Sheets acquired the highest revenue share in Vietnam bed linen market- 6Wresearch. However, the footfall in malls and retail centres in Ho Chi Minh City (HCMC) declined by 80% during February and March 2020, compared to the same period last year as many mall operators closed their retail spaces due to Covid-19 which negatively impacted the sales of bed linen in Vietnam.
Despite the decline in market revenues during the year 2020, the bed linen market is anticipated to grow at a significant rate in the coming years on the back of government investments in about 250 affordable housing projects delivering approximately 104,000 apartments for the low-income group in urban areas. Additionally, the Ministry of Culture, Sports, and Tourism's two-phase tourism recovery plan between 2022 and 2024, would augment the number of tourists in the country, thus propelling the demand for bed linen from commercial sector.
According to 6Wresearch, Vietnam Bed Linen Market size is projected to grow at a CAGR of 12.5% during 2022-2028. The primary reason for growth in the bed linen demand can be attributed to the development of 250 residential projects along with rise in consumer spending. According to World Bank standards, by 2025, the country aims to become an upper-middle-income country. Therefore, with the surge in consumer spending, the demand for bed linen and other consumer goods would propel owing to rising living standards and increasing spending on home décor.
According to Pragya Ratley, Research Associate, 6Wresearch, “By distribution channel, offline distribution acquired the highest market revenue share in Vietnam bed line market owing to expanding retail networks and easy access to a variety of products. Furthermore, the retail sector is expected to grow by 7.8% in 2021 compared to 2020, boosting the offline segment. However, with an increase in internet penetration rate to 73.2% in 2022, the online segment is expected to gain traction in the future.”
Some of the major companies in Vietnam bed linen market include Everpia Joint Stock Company, Binh Thanh Import Export Production & Trade JSC (GILIMEX), among others.
“Vietnam bed linen market (2022-2028)” report provides an in-depth analysis with 29 figures and 06 tables, covered in 78 pages. The report estimates and forecast the overall Vietnam bed linen market by product types, distribution channel, end-user, and region. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.