Bangladesh’s toy industry eyes global market

Muhammad Ayub Ali :

Despite strong export potential, Bangladesh’s toy industry is held back by poor quality control, high transport costs, low investment in innovation, and inadequate mold and design facilities, industry people said.

Industry insiders say these obstacles are preventing local manufacturers from competing effectively in the global market, even though export opportunities are steadily increasing.

Currently, Bangladesh’s toy exports, valued at $75 million in FY 2022–23, are projected to grow more than eightfold to around $470 million by 2030, Bangladesh Plastic Products Manufacturers and Exporters Association (BPGMEA) President Shamim Ahmed said at a DCCI discussion on ‘Innovation and Export Potential in the Toy Manufacturing Industry.

Ahmed further noted that the broader plastics sector contributed over $270 million in export earnings in FY 2023–24, with untapped potential estimated at nearly $1.2 billion.

Currently, the domestic plastic market is valued at Tk 40,000 crore, generating Tk 3,500 crore in government revenue annually.

Around 5,000 plastic manufacturers operate across Bangladesh, most of them small and medium-sized enterprises, of which approximately 250 are engaged in toy manufacturing.

Highlighting the local dominance of this sector, Shahjahan Majumder, former president of the Bangladesh Toy Merchants, Manufacturers and Importers Association (BTMMIA), said that 90percent of toys sold in Bangladesh are locally produced, while only 10percent are imported from China.

Globally, however, China still holds a commanding 80percent share of the $102.8 billion toy market, projected to reach $150 billion by 2030. Rising production costs in China are pushing manufacturers away from low-quality toy production, opening a window of opportunity for Bangladesh.

Industry stakeholders estimate that around Tk 4,500 crore has been invested in the local toy sector, a figure that could double by 2030.

Exporters cite difficulties such as the absence of international buyers, lack of product testing facilities, high tariffs on raw material imports, poor infrastructure, and inadequate policy support.

Entrepreneurs at the discussion highlighted these issues with personal experiences.

For instance, Belal Ahmed, Managing Director of Golden Son Limited, explained that despite applying for a bond license back in 2005, he was denied due to the absence of a clear toy sector policy, forcing him to continue as a “hidden exporter.”

Similarly, Anisur Rahman of Premiaflex Plastic Limited emphasized the urgent need for investment in molds and designs to achieve international standards.

Experts and policymakers also weighed in. Ashok Kumar Roy, Director of the Department of Patents, Industrial Designs and Trademarks, said stronger intellectual property protection could safeguard local firms and support their entry into global markets.

Meanwhile, NBR Member Muhammad Mubinul Kabir stressed that while the government is ready to provide policy support, manufacturers must themselves improve quality, technology, and workforce skills.

Trade and Tariff Commission Joint Chief Mamun-ur-Rashid Askari added that Bangladesh is engaged in trade talks with Japan, Korea, Singapore, and Middle Eastern nations, and reducing export duties will be crucial for accessing these markets.

With strategic investments in design, innovation, and policy reforms, industry leaders believe Bangladesh’s toy sector could establish itself as a competitive global player within the next decade.