In the very recent ten years, Bangladesh and Vietnam are expected to become major players in the global cotton industry. These nations’ competitive labor and production costs are projected contributing to a rapid increase in cotton use and trade, according to a recent OECD-FAO analysis.
Both the use and trade of cotton are expected to rise globally overall, with Bangladesh and Vietnam serving an important part in this growth. A multitude of factors, especially cheap production costs, government assistance, and greater foreign investment, have influenced the success of their textile industry. In order to meet the rising domestic demand, these nations are boosting their imports of cotton. The investigation should also draw attention to the growing rivalry from artificial fibers, which have risen considerably in market share over the past few decades as a consequence of their cost and versatility.