Business Ideas and Investment Opportunities
Jute Processing Sector | Jute Mill | Production of Jute Products | Jute Fabric | Jute Bags Manufacturing Industry
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Profitable Business Ideas for Startups
GLOBAL JUTE INDUSTRY:
Jute is a natural fibre made from the jute plant’s bark. Because of its golden and silky sheen, it’s also known as golden fibre. Jute fibre is widely utilised in the manufacture of textiles and packaging materials. It also has a number of benefits, such as superior insulation, low thermal conductivity, and moderate moisture retention. It can be used as a gift bag as well as a packaging material for purchasing items. Jute bags are becoming more popular as a result of the aforementioned considerations. Jute product demand has increased in the international market over the last decade, owing to a shift in consumer attitudes toward eco-friendly items over synthetic alternatives. Government laws that encourage the use of environmentally friendly products have raised demand for biodegradable jute products.
GLOBAL JUTE BAG MARKET:
The worldwide jute bag market is predicted to grow at a 9.4% compound annual growth rate (CAGR). The market for jute sack bags was expected to be the largest. They are convenient and economical, thus demand for jute sack bags is projected to rise in the coming years. Premium jute bags are acquiring substantial appeal in the metropolitan environment, and are thus anticipated to represent the dominant segment, based on price. India has the greatest market share in the region, owing to favourable climatic conditions and soil richness. The market for jute bags has undergone a spike over the past few years, particularly in the European Union. This can be ascribed to the region’s increased environmental consciousness. The restriction on plastic packaging materials and bags has also made it easier for non-producing countries to import jute bags. Jute bags’ advantages, such as their biodegradability, durability, low cost, and high strength, have also contributed to the market’s expansion.
INDIAN JUTE INDUSTRY:
India is the largest jute producer in the world, followed by Bangladesh. West Bengal, Odisha, Assam, Meghalaya, Tripura, and Andhra Pradesh are the main producers of jute. India has a 150-year-old jute industry. The jute sector is very important in the Indian economy. The Indian jute industry is centuries old and thrives in the country’s eastern regions. In its National Common Minimum Programme, the Indian government has designated the jute industry as requiring special attention. It is a crucial component of the Indian textile industry. Jute also contributes to the national exchequer through exports and taxes. Despite increased competition from synthetic fibres, India’s jute market is growing. To encourage expansion in the jute sector, India’s government mandated that at least 90% of food grains and sugar be packed in jute. The government’s efforts to resuscitate the jute sector have aided in the steady expansion of jute textile. Jute fibre applications range from home dcor such as carpets to fashion items, geo-textiles, and floor mats. Jute is primarily employed as a packing material in the form of gunny bags, although jute fibre applications have a wide range of uses.
GLOBAL MARKET OUTLOOK:
The interest of jute products is increasing because people of Western countries including Europe are increasingly using the natural fibers in different industries and in day-to-day life. Besides, the effective branding of domestic jute products has been initiated in the international market. Due to these reasons, the export of jute and jute products is increasing steadily. This ‘golden fiber’ can recover its image as jute-diversification has been broadening the new prospect of jute. Currently, 281 types of jute products are being produced in the country. Nowadays jute is using in carpets to the sophisticated airplane or luxury car.
jute and jute products are currently exporting to Afghanistan, Algeria, Austria, Belgium, Benin, Brazil, Bulgaria, Canada, Chile, China, Congo, Costa Rica, Egypt, Italy, Indonesia, Ethiopia, Gambia, Germany, Guatemala, Haiti, Ireland, Iran, Jordan, Korea, Libya, Malaysia, Mexico, Morocco, Myanmar, Netherlands, Pakistan, Poland, Portugal, Romania, Russia, Saudi Arabia, Sudan, South Africa, Taiwan, Tajikistan, Thailand, Turkey, the United States, the United Kingdom, Uganda, Uzbekistan and Vietnam.
Recently some jute innovations have surprised the jute lovers, among them jute polythene, jute-tin, jute leaf tea are most popular. There is no doubt that if these innovations have properly cared, they will be able to earn a significant amount of profit.
TOP PLAYERS WORLDWIDE:
- Ai Champdany Industries Ltd.
- Bangalore Fort Farms Ltd.
- Budge Budge Company Ltd. (BBCL)
- Cheviot Co. Ltd.
- Gloster Ltd.
- Ludlow Jute & Specialities Ltd.
- Lovson Exports
- Jaikishan Dass Mall Jute Products (P) Limited
- Eco Jute Private Limited
- Boom Buying Private Limited
- Anand Jute Industries
Reports & Books
Suggested
Business Ideas for Entrepreneurs
- Activated Carbon Powder from Jute Sticks
- Common Facility Centre for Jute
- Jute Bags, Jute Sacks, Gunny Bags
- Jute Batching Oil (JBO)
- Jute Garments
- Jute Gunny Bags and Jute Fabric
- Jute Ropes Sutli
- Jute Shopping Bags
- Jute Tar Felt
- Jute Twine (Jute Rope) & Gunny Bag from Raw Jute
- Jute Yarn, Jute Sutli & Hessian Cloth Weaving Integrated Unit
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