Home ›› 04 Sep 2021 ›› Front
The country’s homegrown soft toy industry has been gradually gaining ground as the stuffed toys, commonly known as teddy bears, have found new popularity among toddlers and teenagers.
According to Bangladesh Panda Manufacturer Owners Association (BPMOA), the industry has witnessed an annual growth of 20 per cent to 30 per cent over the last couple of years. Currently, local manufacturers hold 80 per cent of the market share.
Talking to The Business Post, stakeholders said teddy bears’ popularity as gift items gave the sector a much-needed boost.
Apart from that, the availability of affordable soft dolls with aesthetic designs across various sizes, colours, and quality has been playing a vital role in the industry’s growth.
“My nephew loves teddy bears than any other toy. I have purchased a locally made teddy bear for him as it is very well made despite being much cheaper than imported dolls,” said Md Sajib Hasan, a computer operator at the Bangladesh Secretariat, after purchasing a teddy bear from Dhaka’s Shabagh area.
Teddy bears remain in demand throughout the year, but sales peak during special days, such as Valentines’ Day, Eid celebrations, and local fairs.
“Before 2010, the country was totally dependent on China and Thailand for soft toys. However, that scenario has changed over the years. We are leading the local market now,” BPMOA President Jahir Rayhan said.
According to stakeholders, the annual market size for soft toys in Bangladesh is estimated to be around Tk 2,000 crore.
“The demand for teddy bears has been rising day by day. We used to earn only Tk 50,000 from teddy bear sales just a few years ago. But now, that earning has reached Tk 1,50,000 to Tk 2,00,000 per month,” said Dipak Mandal Likhon, owner of Dream’s Collection, at Dhaka’s Chawkbazar.
There are around 150 soft toy manufacturers in the country, located mostly in Dhaka, Chattogram, Kushtia and other parts.
However, the sector is still highly dependent on importing raw materials like fibre, wool cloth and plastic accessories.
Although most raw materials now come from China, manufacturers hope they will be able to reduce their dependency on imports as Chinese businesses have been planning to set up factories to supply raw materials.
According to stakeholders, the sector has created employment for 20,000 people while more than 50,000 people were indirectly involved with the industry.
More than 200 soft toy products are being produced in the country, including teddy bears, soft dolls, mini panda, love panda, and stuffed toys of cats, tigers, deer, lions, panthers, and rabbits.
Manufacturers said that locally produced teddy bears have high demand as they cost at least 50 per cent less than imported ones from China or Thailand.
“Customers prefer locally produced products as it is much cheaper than imported ones. Apart from availability, new designs have also helped increase the demand for local products. We sell at least 2,00,000 local products a month, compared to only 1,00,000 imported products. This is because what China can provide a doll at Tk 300, we can produce it under Tk 100,” said Mohammad Ahsan, manager of Samrat Enterprise which has been in the business for the last 30 years.
Local teddy bears on display at super shops, gift shops
With rising popularity of locally-produced teddy bears, the stuffed toy has found its place on the shelves of super shops and gift shops in the country.
“The teddy bear market is huge in Bangladesh. Although local products cannot maintain quality like China and Thailand, low price has helped it become the market leader in recent times as people’s income took a hit during the pandemic,” said Raisa Farhin Khan, assistant manager for general merchandise at Shwapno Super Shop.
Similarly, Saiful Islam, a director of Sopnil Super Shop at Rowmari in Kurigram, said, “Recently, we have started this super shop business. We have enlisted teddy bears due to their huge demands as children’s toys and gift items.”
