Rising middle class and urban consumer demand behind the push: USDA Bangladesh's $8 billion food processing industry has annually grown by 8 percent on an average between 2005 and 2023, powered by rising middle-class and urban consumer demand for convenience, said the US Department of Agriculture (USDA). "The processed food and beverage industry has seen notable growth in recent years," said the agency in a July 1 report prepared as a guide for US exporters on Bangladesh's market. "The processed food market is highly competitive as the domestic food industry is expanding investments to export to the world. Popular process...
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Experts tell Bangladesh Business Summit Bangladesh offers huge opportunity for agribusiness and agro-processing thanks to the farmers' hard work, which has enabled the country to secure top positions in the global ranks for producing a number of items, namely fish, rice, potato and mango, industry operators and analysts said yesterday. The nation currently bags around 7 crore tonnes of agricultural products, a majority of which are rice and potato while fruits, vegetables and spices make up about 17 per cent. Local firms process a portion of the produce for export and the domestic market, which is expected to expand in coming years owing to...
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Country''s bakery and confectionery industry has become almost self-sufficient in meeting the local demand, thanks to entrepreneurs who have invested heavily to produce quality items and import substitutes. The industry has already made a mark in the international market, attracting more local investors, particularly the large conglomerates, to put their money in the business, industry insiders have said. They said less than 4.0 per cent of the products in this category were now coming through imports, especially high-end products consumed mainly by the middle-and upper-middle classes. However, they said the automated bakery and confection...
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Akij Bakers launches Funtastic Cake, strengthening its hold on a promising market. Established companies in bakery items are increasing their investment due to the industry's rising potential, while newer companies are also entering the scene. Almost all the companies are coming up with new flavours to survive in the competition. There are also variations in prices. The industry has already made a mark in the international market, attracting more local investors, particularly the large conglomerates, to put their money into the business, industry insiders have said. They said less than 4% of the products in this category were no...
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The local biscuit industry is growing fast riding on surging demand for diverse-packet snacks among the thriving middle-income group of consumers. The local manufacturers now produce items worth more than Tk 70 billion (equivalent to US$ 824 million). They meet 97-98 per cent of the domestic demand and export the remaining 2.0-3.0 per cent, according to estimates by the Bangladesh Auto Biscuit and Bread Manufacturers Association (BABBMA) and Bangladesh Bread, Biscuits O Confectionery Prostutkarok Samity (BBBCPS), an association of the traditional factories. Industry insiders have attributed the industry's growth to changes in the food habi...
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Biscuits and confectionary sales of Olympic Industries have crossed Tk 2,500 crore for the first time in its history, thanks to rising demand for packaged bakery and confectionery items. According to the largest biscuit and confectionary seller of Bangladesh, its total sales revenue rose 20.2 percent year-on-year to Tk 2,579 crore in fiscal year 2022-23. Of the amount, Tk 2,536 crore came from selling biscuits, confectionery, bakery and snack products. This includes exports worth Tk 26 crore. The remaining Tk 43 crore came from dry cell batteries. Although its revenue was higher than that in fiscal year 2021-2...
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Dairy, no doubt, is one of the most flourishing industries in the country over the past decades. From a very humble beginning with stray efforts here and there in an informal manner, the industry grew to a commendable height thanks to a number of dedicated entrepreneurs backed by large-scale investment and introduction of modern technology. A news story published in the FE a few days ago had highlighted the potential of the expanding dairy industry in Bangladesh, and mentioned the lack of processing as a major hurdle to further expansion. It also mentioned that the country's dairy industry has been struggling to thrive and meet local demand due mainly to poor monitoring o...
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