Vietnam Furniture Market Grow with a CAGR of 6.72% through 2030F

The Vietnam Furniture market is driven by increasing urbanization, rising disposable income, demand for sustainable products, and a booming real estate sector.

According to TechSci Research report, “Vietnam Furniture Market – By Region, Competition, Forecast & Opportunities, 2030F”, the Vietnam Furniture market stood at USD 2.45 Billion in 2024 and is anticipated to grow USD 5.02 Billion by 2030 with a CAGR 6.72% during forecast period owing to the country's expanding middle class, coupled with rising disposable incomes. As more consumers gain purchasing power, they are increasingly investing in high-quality and stylish furniture for both residential and commercial spaces. Urbanization is another significant driver, with more people moving to cities and requiring modern, space-efficient furniture to fit smaller living spaces. Also, the booming real estate sector, including residential and office spaces, is driving furniture demand. The growth of e-commerce platforms also plays a role, as online shopping offers consumers greater access to a variety of furniture choices.

The Vietnam Furniture market is driven by the country's growing demand for smart furniture. With the increasing integration of technology in everyday life, consumers are seeking furniture that offers both functionality and convenience. Smart furniture, including items with built-in charging ports, Bluetooth speakers, and even adjustable features controlled by smartphones, is gaining traction. This trend is particularly strong in urban areas, where smaller living spaces require multifunctional and space-saving designs. Also, the growing interest in home automation and smart homes is contributing to the demand for furniture that aligns with tech-savvy lifestyles. Manufacturers are now incorporating innovative features into their product offerings to cater to this new consumer need. As the country becomes more digitally connected, smart furniture is expected to continue driving growth in Vietnam's furniture market.

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The Vietnam Furniture market is segmented into material, category, end user, distribution channel, and region.

Based on the distribution channel, the online segment is the fastest growing in the Vietnam Furniture market, driven by the increasing adoption of e-commerce platforms and digital retailing. As more consumers turn to online shopping for convenience and a broader selection of products, furniture brands are focusing on expanding their online presence. E-commerce platforms offer customers the ability to browse a wide variety of furniture, compare prices, and read reviews, all from the comfort of their homes. Also, many online retailers are integrating advanced features like augmented reality tools to help consumers visualize furniture in their living spaces. This shift to digital retailing is expected to accelerate as internet penetration and consumer confidence in online shopping continue to grow in Vietnam.

Based on the region, Central is the fastest-growing region in the Vietnam Furniture market, driven by rapid urbanization and increasing infrastructure development. Cities like Da Nang and Hue are seeing significant growth in both residential and commercial sectors, which directly impacts the demand for furniture. As the region experiences economic expansion, particularly in tourism, real estate, and retail, there is an increasing need for modern and functional furniture. Also, the rise in disposable incomes among the local population is fueling demand for stylish and high-quality furniture products. This growth in both demand and development makes Central Vietnam a key area for the furniture industry.

Major companies operating in the Vietnam Furniture market are:

• Cam Ha Joint Stock Company
• Duc Thanh Wood Processing Jsc.
• AA Corporation
• Tran Duc Furnishings
• Kaiser Furniture Industry (Vietnam) Co Ltd
• Phan Le Furniture
• Woodnet Ltd
• ATC Furniture
• Lam Nguyen Co Ltd
• Minh Duong Chu Lai Furniture Corporation

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“The Vietnam Furniture market is expected to grow in the future owing to the hospitality sector, particularly in tourism and hospitality-driven urban areas. As Vietnam continues to experience a boom in international tourism, there is an increased demand for furniture in hotels, resorts, and other hospitality establishments. These businesses are investing in high-quality, durable, and aesthetically pleasing furniture to cater to tourists seeking comfortable and stylish accommodations. Also, the rise of boutique hotels and luxury resorts has further boosted the demand for customized and premium furniture options. As the hospitality industry expands, it not only drives furniture sales but also encourages innovation in design to meet the specific needs of the sector, propelling the growth of the furniture market in Vietnam", said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

"Vietnam Furniture Market By Material (Wood, Metal, Plastic, Others), By Category (Indoor, Outdoor), By End User (Residential, Commercial), By Distribution Channel (Online, Offline), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of Vietnam Furniture market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Vietnam Furniture market.

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