Bangladesh’s prominent conglomerate, Pran-RFL Group, is set to venture into the production of essential goods, including flour, refined flour, and semolina, aiming for a launch by March next year. Reportedly, the group has completed a substantial portion of its new industrial park in Gazipur’s Moktarpur union, investing around Tk 1,500 crore in this strategic move. The initiative is expected to generate employment for approximately 2,000 individuals.
As reported, Pran-RFL Group, recognized for its diverse range of 6,500 products under 200 brands, sees significant potential in the local commodity market. Kamruzzaman Kamal, the Director of Marketing at Pran-RFL Group, emphasized that the expansion into essential goods serves dual purposes – meeting market demand and acting as a backward linkage for their existing business operations.
The construction of the factories is nearing completion, with ongoing work in multiple phases. The move places Pran-RFL Group among the major players in Bangladesh’s consumer goods sector, where TK Group, Meghna Group of Industries, City Group, Bashundhara Group, S Alam Group, and Abul Khair Group are the current market leaders.
According to a report by HSBC Global Research in 2022, Bangladesh is projected to become the ninth-largest consumer market globally by 2030, surpassing the United Kingdom and Germany. The country’s consumer market is expected to experience robust growth, with more than 7 percent annual expansion from 2021 to 2030.
Pran-RFL Group, founded in 1981, initially entered the market through the production of hand tube-wells. Over the years, it has diversified its offerings to include a wide array of products, ranging from beverages and snacks to electronics, with an annual turnover of approximately three billion US dollars.
This strategic expansion aligns with Bangladesh’s economic growth trajectory, positioning Pran-RFL Group to capitalize on the evolving consumer market dynamics.
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