If you have your overseas shopping bags manufacturing in China, it might be time to consider Vietnam as part of your China Plus One Strategy.
Many international shopping bags importers are looking to Vietnam as an additional location, or a new source for their low-cost shopping bags manufacturing, reconsidering China. The common indicators affecting all forms of manufacturing in China are also affecting the production of shopping bags:
- Chinese Renminbi (Yuan) revaluation
- Higher labor costs
- Chinese policies of not encouraging foreign low-cost manufacturers
- Shortages of workers
- Restrictive government policies
- Inflation
- The possibility of widespread civic disputes.
Vietnam still presents good opportunities for a long-term investment with 5 to 7 percent estimated overall growth in the years to come.
Overview of the bags Industry in Vietnam
Bags and accessories manufacturing in Vietnam is a $218M/year industry, according to Statista. Vietnamese bags and accessories have an annual growth of 6.5% and expect to reach almost $300M/year by 2024.
Regional Bag Specialities in Vietnam
The majority of the bags manufacturing performs in the HCM City (Saigon) Region.
The North includes the Ha Noi Region
The Central include Da Nang, Nghe An
The Southern includes the HCMC Region
Vietnam’s shopping bags industry exports to around the world, for example, the United States, Japan, Netherlands, EU, and many countries in Asia, including China.
Advantages of Manufacturing Shopping bags in Vietnam
- Cheaper cost of raw materials, land rent, labor cost compared with other Asian countries.
- Bags manufactured in Vietnam highlight a higher level of craftsmanship.
- Plant-based materials grown locally and available by demand
Low-Cost Bag Manufacturing is increasing in Vietnam and getting the attention of the International Bag Industry
The Bag Industry in Vietnam is also a viable alternative for investors operating manufacturing facilities in China. Several famous brands have already established production in Vietnam, including Nike, Prada, Adidas, and Simone.
Vietnam Reusable Shopping Manufacturer - Sapphire can be your trusted partner in Vietnam
If your company is searching for low-cost manufacturing and production of various PP Shopping bags, Non-woven shopping bags, Woven shopping bags, Rpet shopping bags, Wine bags, consider Sapphire.
Sapphire can offer you quality bags at a reasonable price than our competitors. We can make shopping bags in custom sizes, materials, and printing/ finishing.
Contact Mrs. Trang at export@sapphirevn.com to discuss sourcing and buying or complete your inquiry form here.
