A new study suggests that Bangladesh’s non-cotton garment exports could reach up to $46 billion annually by 2032 if entrepreneurs invest $18 billion to expand manufacturing capacity. This move is prompted by the rising consumption of apparel made from artificial fabrics. The study, conducted by Wazir Advisors Pvt. Ltd for the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), outlines that investments are needed in fiber, filament, yarn, fabric production, and garment making. These investments could create 1.76 million new jobs. Globally, there’s a shift towards non-cotton fibers, with Bangladesh aiming to capitalize on this trend. China’s declining market share in non-cotton garments presents an opportunity for Bangladesh to expand its presence.
The use of non-cotton fibers in Bangladesh’s garment production has increased, indicating a growing demand. The study highlights outerwear as a significant category in non-cotton exports. BGMEA President Mr. Faruque Hassan emphasizes Bangladesh’s potential in non-cotton fibers, urging local entrepreneurs to invest and tap into global markets. Globally, non-cotton fibers dominate garment manufacturing, with polyester being the most prominent.
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