Demand because Furniture Vietnam has known exponential development in the history decade. Fresh designs, larger craftsmanship and structural integrity withstand enabled suppliers to carve a peculiar segment as self in.markets worldwide.
Of the general $200 million sales revenue inch2000, Vietnam s exports of wooden product withstand increased by extra 0.5 ,000 p.cto an spectacular $two.36 billion inch2007. That positions the country accompanied by the tip three sourcing centers since furniture in.Asia.
Vietnams Ministry of Sell anticipates continuous progress, in addition to exports up ofwood merchandise looked forward to to reach $five.five billion by 2010.
To expand their export markets further, furniture suppliers are focusing R&D on current market trends, accepting mixed orders, investing in automated equipment, and sending their employees for training overseas. Some are also exploring new markets to export to.
Despite seeing strong overseas demand, however, furniture makers in Vietnam are preparing themselves for a challenging time ahead.
Suppliers have been forced to adjust furniture quotes as production costs continue to rise. This makes them more vulnerable to competition from China, Malaysia and Indonesia.
In response, most suppliers are putting measures in place to increase their export revenue. Some companies, for instance, are improving their aftersales service, while others are releasing more high-value furniture that can bring better margins.
The following are some of the key trends we see in Vietnam s indoor and outdoor furniture industry:
* Exports in the line are expected to see robust growth in the next 12 months, with a slight change in main export markets. While the US is currently the biggest importer of Vietnam-made furniture, many suppliers will target the EU in the coming months.
* Most, if not all, suppliers will increase export prices by end 2008 to early 2009. The rising production costs has prompted suppliers to implement price adjustments. In fact, all companies interviewed for this report plan to do so. However, suppliers will limit increases to 15 percent.
* In the next 12 months, many suppliers will focus R&D efforts on models with contemporary styles and colors, and feature multifunction designs.
* Many makers will continue to address the growing consumer awareness of sustainable forest use by purchasing wood from FSC-certified suppliers in Vietnam and overseas.
This report covers all types of indoor and outdoor furniture produced in Vietnam, including chairs, benches, tables, cabinets, beds and consoles. Suppliers typically offer furniture for both indoor and outdoor use. There are many, however, that just focus on indoor furniture.
The Products & Prices section in this report details the features and price ranges of furniture made in Vietnam. This includes the latest trends in style and materials.
The Industry Overview discusses key issues affecting exporters and elaborates on the composition of the industry.
The majority of furniture makers in Vietnam are locally owned, although there are a growing number of foreigninvested companies. This report reflects the nature of the industry, with 76 percent of featured suppliers locally owned. Many of the investors are from mainland China, Taiwan, Singapore, Malaysia, Norway and Sweden.
Production of indoor and outdoor furniture is concentrated in Ho Chi Minh, and the provinces of Binh Duong and Dong Nai, where the majority of companies interviewed for this report are based.
Author Resource:-
Furniture Vietnam
Ayo Furniture (better known as Ayo), based in Texas, is the international distributor of Phuoc Hung Manufacturing in Vietnam. We specialize in patio furniture made from a variety of hardwoods such as Teak, Eucalyptus, and Acacia. Our high-quality furniture makes a beautiful focal point on any porch or patio.
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