furnishings and table and kitchen linen make up 35% of the home textile market.
Mr. Shahadat Hossain Sohel added: “We have duty-free competitive advantages in the market of Australia, Canada, Malaysia, Europe, etc. So, if the political stability continues here in Bangladesh, this industry has its immense growth potential. Additionally, in the last 5 months, the market price of yarn is stable. So, we are expecting a steady growth. We are working with the Government on some important issues for the sector like subsidy, port efficiency, gas price stability, etc. If as expected, the growth continues, our market share will go up substantially”.
By Md. Ariful Haque