Vietnam Home Furniture Market By Furniture Type (Kitchen Furniture, Living-room Furniture, Dining-room Furniture, Bedroom Furniture, Other Furniture), By Sales Channel (Supermarkets/Hypermarkets, Specialty Stores, Online, Others), By Region, Competition, Forecast & Opportunities, 2020-2030F

Market Overview

Vietnam Home Furniture Market was valued at USD 400.89 Million in 2024 and is expected to reach USD 687.77 Million by 2030 with a CAGR of 9.47% during the forecast period. Vietnam has become a leading destination for establishing furniture manufacturing facilities and serves as a major hub for furniture exports. The country exports its furniture to over 120 countries, with key markets including the United States, the United Kingdom, Canada, Australia, and Japan. Vietnamese furniture is also increasingly sought after in China. Locally, consumers have access to a wide variety of furniture, with wooden pieces being the most favored. Both indoor and outdoor furniture segments remain strong in Vietnam and are expected to continue growing. Compared to other global furniture exporters, Vietnam benefits from production advantages that position its industry well for expanding its international market share. Additionally, the presence of international brands is boosting kitchen cabinet sales in Vietnam. For example, American home office and entertainment furniture brand Martin Furniture relocated its production to Vietnam in December 2023 to broaden its offerings to include dining room furniture, featuring decorative kitchen cabinets. These brands introduce a variety of high-end, innovative kitchen cabinet designs, often customized to suit modern lifestyles and maximize space efficiency. Vietnam’s real estate sector is experiencing rapid growth driven by a significant increase in foreign investment. According to the General Statistics Office, foreign investors contributed USD 2.4 billion to Vietnam’s real estate market between January and August 2024. This investment is expected to continue rising in the coming years, fueled by new residential projects launched by leading developers in the market.

Key Market Drivers

Rapid Urbanization and Housing Development

Vietnam's home furniture market is strongly driven by rapid urbanization and the continuous development of housing infrastructure. The Vietnamese government is also actively investing in housing development projects to accommodate the growing urban population. As these new residential spaces are completed, the need for home furnishing, especially functional and space-optimizing furniture, increases significantly. Urban living often comes with smaller spaces, pushing consumers to seek out smart, multi-purpose furniture that maximizes utility while maintaining aesthetic appeal. Modular designs, convertible pieces, and storage-optimized furniture are becoming especially popular among young professionals and nuclear families living in city apartments. Moreover, urban dwellers tend to have higher exposure to global lifestyle trends and design inspirations through digital platforms, which influences their purchasing decisions and preferences for modern and stylish furniture. According to the Ministry of Construction, in the fourth quarter of 2022, 22 new projects with 5,995 licensed units were approved, while 466 projects comprising 228,029 units were under construction, and 28 projects with 3,258 units were completed. This surge in residential development highlights increasing demand for kitchen furniture installations in these commercial housing units, contributing to the overall growth of the Vietnam kitchen furniture market.

Growing Middle Class and Rising Disposable Income

Vietnam’s expanding middle class and rising disposable income levels are major contributors to the growth of the home furniture market. Over the past decade, economic reforms, industrial growth, and foreign direct investment have propelled Vietnam’s economy, resulting in significant improvements in household incomes. With higher spending power, consumers are now more willing to invest in quality furniture that enhances comfort, functionality, and aesthetics in their homes. This shift is particularly evident in urban and peri-urban regions, where consumers are increasingly opting for branded, durable, and stylish furniture products. Previously seen as discretionary spending, home furnishings are now considered an essential part of lifestyle enhancement. Higher incomes also enable customers to move beyond basic furniture needs to embrace thematic interiors, custom furniture solutions, and imported products. As incomes grow, there is also a noticeable rise in home renovation and interior design spending, driven by changing tastes and aspirations. Consumers are placing greater importance on aesthetics, materials, and sustainability when selecting furniture. As a result, furniture retailers and manufacturers are expanding their offerings to include premium and personalized furniture options.

Influence of E-Commerce and Digitalization

The rising popularity of e-commerce platforms, coupled with increased internet and smartphone penetration and the convenience of doorstep delivery, has significantly boosted online sales of kitchen furniture in Vietnam. According to the Ministry of Industry and Trade, Vietnam’s e-commerce market was valued at USD 13.7 billion in 2023, making up around 6.5% of total retail revenue. This marked a 16% increase compared to the previous year. The market is projected to grow at an annual rate of 30% from 2021 to 2025, driving further expansion in online kitchen furniture sales. Furniture companies are capitalizing on this trend by expanding their digital presence through dedicated e-commerce websites, social media marketing, virtual showrooms, and partnerships with leading online marketplaces such as Tiki, Shopee, and Lazada. These platforms offer a convenient, user-friendly shopping experience, allowing consumers to browse furniture collections, compare prices, read reviews, and even visualize furniture placements through augmented reality features. The digital shift is especially beneficial for customers in smaller cities and rural areas, where physical showrooms may be limited. E-commerce bridges this gap by offering a wider product selection and easier access to urban trends. 

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Key Market Challenges

Intense Competition from Imported Products

One of the significant challenges facing the Vietnam home furniture market is the intense competition from imported furniture, particularly from countries like China, Malaysia, and Thailand. These imports are often mass-produced and sold at highly competitive prices, making it difficult for local manufacturers to compete, especially on cost and volume. Many foreign products are also perceived as offering better quality or more trendy designs, attracting middle- to upper-income consumers. Vietnamese manufacturers, especially small and medium enterprises (SMEs), struggle to match the scale, efficiency, and technological capabilities of foreign competitors. Limited access to advanced machinery, modern production processes, and high-quality raw materials puts local players at a disadvantage. Additionally, imported goods often benefit from free trade agreements, which reduce tariffs and make them even more appealing to local buyers. This growing presence of foreign brands in both physical and online retail spaces creates a saturated market, placing pressure on Vietnamese firms to either lower prices or invest heavily in innovation—both of which may not be financially sustainable for smaller businesses. As a result, without strong branding, differentiation, or government support, local furniture companies risk losing market share in the face of foreign competition.

Fluctuating Raw Material Prices and Supply Chain Issues

Fluctuating prices of raw materials, such as wood, steel, foam, and fabric, significantly challenge the stability of Vietnam’s home furniture market. As a largely materials-dependent industry, furniture manufacturing is highly sensitive to global commodity price shifts and supply chain disruptions. For example, events such as geopolitical tensions, trade restrictions, or rising freight costs can lead to shortages or increased costs of essential inputs. Vietnam also relies on imported raw materials, especially for high-end furniture production, which makes the market vulnerable to currency fluctuations and international logistics delays. When material costs rise sharply, manufacturers are forced to either absorb the losses, which impacts profit margins, or pass the cost onto consumers, which can reduce demand. In addition, domestic sources of quality timber are limited due to deforestation concerns and sustainability regulations. This leads to increased dependence on certified imported wood, which can further elevate costs and complicate procurement processes. These supply chain challenges disrupt production schedules, delay product launches, and diminish the ability of local companies to compete on price and delivery time, especially in the fast-moving consumer market.

Skilled Labor Shortages and Limited Innovation Capacity

Vietnam’s home furniture industry is also hampered by a shortage of skilled labor and limited innovation capacity. While the country has a strong tradition of craftsmanship, the shift toward modern, large-scale, and tech-driven furniture production requires a new generation of workers with specialized training in design software, machinery operation, and quality control. Unfortunately, the supply of such skilled labor remains inadequate, particularly in rural areas where many furniture factories are located. Moreover, the lack of structured vocational training programs specific to the furniture sector leads to a skills gap that slows innovation and productivity. Without a strong talent pool, companies struggle to adopt modern manufacturing techniques, develop unique product designs, or enhance production efficiency. Innovation in design and materials is also limited among local manufacturers, many of whom continue to replicate existing styles rather than invest in research and development. This makes it difficult to differentiate in a competitive and design-driven market. Combined with limited financial resources and access to global design trends, the innovation deficit can restrict the long-term growth of Vietnamese furniture brands, especially as consumer preferences shift rapidly toward more functional, sustainable, and tech-integrated home solutions.

Key Market Trends

Rising Demand for Multi-Functional and Space-Saving Furniture

As urbanization increases and more people live in compact apartments and smaller homes, the demand for multi-functional and space-saving furniture has surged in Vietnam. Consumers are looking for furniture that maximizes utility without occupying too much space. Popular examples include foldable dining tables, sofa beds, extendable shelves, and modular storage units. These pieces are especially appealing to younger buyers and small families who prioritize practicality and flexibility in limited living spaces. Manufacturers are responding by designing innovative furniture that serves multiple purposes—such as beds with under-storage, desks that convert into shelves, and kitchen furniture that integrates seating and storage. This trend is also influenced by minimalist and modern interior design styles that focus on decluttering and efficient use of space. The growing awareness of interior design, often driven by social media and home décor platforms, is also pushing consumers toward stylish yet functional solutions. As apartments continue to dominate Vietnam's urban housing market, the demand for smart, compact furniture is expected to remain strong, encouraging both local and international brands to invest in adaptable, space-efficient product lines.

Growing Popularity of Eco-Friendly and Sustainable Furniture

Environmental consciousness is becoming a key driver in consumer purchasing decisions, leading to a growing trend toward eco-friendly and sustainable furniture in Vietnam. With rising awareness about climate change and environmental degradation, many consumers now prioritize products made from renewable, recycled, or sustainably sourced materials. Furniture made from certified wood, bamboo, rattan, and reclaimed materials is gaining popularity, especially among middle- and upper-income buyers. Moreover, low-VOC finishes, non-toxic adhesives, and environmentally responsible manufacturing processes are increasingly being considered as part of the decision-making process. This trend is especially strong among younger generations and urban consumers who are more exposed to global sustainability movements. Manufacturers are also aligning their business strategies with eco-conscious values by adopting green certifications and sustainable supply chain practices. Some brands actively promote their environmental initiatives as a way to build trust and brand loyalty. This not only caters to environmentally aware consumers but also opens up export opportunities to markets with strict environmental standards.

Digitalization and Growth of Online Furniture Retail

The rapid digitalization of retail is transforming how consumers shop for home furniture in Vietnam. With increasing internet penetration and smartphone usage, online furniture sales have become one of the fastest-growing segments in the market. E-commerce platforms such as Shopee, Lazada, and Tiki, along with brand-owned online stores, are offering consumers a convenient way to explore, compare, and purchase furniture from the comfort of their homes. This trend has been further accelerated by the COVID-19 pandemic, which changed shopping behavior and encouraged greater reliance on digital platforms. Customers can now browse extensive catalogs, view 3D models, access virtual showrooms, and even use augmented reality tools to visualize furniture in their spaces before buying. These features have significantly improved the online furniture shopping experience, making it more personalized and engaging. Retailers are also using data analytics and digital marketing to better understand customer preferences and offer targeted promotions.

Segmental Insights

Furniture Type Insights

In the Vietnam Home Furniture Market, bedroom furniture stands out as the dominant segment by furniture type. This is largely due to its essential role in every household. As one of the first categories people invest in when furnishing a home, bedroom furniture—including beds, wardrobes, nightstands, and dressers—accounts for a significant share of furniture spending. The growing number of new housing developments, particularly in urban areas, has led to an increasing demand for complete bedroom sets that combine comfort, functionality, and style. Vietnam’s expanding middle class and rising disposable incomes are also contributing to this trend. Consumers are now willing to spend more on durable and aesthetically pleasing bedroom pieces, especially those that reflect modern interior trends or can be customized to suit specific room sizes and layouts. The popularity of online shopping and furniture showrooms has made bedroom furniture more accessible across the country, further driving sales. Additionally, with space constraints in urban housing, there is rising interest in multi-functional bedroom furniture such as beds with built-in storage or modular wardrobes which adds value and convenience. As housing projects and consumer preferences continue to evolve, bedroom furniture is expected to maintain its leading position in Vietnam’s home furniture market.

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Regional Insights

The Northern Region of Vietnam, particularly Hanoi and its surrounding provinces, holds the dominant position in the Vietnam Home Furniture Market. This leadership can be attributed to several economic and demographic factors. As the political and cultural capital of the country, Hanoi serves as a major economic hub with a high concentration of urban development, infrastructure projects, and residential construction. These conditions create a strong and sustained demand for home furniture, especially among the growing middle class and young families seeking modern and comfortable living spaces. The Northern region also benefits from a robust manufacturing base, including clusters of furniture producers and skilled artisans in provinces like Bac Ninh, Hung Yen, and Hai Duong. These areas supply both domestic and export markets, enabling competitive pricing and faster delivery times. Additionally, improved transportation networks and logistical connectivity within the region facilitate efficient distribution of furniture products across urban and rural markets. Consumer preferences in the North lean toward contemporary, space-saving, and multifunctional furniture, aligning well with the rise in apartment living. The popularity of online furniture shopping platforms is also growing rapidly in Hanoi, further boosting market penetration. Given its economic scale, infrastructure, and rising purchasing power, the Northern region is expected to continue driving the growth of Vietnam’s home furniture market.

Recent Developments

• In 2024, renowned luxury furniture brand FENDI Casa officially entered the Vietnamese market, bringing its distinguished European design heritage to Asian living spaces.
• In 2024, Mr. DIY launched its flagship store in Vietnam, following the success of its initial physical location introduced the previous year. Situated on the second floor of the Aeon Tan Phu shopping center, the flagship outlet offers a diverse selection of products, including hardware, home essentials, electrical items, furniture, automotive accessories, stationery, sports equipment, jewelry, and cosmetics.
• In 2023, Nitori Holdings Co., Ltd. marked its entry into Vietnam by opening the first Nitori store in the country, reinforcing its strategy to accelerate expansion across the Asian market.
• In 2023, Yoshimoto Sangyo Co., Ltd. entered the Vietnamese market through a strategic partnership with Vinh An Interior & Decor, formalized by the signing of an agreement in Hanoi. This collaboration marks Yoshimoto’s official debut in Vietnam’s kitchen furniture industry.

Key Market Players

• AA Corporation
• Duc Thanh Wood Processing JSC
• Truong Thanh Furniture Corporation
• BO Concept
• Ashley Furniture Industries
• Min Duong Furniture Corporation
• Woodnet
• Kaiser Furniture
• Nitori Furniture
• Hoang MOC Furniture

Report Scope:

In this report, the Vietnam Home Furniture Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Vietnam Home Furniture Market, By Furniture Type:

o   Kitchen Furniture

o   Living-room Furniture

o   Dining-room Furniture

o   Bedroom Furniture

o   Other Furniture

• Vietnam Home Furniture Market, By Sales Channel:

o   Supermarkets/Hypermarkets

o   Specialty Stores

o   Online

o   Others  

• Vietnam Home Furniture Market, By Region:

o   Northern

o   Southern

o   Central

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Vietnam Home Furniture Market.

Available Customizations:

Vietnam Home Furniture Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).