Furniture Industry in Bangladesh
The upholstered furniture and beds market is estimated to be worth around 400 billion dollar. Both markets grew substantially during the boom period of the late 1980's and suffered significant decline during the prolonged recession of the early 1990's.
Imports and exports have become increasingly significant, with imports having grown to around 17 percent of the UK market. Imports are sourced mainly from within the EC including Italy, Belgium, Luxembourg, Sweden and France. Exports are estimated to be worth 9 percent of UK production of upholstered furniture. Action furniture continues to grow as consumers seek more benefits and features from their products. There are a growing proportion of older consumers and these products are also becoming more acceptable to younger age groups.
Classic styling is still very popular, although modern designs are becoming more accepted. However, traditional finishes such as leather and show wood are gaining share although both are now offered in more modern designs and colors to appeal to the younger generation. Cane and rattan is beginning to move up market after experiencing some problems in terms of quality.
Major suppliers of these industries are basically EU based like Germany, Sweden, etc. In terms of distribution, multiples command the largest share at 54 percent having continued EU nations in recent years, while furniture independents and specialists are also key outlets.
In terms of Bangladesh some renowned brand company starts to dominate accounting for over increasing percent of the market, although non brand owners are growing their share due to a combination of labor intensive country. In terms of distribution, furniture independents/specialists dominate with 35 percent, followed by multiples, department/variety stores, mail order and others.
This comprehensive report represents a detailed assessment of the market, reviewing major trends, key factors influencing developments and future prospects for