The home furnishings industry in Vietnam is actively pursuing alternative export destinations in light of sluggish growth in conventional markets. Suppliers are expanding their clientele in locations such as the Middle East and Asia-Pacific region, where demand is surging particularly for upscale models.
The strategy has shown encouraging results as overseas revenue in the first half of 2012 rose across all product segments comprising the sector.
Economic partnerships between Vietnam and other developing nations in Asia and Eastern Europe are also seen to further drive up sales in the line.
This report focuses on the main types of home furnishings from Vietnam – home textiles, bedding, home accents and lighting.
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
- 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
Objective, methodology & scope
Main production centers
Products & prices
Production & export statistics
Supplier matrix: Comparison of supplier location, sales revenue & export capability
Profiles of 34 verified suppliers
Makers of home furnishings in Vietnamare shifting their focus on emerging markets amid fi nancial diffi cultiesaff ecting traditional destinations suchas the US and the EU.
Many companies are boosting their client base in affluent nations inthe Middle East, where demand for midrange and upscale models is high. Examples of these are sculptures and statues, which are popular in Bahrain and Israel.
Vietnam-made items, particularly ceramic- and porcelain ware, are also getting greater attention from the Asia-Pacific region, specifically Japan. Clientst here are beginning to replenish stocksas businesses continue to recover in theaftermath of a major earthquake and tsunami that struck the country last year.
Vietnam does not officially design at home furnishings as a distinct export sector. As such, statistics on revenue generated by the industry are obtained from its three component categories: bamboo, rattan, sedge and carpet products, ceramics, and bedding and home textiles. Figures from the General Statistics Office of Vietnam show that shipments of ceramic items jumped 16 percent to $369 million in 2011. In the first six months of 2012, foreign sales grew 21percent to $204 million.
The handicrafts industry, which includes the home furnishings segment, is projected to post a growth of up to 12 percent in 2012 amid strong demand from traditional and emerging destinations. The Ministry of Agriculture and Rural Development forecasts turnover to reach $1.5 billion by 2015.
The material was prepared in July, 2013.