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Vietnam Home Furniture Market Size, Share, Growth, Analysis: By Type: Beds, Tables and Desks, Sofa and Couch, Chairs and Stools, Cabinets and Shelves, Others; By Material: Metal, Wood, Plastic, Glass, Others; By Distribution Channel: Home Centres, Speciality Stores, Flagship Stores, Online Stores, Others; Competitive Landscape; 2024-2032
Vietnam Home Furniture Market Outlook
The Vietnam home furniture market size was approximately USD 1.1 billion in 2023. The market is assessed to grow at a CAGR of 9% between 2024 and 2032, reaching a value of USD 2.39 billion by 2032.
Key Trends in the Market
Home furniture is an item that complements the living rooms, bedrooms, bathrooms, and kitchens within a house. It can be arranged to create a comfortable living atmosphere within the house and promote good sleeping habits and support better seating posture. It can be customised as per each family’s requirement and can cater to the styles and taste of each member, thereby creating a sense of belonging and safety for everyone.
- The growth of the market is aided by rapid innovations in the home furniture sector due to increasing collaborations with foreign partners. Well-tailored customer pricing models along with vigorous advertising campaigns aimed at capturing customer attention are delivering effective results and boosting the Vietnam home furniture market demand.
- The rise in use of sustainable materials for manufacturing home furniture is expected to increase the demand for home furniture in Vietnam. This is because bamboo and rattan are abundantly available in Vietnam and their natural properties make them an ideal fit for making furniture. For example, bamboo possesses a higher tensile strength than steel and rattan is highly flexible and lightweight.
- Rapid urbanisation in Vietnam has boosted the demand for minimalist and modern home furniture that is both practical and stylish. Multi-functional furniture ensures space optimisation within houses and makes way for innovation in interior designing. This is one of the key Vietnam home furniture market trends. Popular colours that provide a timeless look to home furniture in Vietnam include beige, grey, and white.
Market Segmentation
Based on type, the market is segregated into beds, tables and desks, sofa and couch, chairs and stools, and cabinets and shelves, among others. On the basis of material, the market can be divided into metal, wood, plastic, and glass, among others. The Vietnam home furniture market segmentation, based on distribution channel, includes home centres, speciality stores, flagship stores, and online stores, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Vietnam home furniture market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- AN CUONG Wood Working Materials
- AA Corporation
- The One Furniture
- Ashley Furniture Industries, LLC
- Cam Ha JSC
- Xuan Hoa Company
- Truong Thanh Wood Furniture Corp.
- Duc Thanh Wood Processing JSC
- Phu Tai JSC
- Minh Duong Furniture Corp.
- Others
Market Share by Distribution channel
As per the Vietnam home furniture market analysis, online distribution channels are expected to become one of the most popular means of purchasing home furniture. This is because changing business models are enabling Vietnamese people to use makeshift furniture that can be dismantled and returned to furniture company after usage. This would help people with transferable jobs in the developing nations to move homes easily and create new living spaces in different styles. The easy availability of makeshift furniture across these platforms is therefore bolstering their popularity.
Meanwhile, the preference for physical showrooms like speciality stores is increasing as they allow customers to purchase home furniture that enables them to take advantage of attractive discount offers and unique furniture designs which are otherwise not available in specific flagship stores or home centres.
Market Share by Material
Wooden furniture is expected to account for a significant Vietnam home furniture market share due to its sustainable nature. Wooden furniture is popular across the world owing to inner strength and durability. It can be carved into multiple shapes and designs and matches the interior of any home easily, thereby enhancing its aesthetic appeal. It has a naturally beautiful texture and is also ecofriendly in nature. Vietnam is becoming a popular destination for manufacturing wooden furniture owing to its low-cost labour and favourable government policies, supporting the Vietnam home furniture market growth.
Competitive Landscape
AA Corporation was established in 1989 and is headquartered in Ho Chi Minh City of Vietnam. It provides interior designing solutions to the hospitality sector. It is a ISO 4001: 2015 certified company with 13 subsidiaries operating in 7 different Asian countries which export their products to 40 nations globally.
Cam Ha JSC was established in October 1982 and is headquartered in Quang Nam Province of Vietnam. It specialises in providing mix material furniture and exports its final products to more than 20 countries worldwide. The mix material includes metal and wood, textylene, and webbing strap, among others which are supplied to major markets like USA and Europe. Its product range includes living room sofas, dining tables, and lounges, among others. Cam Ha is an ISO 9001:2008 certified company.
Phu Tai JSC was established in 1994 and is headquartered in Binh Dinh Province of Vietnam. It is engaged in the business of producing wooden furniture, polishing marble and other stones, quarrying for building materials, trading spare car parts, renting offices, and repairing damaged cars.
Other major players in the Vietnamese home furniture market are AN CUONG Wood Working Materials, The One Furniture, Ashley Furniture Industries, LLC, Xuan Hoa Company, Truong Thanh Wood Furniture Corp., Duc Thanh Wood Processing JSC, and Minh Duong Furniture Corp., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
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| Breakup by Material |
|
| Breakup by Distribution Channel |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Home Furniture Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Home Furniture Historical Market (2018-2023)
8.3 Asia Pacific Home Furniture Market Forecast (2024-2032)
8.4 Asia Pacific Home Furniture Market breakup by Country
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 ASEAN
8.4.5 Australia
8.4.6 Vietnam
8.4.7 Others
9 Vietnam Home Furniture Market Overview
9.1 Key Industry Highlights
9.2 Vietnam Home Furniture Historical Market (2018-2023)
9.3 Vietnam Home Furniture Market Forecast (2024-2032)
10 Vietnam Home Furniture Market by Type
10.1 Beds
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Tables and Desks
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 Sofa and Couch
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Chairs and Stools
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Cabinets and Shelves
10.5.1 Historical Trend (2018-2022)
10.5.2 Forecast Trend (2023-2028)
10.6 Others
11 Vietnam Home Furniture Market by Material
11.1 Metal
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Wood
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Plastic
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Glass
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Vietnam Home Furniture Market by Distribution Channel
12.1 Home Centres
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Speciality Stores
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Flagship Stores
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Online Stores
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Trade Data Analysis (HS Code – 940340, 940350)
14.1 Major Importing Countries
14.1.1 By Volume
14.1.2 By Value
14.2 Major Exporting Countries
14.2.1 By Volume
14.2.2 By Value
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 AN CUONG Wood Working Materials
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 AA Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 The One Furniture
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Ashley Furniture Industries, LLC
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Cam Ha JSC
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Xuan Hoa Company
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Truong Thanh Wood Furniture Corp.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Duc Thanh Wood Processing JSC
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Phu Tai JSC
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Minh Duong Furniture Corp.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Home Furniture Market: Key Industry Highlights, 2018 and 2032
2. Vietnam Home Furniture Market: Key Industry Highlights, 2018 and 2032
3. Vietnam Home Furniture Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Vietnam Home Furniture Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Vietnam Home Furniture Historical Market: Breakup by Material (USD Billion), 2018-2023
6. Vietnam Home Furniture Market Forecast: Breakup by Material (USD Billion), 2024-2032
7. Vietnam Home Furniture Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
8. Vietnam Home Furniture Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
9. Major Importing Countries by Volume
10. Major Exporting Countries by Volume
11. Major Importing Countries by Value
12. Major Exporting Countries by Value
13. Vietnam Home Furniture Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 1.1 billion.
The market is estimated to grow at a CAGR of 9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 2.39 billion by 2032.
The market is being driven by the increasing innovations in the home furniture production processes and rapid urbanisation which is leading to an increased requirement for comfortable and practical housing solutions.
The key trends aiding the market expansion include increasing foreign collaboration, rising utilization of sustainable materials for manufacturing furniture, and the growing demand for minimalist and modern furniture.
The major types of furniture include beds, tables and desks, sofa and couch, chairs and stools, and cabinets and shelves, among others.
The major distribution channels include home centres, speciality stores, flagship stores, and online stores, among others.
The major players in the market are AN CUONG Wood Working Materials, AA Corporation, The One Furniture, Ashley Furniture Industries, LLC, Cam Ha JSC, Xuan Hoa Company, Truong Thanh Wood Furniture Corp., Duc Thanh Wood Processing JSC, Phu Tai JSC, and Minh Duong Furniture Corp., among others.
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