Vietnam Office Stationery And Supply Market Report

Vietnam Office Stationery and Supply Market- By Type (Paper products, Desk supplies, Mailing supplies, Printers or scanners or photocopiers, Filing supplies, Binding supplies, Time tracking supplies, Supplies for hanging, Identification supplies, others); By Application (Office Buildings, Schools, Hospitals, Government Organizations, and Others); Trend Analysis, Competitive Market Share & Forecast, 2016-2027

  • Published Date: May 2021
  • Report ID: BWC20366
  • Available Format: PDF
  • Page: 131

Report Overview

Vietnam Office Stationery and Supply Market- Industry Trends & Forecast Report 2027

The Vietnam office stationery and supply market was worth USD 381.7 million in 2020 and is further projected to reach USD 512.4 million by 2027, at a CAGR of 6.2% during 2021-2027 (forecast period). Infrastructure development in Vietnam has resulted in increased prospects for many corporate enterprises to set up offices in the country. As a result, the Vietnam office stationery and supply market is witnessing significant growth. Additionally, given the present pandemic situation, office supply manufacturers are focusing on delivering specialized products that enable remote work, which is expected to become a game-changer.


Source: BlueWeave Consulting

Vietnam Office Stationery and Supply Market Overview

Office stationery and supplies are consumables and equipment commonly used by companies and other organizations such as hospitals, government agencies, the hotel industry, the BFSI, and others for drafting letters, recordkeeping or bookkeeping,  and storage of supplies or data. Office stationery and supplies include a wide range of products, such as desk supplies, filing supplies, time tracking supplies, paper products, and others. They are considered as essential tools for the operation and administration of an office or business.  Due to their widespread use by end-user applications, printers, scanners, and photocopiers are the most commonly used supplies in Vietnam office stationery and supply market.

Vietnam office stationery and supply - Growth Drivers

Growing commercialized office buildings

The increasing investment by foreign investors in Vietnam after 2015 has positively impacted Vietnam's commercial office buildings. Due to government backing for the adoption and use of international standards in Vietnam, Permanent Normal Trade Relations with the United States were established in the year 2006. Vietnam has lots of offices, hotels, and shopping complexes. The revised government laws are encouraging foreign investors to invest in the Vietnam real estate market, resulting in the creation of jobs and the provision of office space to various businesses. According to the 2017 Census, Vietnam has more than 10,000 major enterprises. The reasons cited above have been driving the growth of the Vietnam office stationery and supply market.

Increasing number of school and universities

Education is a critical component of a country's economic and social development. One of the strategies for the country's economic development is the upgrading of its education system which is considered as lagging behind that of other Southeast Asian countries by international observers. Government initiatives in the field of education are motivating students to enroll in higher education. Additionally, labor force development is being prioritized, with large-scale investments in practical, job-specific training. Also, the need for high-quality and extended research education is reaching new heights in Vietnam, as the government is easing regulations, inviting foreign investors and students to enroll. Due to the factors cited above, Vietnam has been witnessing growth in its education sector, which in turn is propelling the Vietnam office stationery and supply market growth.

An Increasing Number of Small & Medium Enterprises

Small and medium-sized enterprises (SMEs) are often regarded as the foundation of any healthy economy, as they drive growth, create job opportunities, and open up new markets. According to the World Bank, SMEs represent 90% of businesses and more than 50% of employment worldwide. Vietnam consists of many SMEs including small companies, budding start-ups, medium-scale operations, and companies operating with fewer than 250 employees. The Vietnamese start-up ecosystem has spurred many aspiring entrepreneurs to begin new businesses in the country, creating the potential for the country's growth. However, since SMEs have limited resources, they cannot afford high-cost solutions. The growing SME sector in Vietnam has created a lucrative market for Vietnam office stationery and supply.

Restraints

Technological advancements like smart classes and green schooling

The advancement of technology in the sphere of education has resulted in smart and interactive classes for learning. Smart classes use an interactive method of educating children by utilizing smart boards, visual interpretation of modules, and videos to help students learn more efficiently. The increasing penetration of smart classes in the educational sector has hindered the Vietnam office stationery and supply market. Additionally, shifting consumer preference towards the greener environment has further challenged the growth of the Vietnam office stationery and supply market as educational institutes are adopting green schooling methods for protecting the environment and consuming minimum paper products.

Impact of COVID-19 on the Vietnam office stationery and supply market

COVID-19 has negatively impacted the Vietnam office stationery and supply market. As soon as the WHO labelled COVID-19 a pandemic, the Vietnamese government enacted a nationwide lockdown, which hampered demand for office stationery and supply. Several offices declared a work-from-home policy, which led to a reduction in the use of office stationery and supplies. Because of the rapid spread of the virus, the heated Vietnam office stationery and supply market witnessed stagnation in its pace. Because the office building was closed for more than two months due to the pandemic, most of the paperwork got digitalized.  Apart from private offices, all government entities which had used a lot of office stationery had closed, thereby reducing the need for stationery products here as well.

Vietnam Office Stationery and Supply Market- By Type

Vietnam office stationery and supply market is segmented into paper products, desk supplies, stationery/ mailing supplies, computer/ printer supplies, filing supplies, binding supplies, time tracking supplies, supplies for hanging, and identification supplies. Among these, the printer, scanners, & photocopiers segment held the largest share in the Vietnam office stationery and supply market. Printers, scanners, and photocopiers have proven to be incredibly valuable office equipment. Many companies have been leveraging printers for getting a hard copy of the graphics present on a computer screen. Scanners, on the other hand, assist in scanning a document and converting the hard copy of a paper into a soft copy that can be transferred to computer systems. Due to a lack of alternatives in the Vietnam office stationery and supply sector, the use of printers, scanners, and photocopiers is unlikely to decline anytime soon.

Vietnam Office Stationery and Supply Market- By Application

Based on the application, the Vietnam office stationery and supply market can be bifurcated into office buildings, schools, hospitals, government organizations, and others. Among these, the office building segment accounted for the largest share in the Vietnam office stationery and supply market. Any office building, be it a start-up or a large organization, require an extensive toolkit for the smooth functioning of the projects undertaken at the office. If the offices lack all of the necessary equipment, such as paper, pens, folders, desk supplies, printers, scanners, identification supplies, and other items, the organized system is doomed to fail, yielding no productive results for any project. Therefore, stationery supplies serve important purposes for businesses in office buildings.

 


Source: BlueWeave Consulting

 Competitive Landscape

The Vietnam office stationery and supply industry is fragmented, with a number of players operating and no one holding a major market share. Companies competing in the Vietnam office stationery and supply market compete based on the variety of items they offer to consumers for diverse applications. Some of the key companies operating in Vietnam office stationery and supply market are 3M Vietnam Ltd., Canon Marketing Vietnam Company Ltd, Faber-Castell Group, Brother International, Kokuyo Co. Ltd., and other prominent players. Also, over the last four to five years, market players have invested in new plants, manufacturing facilities, and innovative technologies to reduce the cost of manufacturing stationery supplies.

Recent Developments

·         In August 2020, Canon Marketing Vietnam Co. Ltd. launched Canon Mk2600 and Mk1500 cable printers to generate sleeved labels for construction, remodeling, internet, and telecommunications cabling. With the durability of thermal printing technology, intuitive keyboard and very bright LCD backlight, the Canon Mk series cable printer combines mobility, durability with high performance. It is extremely suitable for indoor and outdoor work.

·         In May 2020, Canon Marketing Vietnam Co. Ltd. has launched the new image PROGRAF PRO Series large format printers, which are the first to use intelligent media-processing technology for higher performance and image quality new series aim at meeting the needs of photographers and professionals alike.

·         In November 2020, Faber-Castell Launched Recycled Paper, Paper Pencils with a strong commitment towards protecting the environment. With this launch, Faber-Castell, the world's premier stationery company, has created a one-of-a-kind product made of recycled paper--Paper Pencils.

 

Scope of Report

Attribute

                              Details

Years considered

Historical data- 2016-2020

Base Year- 2021

Forecast- 2021-2027

Facts covered

Revenue in USD million

Market coverage

Vietnam

Product/ Service segmentation

By Type, By Application

Key Players

3M Vietnam Ltd., Canon Marketing Vietnam Company Ltd, Faber-Castell Group,  Brother International, Kokuyo Co. Ltd., and other prominent players

 

By Type

Ø  Paper Products

Ø  Desk Supplies

Ø  Mailing Supplies

Ø  Printer, Scanners, Photocopiers

Ø  Filing Supplies

Ø  Binding Supplies

Ø  Time Tracking Supplies

Ø  Supplies for Hanging

Ø  Identification Supplies

Ø  others

By Application

Ø  Office Buildings

Ø  Schools

Ø  Hospitals

Ø  Government Organizations

Ø  Others


 

FAQs:

1.    What is the current size of the Vietnam office stationery and supply market?

Answer: Vietnam office stationery and supply market has reached USD 381.7 million in 2020.

2.    What are the major factors driving the growth of the Vietnam office stationery and supply market?

Answer:  The major factors driving the Vietnam office stationery and supply market are the increasing number of school and universities, growing commercialized office buildings, and the rising number of small & medium enterprises.

3.    Who are the key players in the Vietnam office stationery and supply market?

Answer:  The key players in the Vietnam office stationery and supply market are 3M Vietnam Ltd., Canon Marketing Vietnam Company Ltd, Faber-Castell Group, Brother International, Kokuyo Co. Ltd., and other prominent players.

4.    Which product type accounted for the largest share in the Vietnam office stationery and supply market?

Answer: Based on type, printers, scanners and photocopiers accounted for the largest share in the Vietnam office stationery and supply market.

5.    Which application would witness a higher CAGR (Compound annual growth rate) in the Vietnam office stationery and supply market, amid COVID-19, and in the coming years?

Answer: Schools are expected to grow at the highest CAGR in the Vietnam office stationery and supply market in the upcoming years.