Top three potential export industries in 2022 released
Agriculture, beauty and personal care and home and gardening are three potential export industries in which Vietnamese small-and-medium enterprises (SMEs) can grab the opportunity to grow their business in 2022.
A cashew processing line at Nhat Huy JSC in the southern province of Binh Duong.
Alibaba.com – one of the leading B2B e-commerce platforms – has published its annual Digital B2B Outlook 2022 for the Viet Nam market. The outlook sums up the promising situation of Viet Nam’s import and export sector after turbulent years by promoting successful SMEs on the platform, as well as highlighting current global market trends.
Alibaba.com has summarised the top three best-selling agricultural products on the platform. Cooking oil is the best-selling product, witnessing around 300+ active buyers, and about 250,000+ more items needed. Countries such as India, Lebanon, Indonesia, the US, and China recorded the most consumers for this product.
Nuts and kernels follow the race with around 200+ active buyers, and more than 3,700+ items needed. According to the outlook, these are the favourite products in India, Russia, Italy, France, and Saudi Arabia.
Lastly, plant seeds and bulbs secured third position with approximately 200+ active buyers, and more than 6,000+ requested items. The five top buyers in this category are the Philippines, Pakistan, the US, Brazil, and India.
In the beauty and personal care segment, hair extensions and wigs show potential exports with around 3,500+ active buyers and more than 500,000+ items needed. According to an analysis conducted by the company, there are about 500 merchants waiting to be recruited in this industry, and about 500,000 products waiting to be supplemented.
Following is skin care and tools, recording 1,000+ active buyers purchasing 400,000+ items. There are about 1,500 businesses waiting to be recruited, and approximately 400,000 products waiting to be supplemented in this category.
Lastly, is makeup and tools that holds the third-largest sales figures. The average daily number of active buyers reaches around 1,300+ with more than 800,000+ items requested. Based on the analysis of the industry, there are approximately 2,500 merchants waiting to be recruited and 800,000 products waiting to be added to this industry.
Home and gardening continues to be a promising sector in 2022 for online exports, with the top three most wanted product lines on Alibaba.com. Firstly, is kitchens and tabletops. The average daily number of active buyers is around 4,000+ and about 4,000,000+ items are needed. The top five countries that recorded the highest consumption are the US, the UK, the Philippines, Brazil, and Russia.
Second place goes to pet products, with around 4,000+ active buyers and 1,000,000+ more items needed on the platform. The US, the UK, Russia, Australia, and the Philippines are five countries recording the highest sales of this product line.
Garden supplies witnessed the third highest sales of this sector, with the average daily number of active buyers reaching 4,000+ and about 1,000,000+ items are required to be added. This product is mostly favoured in the US, India, Australia, the Philippines, and Russia.
“Viet Nam is a member of many economic and trade agreements. We believe these free trade agreements will be crucial for Vietnamese SMEs in the long run. Thanks to FTAs and globalisation efforts, local businesses will have more opportunities to lower the threshold of exporting to new markets. We believe that global trade through B2B e-commerce can provide that opportunity and enable more Vietnamese SMEs to recover and even get sustainable growth,” said Roger Lou, Alibaba.com Viet Nam Country Manager.