Cambodia is located in the southern part of the Central-South Asian Peninsula, bordering Vietnam in the east and southeast, Laos in the north, Thailand in the west and northwest, and the Gulf of Siam in the southwest. Cambodia has a land area of 181,000 square kilometers, most of which is covered by forests.

Cambodia has rich forest resources, its forest coverage is up to more than 60%, timber reserves of about 1.1 billion cubic meters, which is conducive to the development of the furniture industry in Cambodia.

In recent years, the global environment of the furniture industry has changed, especially the industrial transfer has become frequent, which brings development opportunities to Cambodia’s furniture industry.

According to the analysis of CRI, as the world’s largest furniture producer and furniture exporter, China’s output value is more than 1/4 of the world’s. With the rise of China’s comprehensive cost of labor, land, and energy, the cost-effectiveness of furniture manufacturing in China is not as good as it used to be, so many Chinese companies are looking for a transfer, and Southeast Asia has become the primary target for them, for example, leading Chinese furniture companies such as Gu Home Furnishings, Minhua Holding, Yongyi, Markor Home Furnishings, etc. as early as in the past few years. and other leading Chinese furniture companies started investing in factories in Vietnam as early as 2018-2019.

Customized furniture companies such as Zhi Bang Furniture and Sofia, on the other hand, have opened overseas retail stores in Southeast Asian countries such as Vietnam, Thailand, the Philippines, and Cambodia.

According to an analysis by CRI, the Cambodian furniture market is extremely small, probably even less than US$100 million per year. The main growth driver of the Cambodian furniture industry market relies on exports. Cambodia’s furniture export value in 2023 will be approximately USD 890 million, a year-on-year decrease of 6.18% from 2022. Despite the decline in the value of Cambodia’s furniture exports in 2023, the country’s furniture manufacturing industry has gained significant growth over the past five years.Over the five-year period 2019-2023, the value of furniture exports grew from US$419 million in 2019 to US$890 million in 2023, representing a CAGR of 20.7%.

CRI believes that there is some room for growth in the Cambodian furniture industry. The main advantages of the Cambodian furniture industry are sufficient sources of raw materials, relatively low labor costs, and so on.

However, the Cambodian furniture industry is also facing the pressure of rising costs. Cambodia’s minimum monthly salary in 2023 was raised to USD 200 from USD 194 in 2022, and the monthly basic salary was increased to USD 204 from January 2024 with the consent of labor unions and employers’ associations. According to CRI’s analysis, Cambodia’s minimum monthly salary is still a bit higher compared to its neighboring countries, for example, Vietnam’s minimum monthly salary is less than US$200 in 2024, while Laos’ minimum monthly salary is only US$77.

CRI predicts that Cambodia’s furniture export value is expected to continue to rise from 2024 to 2033. Cambodia’s furniture exports are expected to reach $1.484 billion in 2033, growing at a CAGR of 5.5% from 2024 to 2033.

Topics covered:

• Cambodia Furniture Industry Overview
• The economic and policy environment of Cambodia’s furniture industry
• Cambodia Furniture Industry Market Size, 2024-2033
• Analysis of the main Cambodia furniture production enterprises
• Key drivers and market opportunities for Cambodia’s furniture industry
• What are the key drivers, challenges and opportunities for Cambodia’s furniture industry during the forecast period 2024-2033?
• Which companies are the key players in the Cambodia furniture industry market and what are their competitive advantages?
• What is the expected revenue of Cambodia furniture industry market during the forecast period 2024-2033?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Cambodia furniture industry market is expected to dominate the market by What are the main negative factors facing the furniture industry in Cambodia?

Table of Contents

1 Overview of Cambodia

1.1 Geographical situation

1.2 Demographic structure of Cambodia

1.3 The economic situation in Cambodia

1.4 Minimum Wage in Cambodia 2013-2022

1.5 Impact of COVID-19 on the furniture industry in Cambodia

2 Overview of Cambodia’s furniture industry

2.1 History of Cambodia architecture development

2.2 FDI in Cambodia’s furniture sector

2.3 Policy environment of Cambodia’s furniture industry

3 Cambodia furniture industry supply and demand situation

3.1 Cambodia furniture industry supply situation

3.2 Cambodia furniture industry demand situation

4 Cambodia furniture industry import and export status

4.1.1 Cambodia’s furniture imports and import volume

4.1.2 Main import sources of Cambodia furniture

4.2 Cambodia’s furniture industry export status

4.2.1 Cambodia’s furniture export volume and export value

4.2.2 Cambodia’s main export destinations for furniture

5 Cost analysis of the furniture industry in Cambodia

5.1 Cost Analysis of Cambodian Furniture Industry

5.1.1 Labor costs

5.1.2 Cost of raw materials

5.1.3 Other costs

5.2 Price Analysis of Cambodian Furniture

6 Cambodia Furniture Industry Market Competition

6.1 Barriers to entry in Cambodia’s furniture industry

6.1.1 Brand barriers

6.1.2 Quality Barriers

6.1.3 Capital Barriers

6.2 Competitive structure of Cambodia’s furniture industry

6.2.1 Bargaining power of furniture suppliers

6.2.2 Consumer bargaining power

6.2.3 Competition in Cambodia’s furniture industry

6.2.4 Potential entrants in the furniture industry

6.2.5 Alternatives to furniture

7 Analysis of major furniture companies in Cambodia

8 Cambodia Furniture Industry Outlook 2023-2032

8.1 Analysis of development factors in Cambodia’s furniture industry

8.1.1 Drivers and Development Opportunities in Cambodia’s Furniture Industry

8.1.2 Threats and challenges to the Cambodia furniture industry

8.2 Cambodia Furniture Industry Supply Forecast

8.3 Cambodia Furniture Market Demand Forecast

8.4 Cambodia furniture industry import and export forecast

LIST OF CHARTS

Chart Total population of Cambodia 2008-2023

Chart GDP per capita in Cambodia 2013-2023

Chart Furniture Industry Related Policies Issued by the Cambodia Government 2018-2024

Chart Market size of furniture industry in Cambodia

Chart 2019-2023 Cambodia furniture industry imports

Chart 2019-2023 Cambodia furniture industry import amount

Chart 2019-2023 Cambodia furniture industry importers and import value

Chart 2019-2023 Export volume of Cambodia’s furniture industry

Chart 2019-2023 Export value of Cambodia’s furniture industry

Chart Exporting countries and export value of Cambodia’s furniture industry in 2019-2023

Chart 2024-2033 Cambodia furniture industry production forecast

Chart 2024-2033 Cambodia Furniture Market Size Forecast

Chart 2024-2033 Cambodia furniture industry import forecast

Chart 2024-2033 Export forecast for Cambodia’s furniture industry

The post Cambodia Furniture Industry Research Report 2024-2033 first appeared on CRI Report.

China is a world leading producer and exporter of garments. However, it is undeniable that the comprehensive cost of textile and garment industry continuously rises and its advantage weakens. Confronted with these difficulties, part of garment manufacturing enterprises transfer their production bases to countries with lower costs such as Vietnam, Cambodia and Philippines.

Cambodia, situated in the core area of south-east Asia, is one of the least developing countries in the world. It is experiencing a relatively rapid growth in recent years. From 2010, the economy remained an annual growth rate of over 6% in Cambodia. From 2013, the economic annual growth rate remained above 7%. The Cambodia government claimed to maintain an annual growth rate of above 7% by 2018 in the newly developed 2015-2025 Industry Development Plan.

Under the context of free economic system, Cambodia is one of the most open economies in Asia. Products manufactured by Cambodia can be exported with generalized system of preference (GSP) and most favored nations (MFN) treatment in many countries such as the U.S.A., Europe and Japan. Particularly, with regards to textile and garment products imported by Cambodia, the U.S.A. gives looser quotas and cuts raised import tariffs, the European Nations have no barriers and Canada provides preferential measures such as granting the exemption of import duties.

Garment manufacturing industry is one of the mainstay industries in Cambodia. By the end of 2015, garment manufacturing enterprises registered in Cambodia reached over 1,400. According to CRI, about 1,100 enterprises among them are in normal operation. Garment manufacturing enterprises in Cambodia mainly operate with foreign capital from areas such as China, Hong Kong, Taiwan and South Korea. They mainly concentrate in Phnom Penh and Sihanoukville with convenient traffic. Most raw materials of garments and foot-wears in Cambodia are mainly imported from Asian countries, especially from China, Japan and South Korea. At present, Cambodia garment factories can manufacture garments with technics of washing, tie-dyeing and embroidering, but still lack dyeing and finishing skills.

In 2015, the minimum wage of garment manufacturing industry is USD 140 per month, increased by USD 12 per month, but is still at a relatively low level in the world. Garment manufacturing industry provides over 700 thousand jobs for Cambodia, and creates plentiful indirect job offers as the primary pillar industry of Cambodia. In Cambodia, there are many newly established garment manufacturing enterprises as well as dozens of bankrupting ones each year mainly for weak competitiveness, strike issues and rising costs.

In 2015, the product export value of garment in Cambodia reaches USD 6 billion, accounting for approximately 70% in the total export value. The major export markets of Cambodia textile garments and foot-wears include Europe, the U.S.A. and Canada. Cambodia is ready to join TPP in the future. It is estimated that the Cambodia garment manufacturing industry will be confronted with more development plans in the next few years.

Through this report, the readers can acquire the following information:

-Definition and Classification of Garment

-Research Methods, Parameters and Assumptions

-Analysis on Competition in Cambodia Garment Industry

-Analysis on Leading Enterprises of Cambodia Garment Industry

-Development Opportunities and Driving Forces Faced by Cambodia Garment Industry

-Risks and Challenges in the Development of Cambodia Garment Industry

-Analysis on Prices of Raw Materials and Products of Cambodia Garment

Table of Contents

1 Relevant Concepts of Garment Manufacturing Industry

1.1 Definition and Classification of Garment

1.1.1 Definition of Garment

1.1.2 Classification of Garment

1.2 Parameters and Assumptions of the Report

1.2.1 Assumption Base

1.2.2 Data Sources

1.3 OEM of Garment

1.4 Global Garment Trade

1.5 About CRI

2 Analysis on Garment Manufacturing Industry in Cambodia, 2011-2015

2.1 Development Environment of Garment Industry in Cambodia

2.1.1 Economic Environment

2.1.2 Policy Environment

2.1.3 Social Environment

2.2 Analysis on Garment Supply in Cambodia, 2011-2015

2.2.1 Analysis of Major Enterprises

2.2.2 Analysis of Garment Production Volume

2.3 Analysis on Demand of Garment in Cambodia Market

2.3.1 Major Consumer Group of Garment

2.3.2 Market Scale of Domestic Garment in Cambodia

2.4 Analysis on Export of Garment in Cambodia

2.4.1 Export Value of Garment in Cambodia

2.4.2 Major Export Destinations of Cambodia Garment

3 Competition Status of Garment Manufacturing Industry in Cambodia, 2013-2015

3.1 Barriers to Entry in Garment Industry in Cambodia

3.1.1 Policy Barriers

3.1.2 Barriers of Sales Channels

3.1.3 Brand Barriers

3.1.4 Technical Barriers

3.2 Competition Structure of Garment Manufacturing Industry in Cambodia

3.2.1 Bargaining Ability of Raw Material Suppliers of Garment

3.2.2 Bargaining Ability of Garment Consumers

3.2.3 Internal Competition of Cambodia Garment Industry

3.2.4 Potential Entrants of Cambodia Garment Industry

3.2.5 Substitutes

4 Analysis on Top 5 Garment Manufacturers in Cambodia, 2013-2015

4.1 Tak Fook (Cambodia) Garment Ltd.

4.1.1 Enterprise Profile of Tak Fook (Cambodia) Garment Ltd.

4.1.2 Sales Revenue and Proportion of Tak Fook (Cambodia) Garment Ltd. in Cambodia Garment Manufacturing Industry

4.2 T Y Fashion (Cambodia) Plc.

4.3 M & V International Manufacturing Ltd.

4.4 Grand Twin International (Cambodia) Plc.

4.5 Shen Zhou (Cambodia) Co., Ltd.

5 Analysis on the Cost and Garment Price in Garment Manufacturing Industry in Cambodia, 2013-2015

5.1 Analysis on Garment Manufacturing Costs, 2013-2015

5.1.1 Cost of Raw Materials

5.1.2 Manpower Cost of Garment Manufacturing Industry in Cambodia

5.2 Analysis on Garment Prices in Cambodia, 2013-2015

6 Prediction on the Development of Garment Industry in Cambodia, 2016-2020

6.1 Factors Influencing the Development of Garment Manufacturing Industry in Cambodia

6.1.1 Major Driving Forces and Market Opportunities in Garment Manufacturing Industry in Cambodia

6.1.2 Risks and Challenges Faced by Garment Manufacturing Industry in Cambodia

6.2 Prediction on Supply in Cambodia Garment Industry

6.2.1 Prediction on Output Volume of Garment in Cambodia, 2016-2020

6.2.2 Forecast on Export of Garment in Cambodia, 2016-2020

6.3 Forecast on Demand in Cambodia Garment Market

Selected Charts

Chart Cambodia’s GDP and Its Growth Rate, 2011-2015

Chart Laws and Regulations of Garment Industry in Cambodia, 2013-2016

Chart Sales Revenue of Cambodia Garment Manufacturing Industry, 2011-2015

Chart Export Value of Garment Products in Cambodia, 2011-2015

Chart Top 5 Enterprises and Their Market Share in Garment Manufacturing Industry in Cambodia Market, 2013-2015

Chart Sales Revenue of Ltd. in Tak Fook (Cambodia) Garment, 2011-2015

Chart Proportion of Tak Fook (Cambodia) Garment Ltd. in Cambodia Garment Manufacturing Industry, 2013-2015

Chart Sales Revenue of T Y Fashion (Cambodia) Plc., 2011-2015

Chart Sales Revenue of M & V International Manufacturing Ltd., 2011-2015

Chart Sales Revenue of International (Cambodia) Plc., 2011-2015

Chart Sales Revenue of Shen Zhou (Cambodia) Co., Ltd., 2011-2015

Chart Prediction on Export Value of Garment in Cambodia, 2016-2020

The post Cambodia Garment Manufacturing Industry Overview, 2011-2020 first appeared on CRI Report.