What is Jute?
Jute is obtained from plants called corchorus olitorius and corchorus capsularis, which are mainly cultivated in Bangladesh, India and grown throughout the year. About 85% of jute production is located in the Ganges river delta which reaches throughout the Bangladesh and other Bengal regions of India. There are two types of jute produced namely white and brown jute, it consists of cellulose and lignin making it stronger and with superior quality. Jute is commonly used in making bags, and ropes, and other applications such as apparel production, industrial, agricultural, flooring, homeware products. It is referred to as golden fiber because of its cost-effectiveness and color, the jute fabric is also known as burlap, gunny cloth, and hessian cloth. According to the Jute Mill Corporation of Bangladesh, its jute is exported in countries including Middle East, USA, Africa.
The market study is broken down by Type (White Jute, Tossa Jute, Mesta Jute and Others) and major geographies with country level break-up.
Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cheviot Company Ltd (India), Gloster Limited (India), Janata Sadat Jute Mills (Bangladesh), Northern Jute Manufacturing Co. Ltd. (Bangladesh), Ludlow Jute & Specialities Ltd. (India), Rahman Jute Spinners (Pvt.) Limited (Bangladesh), Budge Budge Co. Ltd. (India), Eco Jute Private Limited. (India), Premchand Jute & Industries Private Limited (India), National Jute Manufactures Corporation Limited (India), Bangalore Fort Farms Ltd. (India) and The Naihati Jute Mills Co. Ltd. (India) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Jute market by Type, Application and Region.
On the basis of geography, the market of Jute has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2020. If we see Market by End User Industry, the sub-segment i.e. Apparel will boost the Jute market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Supermarket/Hypermarket will boost the Jute market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Non-woven Jute Felt will boost the Jute market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. Bags will boost the Jute market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On 28th June 2020, The Bangladeshi private sector has witnessed its biggest ever silent acquisition in the country during the Covid-19 pandemic. Akij Group Managing Director Sk Bashir Uddin has bought Janata Jute Mills – one of the largest, oldest, and most-profitable jute product makers in the country – for around Tk700 crore. The deal also includes Sadat Jute Mills, a second factory owned by Janata – that was established in 1985 in Cumilla – and a cold storage facility. Both parties completed the deal and transfer of shares earlier this month after a series of virtual meetings.
"Jute, the golden fibre, meets all the standards for 'safe' packaging in view of being a natural, renewable, biodegradable and eco-friendly product. The principal varieties of jute in India are tossa (Corchorus Olitorious) and white jute (Corchorus Capsularis). The Jute Advisory Board headed by Secretary (Textiles) advises the government generally on matters pertaining to jute falling within the purview of Jute and Jute Textiles Control Order-2000 including production estimates of jute and Mesta. The NJB is statutorily mandated to undertake measures to evolve an integrated approach to jute cultivation in the matters of formulation of schemes, extension work, implementation and evaluation of schemes aimed at increasing the yield of jute and improving the quality thereon; promote the production of better quality raw jute; enhance the productivity of raw jute; promote or undertake arrangements for better marketing and stabilisation of the prices of raw jute, along with other measures."
Market Trend
- Emerging Advancement in the Jute Processing and Production
- Increasing Production of Jute Bags
Market Drivers
- Growing Need for Biodegradable or Natural Fibers in Different Industries
- Demand for the Strong, Cost-Effective, and Versatile Fiber with Wide Range of Industrial Applications
Opportunities
- Surging Demand for the Jute Fiber in Apparel Market
- Increasing Government Spendings on Jute Production and its Exports will Boost the Jute Market
Restraints
- Adverse Impact of Jute Production in the Local Economics as there is a Lesser Export Activities Overseas
Challenges
- Issues with the Dishonest Cultivation Policies Might Lead to the Unsustainable Production Processes of Jute
Key Target Audience
Jute Producers, Jute Product Manufacturers, Jute International Traders, Jute Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.