Since 2017, Bangladesh has secured its position as the leading denim exporter to the EU and the primary denim supplier to both the United States and the European Union (EU).
An impressive one in three individuals in the region now dons denim pants manufactured in Bangladesh.
Media reports maintained this adding capitalising on the heightened demand, local entrepreneurs are striving to augment their capacity to dominate the thriving US $ 64 billion global denim market even if at present these local exporters contribute approximately US $ 5 billion worth of denim products worldwide.
Further, forecasts predict that the global denim market will expand to US $ 76.1 billion by 2026, growing at an annual rate of 4.8 per cent.
In a concerted effort, local business leaders have invested around Taka 25 thousand crore in the denim sector, fostering the establishment of 42 modern factories in the country.
These facilities collectively have the potential to produce over 90 million meters of denim fabric annually.
Meanwhile, the Bangladesh Textile Mills Association (BTMA) reported a substantial investment of Taka 1.5 billion in two factories in Habiganj, with the ambitious target of exporting US $ 700 million worth of denim over the next five years.
