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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 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 tastes of each member, thereby creating a sense of belonging and safety for everyone.
The growth of the home furniture industry 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 growing use of sustainable materials in home furniture production is anticipated to boost the Vietnam home furniture demand growth. Bamboo and rattan, readily available and ideal for furniture due to their natural properties, are key factors. Bamboo’s tensile strength surpasses steel, while rattan’s flexibility and lightweight enhance its suitability.
The Vietnam home furniture market dynamics and trends are being driven by rapid urbanisation, which has increased demand for minimalist and modern furniture that combines practicality with style. Multi-functional furniture ensures space optimisation within houses and makes way for innovation in interior design. 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.
As per the Transnational Crime and Corruption Centre, in 2005, Vietnam's furniture exports were valued at approximately USD 1.8 billion. This figure remained relatively stable through 2008, with exports around USD 3.5 billion. A notable increase occurred starting in 2010, with exports rising to USD 3.8 billion. Further, in 2012 it increased to USD 4.2 billion. By 2015, Vietnam's furniture exports had grown to USD 5.7 billion, nearly doubling from the 2010 figures. The period from 2016 to 2020 saw an accelerated growth phase. In 2016, exports reached USD 6.0 billion, and by 2018, this figure had climbed to USD 7.8 billion. The most significant growth happened between 2019 and 2020, with exports soaring from USD 8 billion to nearly USD 12 billion. This surge has boosted Vietnam home furniture market revenue, as Vietnamese furniture is celebrated for its quality and affordability. The export sector keeps expanding due to rising global demand for eco-friendly and stylish furniture.
As per Vecom, the revenue from B2C e-commerce in Vietnam increased from USD 8.06 billion in 2018 to an estimated USD 20.5 billion in 2023, marking an impressive compound annual growth rate (CAGR) of approximately 19%. In 2018, the market generated USD 8.06 billion, with a 30% growth rate compared to 2017. By 2019, the revenue had risen to USD 10.8 billion, with a 25% growth rate. The upward trend continued in 2020, with e-commerce revenue reaching USD 11.8 billion, although the growth rate slowed to 18%. In 2021, the revenue surged to USD 13.7 billion, growing by 16%. By 2022, the market had further expanded, reaching USD 16.4 billion, with a 20% growth rate. The revenue for 2023 stood at USD 20.5 billion, with a growth rate of 25%. The rapid expansion of Vietnam's B2C e-commerce market is significantly influencing the growth of the Vietnam home furniture industry revenue, as more consumers turn to online shopping, the convenience of purchasing furniture through digital platforms has become a key driver of demand.
AA Corporation
The One Furniture
Ashley Furniture Industries, LLC
“Vietnam Home Furniture Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Material
Market Breakup 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 the furniture company after usage. This would help people with transferable jobs in 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.
Simultaneously, the growing preference for physical showrooms and speciality stores is driving the Vietnam home furniture industry. These venues offer customers access to appealing discount offers and unique furniture designs not typically available in flagship stores or home centres, further stimulating Vietnam home furniture industry growth.
The companies blend traditional craftsmanship with modern design, offering high-quality, stylish furniture for residential and commercial spaces. They focus on detail, sustainability, and enhancing comfort and aesthetics.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached an approximate value of USD 1.1 billion.
The market is projected to grow at a CAGR of 9% between 2024 and 2032.
The market is estimated to witness 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 competitive landscape consists of 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.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
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:
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Breakup by Type |
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Breakup by Material |
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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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Australia
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Philippines
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+63 287899028, +63 967 048 3306
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+44-753-713-2163
United States (Head Office)
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+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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