Wooden Furniture Market to Grow Significantly by Leading Players 2023 to 2031
Pune, India - (NewMediaWire) - March 3, 2023 - "Wooden Furniture" Size, Scope, and Forecast 2023-2031 report has been added to the Market Research Archive of Absolute Reports. Industry experts and researchers have offered an authoritative and concise analysis of the Global Wooden Furniture with respect to various aspects such as growth factors, challenges, restraints, developments, trends, and opportunities for growth. This report will surely be a handy tool for market players to come up with effective strategies with the aim of strengthening their positions in the market.
What is the Wooden Furniture growth?
At present, the major markets for Vietnam's wood and wood products are the U.S., Japan, China, South Korea, and the EU. 2021 exports of Vietnam's wood and wood products to these five major markets account for about 90% of Vietnam's total wood and wood products exports. According to Researchers, Vietnam's main exports of wood and wood products are: wooden furniture, seats, particle board, plywood, and veneer.
Currently, Vietnam's wood products are more competitive due to lower labor costs, lower taxes, and certain preferential tax rates when exporting, etc.
Despite COVID-19, Vietnam remains the world's second largest furniture exporter (after China) and surpassed China as the largest furniture exporter to the U.S. In 2021, Vietnam exported $9.3 billion of wooden furniture to the U.S., up 22% year-over-year.
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Despite the weak performance of Vietnam's major export commodities in 2021, the volume of wood and wood products increased significantly year-on-year. During this period, the US, Japan, China, the EU and South Korea accounted for 90% of Vietnam's total forestry exports, while the EU-Vietnam Free Trade Agreement (EVFTA) comes into effect in August 2020, paving the way for Vietnam's wood exports and further penetration of products into the European market, according to Wonjer Consulting's analysis.
In 2021, Vietnam's exports of wood products and furniture will be approximately US$14.5 billion, up 17.2% from 2020. 2021, Vietnam will export wood products and furniture to a total of 40 countries and regions. The top 10 major destinations by export value are the United States (US$8.77 billion), China (US$1.5 billion), Japan (US$1.44 billion), South Korea (US$890 million), United Kingdom (US$270 million), etc.
IT expects Vietnam's furniture industry to continue to grow and export value to rise from 2022-2031 as COVID-19 is effectively controlled. For global investors, there are many investment opportunities in Vietnam's furniture industry.
Browse Detailed TOC, Tables and Figures with Charts which is spread across 60 Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.
1. Does this report consider the impact of COVID-19 and the Russia-Ukraine war on the Wooden Furniture?
Yes. As the COVID-19 and the Russia-Ukraine war are profoundly affecting the global supply chain relationship and raw material price system, we have definitely taken them into consideration throughout the research, in Chapters, we elaborate at full length on the impact of the pandemic and the war on the Wooden Furniture Industry
Final Report will add the analysis of the impact of Russia-Ukraine War and COVID-19 on this Wooden Furniture Industry.
This report provides a pinpoint analysis of changing dynamics and emerging trends in the Global Wooden Furniture. Additionally, it provides a futuristic perspective on various factors that are likely to fuel the growth of the Global Wooden Furniture in the coming years. Further, the authors of the report have shed light on the factors that may hinder the growth of the Global Wooden Furniture.
Wooden Furniture - Competitive and Segmentation Analysis:
2. How do you determine the list of the key players included in the report?
With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth.
Top Key Players of the Global Wooden Furniture
1 Isseiki Furniture Company Limited
2 Forexco Quang Nam
3 Thien Phat Commercial Production Construction Company Limited
4 KOBE Viet Service Trading Company Limited
5 Saigon Mechanics Industry Co., Ltd
6 Dinh Huong Furniture Company Limited
7 PortLand Furniture Corporation
8 MYRA Production Company Limited
9 Hieu Duc Forestry Processing Trading Company Limited
10 Timber Life Co., Ltd
Short Description About Wooden Furniture:
The Global Wooden Furniture is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2031. In 2023, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
This report studies the Wooden Furniture, covering market size for segment by type, by application, by sales channel (Direct Channel, Distribution Channel), and by region (North America, Europe, Asia-Pacific, South America and Middle East & Africa).
This report provides detailed historical analysis of global market for Wooden Furniture from 2015-2020, and provides extensive market forecasts from 2023-2031 by region/country and subsectors. It covers the sales/revenue/value, gross margin, historical growth and future perspectives in the Wooden Furniture.
Moreover, the impact of COVID-19 is also concerned. Since outbreak in December 2019, the COVID-19 virus has spread to all around the world and caused huge losses of lives and economy, and the global manufacturing, tourism and financial markets have been hit hard, while the online market/industry increase. Fortunately, with the development of vaccine and other effort by global governments and organizations, the negative impact of COVID-19 is expected to subside and the global economy is expected to recover.
This research covers COVID-19 impacts on the upstream, midstream and downstream industries. Moreover, this research provides an in-depth market evaluation by highlighting information on various aspects covering market dynamics like drivers, barriers, opportunities, threats, and industry news & trends. In the end, this report also provides in-depth analysis and professional advices on how to face the post COIVD-19 period.
The research methodology used to estimate and forecast this market begins by capturing the revenues of the key players and their shares in the market. Various secondary sources such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, have been used to identify and collect information useful for this extensive commercial study of the market. Calculations based on this led to the overall market size. After arriving at the overall market size, the total market has been split into several segments and sub-segments, which have then been verified through primary research by conducting extensive interviews with industry experts such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments.
3. What are your main data sources?
Both Primary and Secondary data sources are being used while compiling the report.
Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users.Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases.
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast (2023-2031) of the following regions are covered in Chapter 4 and Chapter 7:
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
- South America (Brazil, Argentina, Columbia etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Please find a more complete list of data sources in Chapters
1.To study and analyze the global Wooden Furniture consumption (value) by key regions/countries, product type and application
2.To understand the structure of Wooden Furniture by identifying its various sub segments.
3.Focuses on the key global Wooden Furniture manufacturers, to define, describe and analyze the value, market share, market competition landscape, Porter's five forces analysis, SWOT analysis and development plans in next few years.
4.To analyze the Wooden Furniture with respect to individual growth trends, future prospects, and their contribution to the total market.
5.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
6.To project the consumption of Wooden Furniture submarkets, with respect to key regions (along with their respective key countries).
7.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
8.To strategically profile the key players and comprehensively analyze their growth strategies.
Customization of the Report
4. Can I modify the scope of the report and customize it to suit my requirements?
Yes. Customized requirements of multi-dimensional, deep-level and high-quality can help our customers precisely grasp market opportunities, effortlessly confront market challenges, properly formulate market strategies and act promptly, thus to win them sufficient time and space for market competition.
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Detailed TOC of Wooden Furniture Market Insights and Forecast to 2031
1 Overview of Vietnam
1.1 Geographical Situation
1.2 Demographics of Vietnam
1.3 Economy of Vietnam
1.4 Minimum Wage in Vietnam 2011-2021
1.5 Impact of COVID-19 on Vietnam's Wooden Furniture Industry
2 Development Environment of Wooden Furniture Industry in Vietnam
2.1 Brief history of the development of wooden furniture in Vietnam
2.2 Types of wooden furniture in Vietnam
2.3 Policy Environment of Vietnam Wooden Furniture Industry
3 Supply and Demand Situation of Wooden Furniture Industry in Vietnam
3.1 Supply Situation of Wooden Furniture Industry in Vietnam
3.2 Demand Situation of Wooden Furniture Industry in Vietnam
4 Import and export of wooden furniture industry in Vietnam
4.1 Vietnam wooden furniture industry import status
4.1.1 Vietnam wooden furniture import volume and import value
4.1.2 Main import sources of wooden furniture in Vietnam
4.2 Export of wooden furniture in Vietnam
4.2.1 Vietnam's wooden furniture export volume and export value
4.2.2 Main Export Destinations of Wooden Furniture in Vietnam
5 Market Competition in Vietnam's Wooden Furniture Industry
5.1 Barriers to entry in Vietnam's wooden furniture industry
5.1.1 Branding Barrier
5.1.2 Quality Barrier
5.1.3 Capital Barrier
5.2 Competitive structure of the Vietnamese wooden furniture industry
5.2.1 Bargaining Power of Wooden Furniture Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Competition in the Wooden Furniture Industry in Vietnam
5.2.4 Potential Entrants in the Wooden Furniture Industry
5.2.5 Substitutes for Wooden Furniture
6 Analysis of Major Wooden Furniture Brand Companies in Vietnam
6.1 Isseiki Furniture Company Limited
6.1.1 Development History of Isseiki Furniture Company Limited
6.1.2 Main Products of Isseiki Furniture Company Limited
6.1.3 Operation Model of Isseiki Furniture Company Limited
6.2 Forexco Quang Nam
6.2.1 History of Forexco Quang Nam
6.2.2 Main Products of Forexco Quang Nam
6.2.3 Forexco Quang Nam's Operation Model
6.3 Thien Phat Commercial Production Construction Company Limited
6.3.1 History of Thien Phat Commercial Production Construction Company Limited
6.3.2 Main Products of Thien Phat Commercial Production Construction Company Limited
6.3.3 Operational Model of Thien Phat Commercial Production Construction Company Limited
6.4 KOBE Viet Service Trading Company Limited
6.4.1 History of KOBE Viet Service Trading Company Limited
6.4.2 Main Products of KOBE Viet Service Trading Company Limited
6.4.3 Operational Model of KOBE Viet Service Trading Company Limited
6.5 Saigon Mechanics Industry Co., Ltd
6.5.1 History of Saigon Mechanics Industry Co., Ltd
6.5.2 Main Products of Saigon Mechanics Industry Co., Ltd
6.5.3 Operation Model of Saigon Mechanics Industry Co.
6.6 Dinh Huong Furniture Company Limited
6.7 PortLand Furniture Corporation
6.8 MYRA Production Company Limited
6.9 Hieu Duc Forestry Processing Trading Company Limited
6.10 Timber Life Co., Ltd
7 Vietnam Wooden Furniture Industry Outlook 2022-2031
7.1 Vietnam Wooden Furniture Industry Development Factors Analysis
7.1.1 Vietnam Wooden Furniture Industry Drivers and Development Opportunities
7.1.2 Threats and Challenges for Vietnam Wooden Furniture Industry
7.2 Vietnam Wooden Furniture Industry Supply Forecast
7.3 Vietnam Wooden Furniture Market Demand Forecast
7.4 Vietnam Wooden Furniture Import and Export Forecast
List of selected charts
Chart Total Population of Vietnam 2006-2021
Chart Vietnam GDP per capita 2011-2021
Chart Wooden Furniture Industry Related Policies Issued by Vietnam Government 2008-2021
Chart Vietnam Wood Production 2016-2021
Chart Domestic Consumption of Wooden Furniture in Vietnam 2005-2021
Chart Vietnam Wooden Furniture Import Volume 2005-2021
Chart Import Value of Wooden Furniture in Vietnam 2010-2021
Chart Wooden furniture importing countries and import amount in Vietnam in 2018-2021
Chart Vietnam's wood and wood products exports in 2005-2021
Chart Export Value of Wood and Wood Products of Vietnam in 2010-2021
Chart Export Countries and Export Value of Wooden Furniture in Vietnam in 2018-2021
Chart Forecast of Wooden Furniture Production in Vietnam in 2022-2031
Chart Domestic Wooden Furniture Market Size Forecast in Vietnam 2022-2031
Chart Vietnam Wooden Furniture Import Forecast 2022-2031
Chart Vietnam Wooden Furniture Export Forecast 2022-2031
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