Textile Manufacturing Market in Bulgaria 2016-2020

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?

Technavio also offers customization on reports based on specific client requirement.

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