Textile Manufacturing Market in Serbia 2016-2020

Outlook of the textile manufacturing market in Serbia

In Serbia, the market for textile manufacturing will grow at a modest rate and will be positively affected by the strategic location of the country. Serbia is located in the Balkan Peninsula and is bordered by Croatia and Bosnia-Herzegovina to the west, Hungary to the north, Bulgaria to the east, Montenegro to the southwest, and Albania and Macedonia to the south. This strategic location provides the country with a significant advantage from the point of view of trade as it is located at the crossroads of Europe and Asia. The country’s strategic location will be an important factor in influencing the inflow of FDI into the country's manufacturing sectors, including the textile manufacturing industry. Furthermore, its ideal location puts the country in close proximity to leading fashion capitals, such as Italy and France, which enables the manufacturers to keep abreast of changing market trends. According to Technavio’s market research analyst, the textile manufacturing market in Serbia will grow at a CAGR of more than 3% by 2020.

The recent increase in sourcing of textiles from Serbia will also spur this market’s growth potential over the next few years. Benefits like the availability of cheap labor, strategic location, and favorable trade agreements with neighboring countries have helped Serbia become a leading destination for high-quality textiles. Despite poor economic conditions in recent years, such as a drop in foreign investments, the textile manufacturing market in Serbia managed to post sustained growth due to factors like consistent demand, which provides ample growth opportunities to SMEs in the country.

Competitive landscape and key vendors

This market is fragmented and is dominated by small and medium-sized enterprises, which account for approximately 75% of the market. There are a total of about 400-500 registered companies in the market, many of which are vertically organized and are capable of handling processes such as cutting, spinning, weaving, finishing, dyeing, embroidering, and printing.  Though the manufacturers are distributed across all parts of the country, there is a high concentration of specialized manufacturers in the Ada municipality in Northern Serbia, Arilje municipality in Central Serbia, and the world renowned Novi Pazar municipality in Southwest Serbia.

Top manufacturers in the region are -

• Adanko
• Belmil
• Bim tex
• Bogutovo
• Dunav Grocka
• Garman
• Happening
• HK PK Yumco
• Ivković
• Kar - Mod International
• Kluz-Padobrani
• Marshall
• Modital
• Mo-Mark Textiles
• Nenateks
• Proleter
• Spectre Commerce - Trends
• Stefan
• Textil
• Zupljanka

Segmentation by process and analysis of the textile manufacturing market in Serbia

• Preparation and spinning of textile fibers
• Weaving of textiles
• Finishing of textiles
• Manufacture of other textiles

During 2015, the preparation and spinning of textile fibers, especially wool and cotton, accounted for more than 36% of the total market share. Several companies in the textile manufacturing market operate as vertically integrated units that possess the capability to carry out all of the aforementioned processes.

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 Serbia?
• What are the key market trends impacting the growth of the textile manufacturing market in Serbia?
• What are the challenges to market growth?
• Who are the key vendors in the textile manufacturing market in Serbia?
• What are the market opportunities and threats faced by the vendors in the textile manufacturing market in Serbia?
• Trending factors influencing the market shares of Serbia.
• What are the key outcomes of the five forces analysis of the textile manufacturing market in Serbia?

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

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