Cotton waste has become a lucrative export for Bangladesh, experiencing an impressive 76.77 percent year-on-year growth in the first two months of the current fiscal year 2023-2024, generating $84.85 million in revenue. This marks a substantial increase from the previous fiscal year when Bangladesh exported cotton waste worth $411.12 million.
Global demand for cotton waste is surging as consumers increasingly embrace sustainable garment practices through recycling. Local garment suppliers in Bangladesh are adapting by integrating cotton waste into their production processes. Bangladesh generates approximately 400,000 tonnes of cotton waste annually, potentially enabling the production of exportable garments worth up to $6 billion if properly recycled.
Major retailers such as H&M are advocating for cotton waste utilization in manufacturing, and a proposed EU law will mandate its use in garment production by 2030, promoting circular fashion. Despite challenges like raw material shortages and high prices, the BGMEA remains optimistic about industry-wide cotton waste adoption, aiming to capture a larger share of the global market. Moreover, the gradual increase in yarn production from recycled materials has the potential to reduce cotton imports by 15%, saving $500 million. Bangladesh heavily relies on textile fiber imports, with approximately 1.63 million tonnes of cotton imported in 2019, valued at $3.5 billion.
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