Sourcing Report: Vietnam - Wooden & Wicker Furniture
Revitalized demand from traditional markets and growing popularity in new overseas destinations are pushing the wooden and wicker furniture industry to become one of Vietnam’s most important export sectors.
Revenue in recent years has shown remarkable development that the country has become the largest furniture producer in Southeast Asia and one of the five biggest worldwide.
The gradual recovery of the US economy is the principal factor affecting the industry’s expansion. In addition, the Asia-Pacific region is increasingly replacing the EU as the sector’s secondary market.
This report focuses on the main types of wooden and wicker furniture from the Vietnam – living room, bedroom, dining & kitchen and garden & outdoor pieces.
This Vietnam Sourcing Report is part of the Developing Country Sourcing Report series designed to provide buyers with information on new products from export manufacturers in Southeast Asia that specialize in handmade merchandise.
What you'll get
- In-depth profiles of 15 major suppliers with a comprehensive look at their product and pricing strategy, manufacturing and export capability, verified contact details, and more – this information is not available anywhere else
- 138 full-color images that depict popular export models wooden and wicker furniture complete with product descriptions, prices, minimum order requirements and delivery times
- Verified supplier contact details of an additional 19 exporters, including names, e-mails, telephone numbers, websites and key products
- Supplier information in tabular format to help you compare suppliers at a glance
- Results of the custom-designed supplier survey, which forecasts industry trends for the next 12 months
- An extensive overview of the industry discussing the main challenges facing suppliers
- An in-depth examination of the supplier base highlighting key characteristics of the different types of companies
- Details of the primary production centers
- An update of the latest trends in design, R&D, materials and components
- A review of the key factors that influence the price and quality of low-end, midrange and high-end products
- Comprehensive pricing tables featuring export price ranges
Key findings
Objective, methodology & scope
INDUSTRY OVERVIEW
Exports
Products & prices
Production & export statistics
Price guides
Supplier survey
Export prices
Export sales
Export markets
Major challenges
R&D focus
SUPPLIER PROFILES
Supplier matrix: Comparison of supplier location, sales revenue & export capability
Profiles of 34 verified suppliers
PRODUCT GALLERY
Living room furniture
Bedroom furniture
Dining & kitchen furniture
Garden & outdoor furniture
CONTACT DETAILS
The wooden and wicker furniture industry is progressively becoming oneof Vietnam’s largest export earners, as evidenced by increasing demand from key destinations abroad.
Foreign revenue from wooden products, and rattan, bamboo, rush andcarpet items, the two segments under which the government categorizes furniture, has increased by an average of 25 percent annually since 2009. Sales jumped from $3.6 billion in2010 to $4.2 billion last year. As of July 2012, combined income from the two classifications is the sixth-highest amonglocal industries.
The sector’s marked improvement is a result of the recovery of major markets, specifically the US. Orders from this country climbed 3 percent in 2011. Shipments to the Asia-Pacific region,particularly Australia, China and Japan,have likewise increased over the past 12months.
Japan is the most important destination in the Asia-Pacific, absorbing shipments worth $282,000. Export growth is forecast to continue over the next 12 months as more clients recover from the global economic crisis. Indicative of this is the finding from the General Statistics Office of Vietnam that foreign sales from January to Julyt his year have totaled $2.6 billion.
Competitive advantages
The industry has several strengthscontributing to its development.
The sector’s primary advantage is low labor cost, which is a significant factor attracting foreign investors to Vietnam. Enterprises set up manufacturing facilities in the provinces of Bac Ninh,Dong Anh, Di An, Binh Duong, VinhCuu and Dong Nai, which are classified under Regions II and III in termsof basicsalary rates.
The sector, furthermore, has strong OEM capability. Most manufacturers areable to customize pieces as per buyers’ specifications. A number of companies use the latest graphics software and CNC machines to accurately create samples.
Another advantage of the industryis its ability to comply with internationalpolicies and standards, particularly the Forest Stewardship Council.
