Vietnam Graphic Design Market valued at USD 1.15 billion in 2020 and is predicted to reach USD 1.84 billion by 2030 with a CAGR of 4.9%

The Vietnam Graphic Design Market was valued at USD 1.15 billion in 2020 and is predicted to reach USD 1.84 billion by 2030 with a CAGR of 4.9% from 2021-2030.

Graphic design is a creative process that combines art and technology to communicate ideas. It includes usage of both graphics and text to convey an idea or a concept. Graphic design finds several applications in the fields of advertising, branding, web development, printing, and digital marketing among others. It involves creation of logos, posters, brochures, newsletters, signs, and other forms of visual communication. The graphic design industry in Vietnam is slated to grow as high-quality graphic design services and is anticipated to become increasingly integral for companies seeking to develop their brand image.

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Competitive Landscape

The Vietnam graphic design industry represents a highly fragmented market with cut throat competition among the market players. Some of the major market players operating in Vietnam’s graphic design industry are What’zhat Agency, Cat Tuong Packaging Industrial Co., Ltd., DuyTan Plastics Corp, 3FORCOM, CO-WELL Asia Co., Ltd., Artio Media, Panpic Technology Co., Ltd., Goldidea Branding Creative & Design, THE 7 STUDIO, and GEMA.

Market Dynamics and Trends

Businesses in Vietnam are increasingly depending on the graphic design industry to strengthen their brand presence across various channels, including packaging, advertisement, and their websites. Global players are looking forward to new markets to explore the untapped opportunities, especially in the Asian markets. These factors significantly boost the graphic design market growth in Vietnam. Although many leading players had invested in China, the U.S.- China trade war is heavily impacting these players. Hence, these companies are forced to cut down costs and reduce its dependence on China by entering into new emerging markets such as Vietnam, which in turn significantly fuels the market growth. Moreover, companies operating in Vietnam are facing challenges associated with language barrier and cultural differences. As a result, companies are focusing on developing localized version of their websites to target the Vietnamese customers. The graphic design industry serves a wide range of businesses in industries such as food & beverage, personal care, agriculture, electronics, IT, telecommunication, and retail, thereby creating lucrative growth opportunities for market players as well as freelancers. Apart from these, the graphic design industry was also driven by various factors such as growing IT industry, improvement in ease of doing business policies such as reforms related to credit access and tax payments, considerable investments in infrastructure development, and increasing number of technology startups.

However, the graphic design industry in Vietnam has been witnessing unique challenges and opportunities owing to the fragmented nature of the industry. On the other hand, fragmentation enables the industry to serve the niche markets, while the same creates intense competition with the emergence of various freelance graphic designers.

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Market Segmentations and Scope of the Study:

The Vietnam graphic design market is segmented on the basis of type including product packaging design industry, web and app UI design industry, corporate identity design industry, advertising & communication design industry, building and construction design industry, and others. The product packaging design industry is further classified into food & beverage industry, cosmetics industry, liquor & tobacco industry, and others. The web & app UI design industry is further categorized as user experience (UX) design industry, user interface (UI) design industry, and visual & graphic design industry. The corporate identity design industry is divided into logo design industry, identity design industry, and brand design industry. . The advertising & communication design industry includes print advertisement design industry, electronic advertisement design industry, outdoor advertisement design industry, and other advertisement design industries. The building and construction design industry is bifurcated into home decoration or interior design industry, and architecture or exterior design industry. The others segment includes entertainment, and fashion and apparel industries.

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