Food industry is a rapidly growing sector in Bangladesh, employing a significant portion of the labor force in the country.
Bangladesh has a rapidly growing consumer market and due to a large population base, the demand for food products is always on the rise.
The market and the product range have evolved significantly over the last decade and many companies have entered the food business in Bangladesh which was otherwise not into this level of diversification in the past.
According to some industry analysts, the food processing sector in Bangladesh is a 4.5 billion US Dollar industry.
By 2013, Bangladesh’s’ food processing industry was generating over 150 million dollars in revenue from food exports each fiscal year, with no signs of slowing down.
In the 2017-2018 fiscal year, this number sky-rocketed to 372 million dollars. Consequently, Bangladesh’s economy became one of the fastest-growing economies in the world.
With the economy improving, citizens of Bangladesh are earning more money and seeing prosperity even in the poorest neighborhoods.
The food processing industry had a positive impact on the level of poverty in South-East Asia. For example, the number of people living below the poverty line in Bangladesh dropped by 13%, if not more, in 2017.