Market Feasibility Study on Faucet Products in Bangladesh

Executive summary of market feasibility study in Bangladesh

Bangladesh is one of the growing economic countries & there are about 180 million people living here in about 75 million families & HH. Over the last 10-15 years, with the financial capacity development & improving purchasing capacity of luxury products. The consumer’s selection of bathroom fittings & kitchenware products has been shifted to modern & new technological products. Currently, people are building their living houses as complete apartment systems in urban. Even in rural areas where modern facilities are kept available.

People in rural areas are using high comet toilets, overhead showers, basins & all facilities like urban life where urban people are used to these products. In this sense, the Bangladesh market is high potential for all types of faucet products. To explore the current market condition of faucet products, we have conducted a market study applying integrated research methods.

To get details information on faucet products from the existing market, about the major key players, their business policy & procedure, business opportunities for newcomers, challenges in this business, existing market share of the key players, customers’ buying behavior, their brand loyalty, brand preference & key factors on the selection of faucet products purchasing, etc. had been explored from the research.

Faucet Products & Its Industry in Bangladesh
  1. Current Scenario & Market Size: Faucet products are very much important & potential products for the current & upcoming market. Rapid urbanization, rural development, way to industrialization & up gradation of people’s lifestyles are creating the market demand & potentiality for faucet products. Especially kitchen & bathroom fittings across the Bangladesh market. According to our market feasibility research, currently, Bangladesh has a multi-variant market & business scope of faucet products including the front-line structure & backward unstructured market including locally manufactured & imported products. The total faucet market volume is about 2000 crore BDT or about US$ 235.30 Million covering domestic & corporate usage.
  2. The faucet market especially the kitchen & bathroom fittings are segregated by major two types like well known branded products & unknown branded products.
  3. The branded products are both locally manufactured renowned brands & global brands imported from China, Japan, Korea, Germany, USA, Canada, Thailand, Singapore, Taiwan & many more countries
  4. The unknown brands are locally manufactured from unstructured industries & imported from China by the name of importers
Faucet Products Market Size & Share
Data Source: PRITI Market Research 2020

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