Outlook of the textile manufacturing market in Bulgaria
Extensive market research carried out by the analysts has shown that the market for textile manufacturing in Bulgaria will grow steadily at a CAGR of over 5% by 2020. According to Technavio’s market research analyst, the recent increase in Internet penetration will aid in the growth of this market in the next four years. In Bulgaria, commoditization and easy accessibility to Internet networks have led to the high demand for apparels. Due to commoditization, people from remote areas of the country will be able to access the Internet. Since the Internet plays a crucial role in fostering awareness and access to products from various parts of the world, it will augment the demand for textiles and apparels. According to the Europe E-commerce Association, in 2014, Eastern Europe registered a growth of around 47% in e-commerce compared to 2013. Similarly, Bulgaria also registered a strong growth of around 50% during the same period.
The implementation of favorable government policies in the market is a noteworthy factor that will incite growth in this market during the forecast period. Government policies for the textile manufacturing market in Bulgaria are favorable, and as a result, promote the growth of this market. Moreover, the taxation policies are also supportive of growth, as corporate and individual taxes are as low as 10%. Similarly, the customs levied on textile products are also low. Furthermore, since this region has the most affordable labor costs among the major countries in Central and Eastern Europe, manufacturers from across the globe will be encouraged to set up manufacturing facilities in Bulgaria.
Competitive landscape and key vendors
The textile manufacturing market in Bulgaria is characterized by the presence of more than 4,500 small and big players. However, with international manufacturers establishing their footprint in the market, regional manufacturers are finding it increasingly difficult to compete with them, especially in terms of quality, technology, and pricing. The competitive environment is likely to intensify further with an increase in product and service extensions, technological innovations, and M&A activities.
Key manufacturers in this market are -
- E Miroglio
- Safil
- Kalinel
- Antoan Vill
- MARKAM
- NonWoTex
- Stela92
- Sofitex
- YUKU 90
- Zita
- Signal
- Decotex
- Yuta
Growth drivers, challenges, and upcoming trends: Increased consumer spending
Technavio’s market research analysts have estimated that the presence of eminent trends, such as increased consumer spending, will also spur market growth until the end of 2020. In this region, the annual GDP growth rate averaged 3.7% during 2011-2014. The GDP is predicted to grow at a steady rate of 6.1% during 2015-2020. High exports, steady domestic demand, and a stable labor market have led to a growth in the GDP, which, in turn, has resulted in a rise in disposable income. This increase in the disposable income coupled with the subsequent increase in consumer spending on the latest fashion accessories will open up huge opportunities for the textile manufacturing market in the country.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the textile manufacturing market in Bulgaria. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the textile manufacturing market in Bulgaria?
- What are the key market trends impacting the growth of the textile manufacturing market in Bulgaria?
- What are the challenges to market growth?
- Who are the key vendors in the textile manufacturing market in Bulgaria?
- What are the market opportunities and threats faced by the vendors in the textile manufacturing market in Bulgaria?
- Trending factors influencing the market shares of Bulgaria.
- What are the key outcomes of the five forces analysis of the textile manufacturing market in Bulgaria?
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Related reports
This is preliminary content. The table of contents is subject to change.
PART 01: Executive summary
PART 02: Scope of the report
- Market overview
- Top-vendor offerings
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
PART 05: Market landscape
- Market size and forecast
- Five forces analysis
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
- Competitive landscape
- Other prominent vendors
PART 14: Key vendor analysis
PART 15: Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape