The global sportswear retail market is forecasted to increase from 21 billion dollars now to 36 billion dollars by 2024 , thanks to growing use of sportswear items worldwide.
The growth of sportswear on magazine
On March 15, Business Matters, a top UK-based business magazine said that the growth of sportswears is being driven worldwide.
The magazine said emerging economies such as China and India are contributing tremendously to the growth of the industry, as millions of new customers spend a large amount of money on sportswear.
Plus, some of the globe’s most crucial emerging markets are also playing a role in the sportswears growth. The quality and quantity of sportswear today is coming very far.
A new opportunity for Bangladesh
Of the total 30.62 billion dollars worth of clothes exported from Bangladesh in the last fiscal year, more than 10 percent was sports merchandises, according to industry makers.
A new chance has opened up for Bangladesh, the globe’s second largest garment exporter after China, as an expanded number of worldwide fashion retailers and brands are sourcing sportswear items along with other garment items, talked by local garment exporters.
Abdus Salam Murshedy, manager of Envoy Group, a top garment exporter said that the giant sportswear companies like Reebok, Nike and Adidas have to buy sports garment from Bangladesh as local apparel manufacturers which are capable of satisfying their demand.
Almost all the giant garment factories in Bangladesh have facility for making sportswear as the amount of foreign retailers and brands seeking such products from Bangladesh is growing, the exporter emphasized.
Facilities to produce sportswear products
Mohammed Hatem, Manager of Narayanganj-based garment firm MB Knit Fashions Limited, said sportswear production requests a special kind of fiber which can absorb sweat rapidly.
He said that they have a lot of work orders for sportswear garment items recently, but they do not have the fabrics. That’s why they must import the fabrics from China.
Among his total 15 million USD-worth exports annually, at least 3 percent derives from sportswear sales, adding that they have markets and machines already and now they need technical knowledge and skillful workers.