
Vietnam Furniture Market Report and Forecast 2025-2034
Description
The Vietnam furniture market reached approximately USD 1.37 Billion in 2024. The market is projected to grow at a CAGR of 5.10% between 2025 and 2034, reaching a value of around USD 2.25 Billion by 2034.
Vietnam Furniture Market Growth
The growth of the real estate sector, the shift in buyer’s preference towards modern and space-saving furniture, and the rise of eco-friendly furniture designs are some of the major market drivers. Consumers in the country are becoming more aware of the environmental consequences and are actively searching for furniture crafted from renewable resources, recycled materials, or certified sustainable wood.
The demand for customised and personalised furniture solutions is on the rise as manufacturers and retailers now provide made-to-order options to their customers, thus impacting the Vietnam furniture industry revenue. This allows them to select their preferred designs, materials and colours, catering to their individual preferences. The incorporation of technology into furniture design is also becoming increasingly popular as smart furniture, equipped with features like built-in charging stations, IoT connectivity, and ergonomic designs, is particularly appealing to tech-savvy consumers.
Furthermore, there is a growing recognition of the artistry and craftsmanship involved in handcrafted furniture. Consumers appreciate the uniqueness, quality, and narrative behind each furniture piece, contributing to the surge in the popularity of artisan-made furniture in the market.
Key Trends and Recent Developments
Growth in the number of exports to other countries, rising demand for sustainable materials and the incorporation of robotics are expected to increase the Vietnam furniture market revenue.
August 2024
Marking the start of Asia's leading furniture expo series for Autumn 2024, which includes fairs in South Korea, Malaysia, China, and Indonesia, the premier Southeast Asian furniture fair, VIFA ASEAN 2024 is set to take place from August 27 – 30, 2024, at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, Vietnam.
July 2024
The Hawa Expo 2025, is set for March 7-15, 2025. This fair is backed by the Ministry of Agriculture and Rural Development and the Ministry of Industry and Trade and will feature furniture products from Vietnam’s leading manufacturers. This will likely shape the Vietnam furniture market dynamics and trends.
April 20, 2024
Vietnamese furniture products were introduced at Milan Design Week in Italy by Vietnamese enterprises the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) and the Handicraft and Wood Industry Association of HCM City (HAWA). Enterprises were encouraged to focus on enhancing their competitiveness through good cooperation with design buyers in Italy and Europe, in order to penetrate deeper into the European market, as well as other markets.
April 1, 2024
Nice Link Home Furnishings has expanded its manufacturing in Vietnam. Over the past year, Nice Link Home Furnishings has more than doubled its upholstery production in Vietnam and added a cut-and-sew factory there. The furniture and home décor brand is set to bring 23 new collections to the market.
Growth in the number of furniture exports globally
Vietnam has surpassed countries like Germany and Poland to become the second-largest furniture exporter worldwide. Furniture accounted for an estimated 82.9% of Vietnam’s total export turnover in wood and wood products in 2023, reaching approximately 8.4 billion USD. The country’s wood industry has also established itself in the international market, with an annual export value exceeding 10 billion USD, supporting the furniture demand in Vietnam. The main countries that Vietnam exports to have been the United States, Japan, the United Kingdom, Australia, and France.
Consumers demand for sustainable materials
As individuals grow more conscious about the environment and the impact of climate change, there has been an increased demand for the utilization of sustainable materials in furniture manufacturing. Wood from certified sustainable sources and recycled materials to make furniture are gaining popularity. There also have been changes from the market players’ ends as they have started adopting sustainable practices in the manufacturing process.
Growing demand for luxury and premium furniture segments
As disposable incomes have seen an increase, the industry has witnessed the growth of niche furniture markets such as the luxury and premium segments. Rapid urbanisation and modernisation have also played a key role in propelling this market. The high-end furniture makes use of better quality and exotic raw materials. It also involves more of handwork and human effort and less designing using machines. This also allows for customers to personalize and customize their pieces which boosts the overall furniture market.
Increased incorporation of automation and robotics in production
The Vietnam furniture industry is rapidly adopting automation to improve efficiency and reduce labour costs and enhance overall quantity as well as quality of production. Machines for designing and cutting the wood are actively used for enhanced precision. Assembling of furniture parts and elements is another task performed by robotic arms and machines. Automated assembly lines are growing in number that allow for a consistent and uniform assembling of furniture.
Vietnam Furniture Industry Segmentation
“Vietnam Furniture Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product:
Beds
Tables and Desks
Sofa and Couch
Chairs and Stools
Cabinets and Shelves
Others
Market Breakup by Material:
Wood
Metal
Plastics
Others
Market Breakup by End Use:
Residential
Commercial
Market Breakup by Sales Channel:
Online
Offline
Market Breakup by Region:
Southeast
Red River Delta
Mekong River Delta
South Central Coast
Others
Vietnam Furniture Market Share
Based on end-use, the market is divided into residential and commercial. The residential sector holds a significant share of the market due to growing urbanisation in the country in recent years, higher disposable incomes, and the expansion of the middle-class population. Additionally, the growing demand for household furniture items such as couches, beds, and dining tables as individuals seek to improve their living environments for increased comfort and to enhance visual appeal is aiding the segment growth.
Leading Companies in the Vietnam Furniture Market
The market participants are heavily investing in the production of eco-friendly furniture to gain a competitive edge in the market.
Furaka JSC
AA Corporation
The One Furniture
Ashley Furniture Industries, LLC
Minh Duong Furniture Corp.
Duc Thanh Wood Processing JSC
Xuan Hoa Company
Bristol Technologies Sdn Bhd
Vixfurniture Company Co. Ltd.
Zhejiang Sunon Furniture Manufacture Co., Ltd.
Others
Vietnam Furniture Market Report Snapshots
Vietnam Furniture Market Size
Vietnam Furniture Market Growth
Vietnam Furniture Market Share
Vietnam Furniture Companies
Vietnam Furniture Market Growth
The growth of the real estate sector, the shift in buyer’s preference towards modern and space-saving furniture, and the rise of eco-friendly furniture designs are some of the major market drivers. Consumers in the country are becoming more aware of the environmental consequences and are actively searching for furniture crafted from renewable resources, recycled materials, or certified sustainable wood.
The demand for customised and personalised furniture solutions is on the rise as manufacturers and retailers now provide made-to-order options to their customers, thus impacting the Vietnam furniture industry revenue. This allows them to select their preferred designs, materials and colours, catering to their individual preferences. The incorporation of technology into furniture design is also becoming increasingly popular as smart furniture, equipped with features like built-in charging stations, IoT connectivity, and ergonomic designs, is particularly appealing to tech-savvy consumers.
Furthermore, there is a growing recognition of the artistry and craftsmanship involved in handcrafted furniture. Consumers appreciate the uniqueness, quality, and narrative behind each furniture piece, contributing to the surge in the popularity of artisan-made furniture in the market.
Key Trends and Recent Developments
Growth in the number of exports to other countries, rising demand for sustainable materials and the incorporation of robotics are expected to increase the Vietnam furniture market revenue.
August 2024
Marking the start of Asia's leading furniture expo series for Autumn 2024, which includes fairs in South Korea, Malaysia, China, and Indonesia, the premier Southeast Asian furniture fair, VIFA ASEAN 2024 is set to take place from August 27 – 30, 2024, at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, Vietnam.
July 2024
The Hawa Expo 2025, is set for March 7-15, 2025. This fair is backed by the Ministry of Agriculture and Rural Development and the Ministry of Industry and Trade and will feature furniture products from Vietnam’s leading manufacturers. This will likely shape the Vietnam furniture market dynamics and trends.
April 20, 2024
Vietnamese furniture products were introduced at Milan Design Week in Italy by Vietnamese enterprises the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) and the Handicraft and Wood Industry Association of HCM City (HAWA). Enterprises were encouraged to focus on enhancing their competitiveness through good cooperation with design buyers in Italy and Europe, in order to penetrate deeper into the European market, as well as other markets.
April 1, 2024
Nice Link Home Furnishings has expanded its manufacturing in Vietnam. Over the past year, Nice Link Home Furnishings has more than doubled its upholstery production in Vietnam and added a cut-and-sew factory there. The furniture and home décor brand is set to bring 23 new collections to the market.
Growth in the number of furniture exports globally
Vietnam has surpassed countries like Germany and Poland to become the second-largest furniture exporter worldwide. Furniture accounted for an estimated 82.9% of Vietnam’s total export turnover in wood and wood products in 2023, reaching approximately 8.4 billion USD. The country’s wood industry has also established itself in the international market, with an annual export value exceeding 10 billion USD, supporting the furniture demand in Vietnam. The main countries that Vietnam exports to have been the United States, Japan, the United Kingdom, Australia, and France.
Consumers demand for sustainable materials
As individuals grow more conscious about the environment and the impact of climate change, there has been an increased demand for the utilization of sustainable materials in furniture manufacturing. Wood from certified sustainable sources and recycled materials to make furniture are gaining popularity. There also have been changes from the market players’ ends as they have started adopting sustainable practices in the manufacturing process.
Growing demand for luxury and premium furniture segments
As disposable incomes have seen an increase, the industry has witnessed the growth of niche furniture markets such as the luxury and premium segments. Rapid urbanisation and modernisation have also played a key role in propelling this market. The high-end furniture makes use of better quality and exotic raw materials. It also involves more of handwork and human effort and less designing using machines. This also allows for customers to personalize and customize their pieces which boosts the overall furniture market.
Increased incorporation of automation and robotics in production
The Vietnam furniture industry is rapidly adopting automation to improve efficiency and reduce labour costs and enhance overall quantity as well as quality of production. Machines for designing and cutting the wood are actively used for enhanced precision. Assembling of furniture parts and elements is another task performed by robotic arms and machines. Automated assembly lines are growing in number that allow for a consistent and uniform assembling of furniture.
Vietnam Furniture Industry Segmentation
“Vietnam Furniture Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product:
Beds
Tables and Desks
Sofa and Couch
Chairs and Stools
Cabinets and Shelves
Others
Market Breakup by Material:
Wood
Metal
Plastics
Others
Market Breakup by End Use:
Residential
Commercial
Market Breakup by Sales Channel:
Online
Offline
Market Breakup by Region:
Southeast
Red River Delta
Mekong River Delta
South Central Coast
Others
Vietnam Furniture Market Share
Based on end-use, the market is divided into residential and commercial. The residential sector holds a significant share of the market due to growing urbanisation in the country in recent years, higher disposable incomes, and the expansion of the middle-class population. Additionally, the growing demand for household furniture items such as couches, beds, and dining tables as individuals seek to improve their living environments for increased comfort and to enhance visual appeal is aiding the segment growth.
Leading Companies in the Vietnam Furniture Market
The market participants are heavily investing in the production of eco-friendly furniture to gain a competitive edge in the market.
Furaka JSC
AA Corporation
The One Furniture
Ashley Furniture Industries, LLC
Minh Duong Furniture Corp.
Duc Thanh Wood Processing JSC
Xuan Hoa Company
Bristol Technologies Sdn Bhd
Vixfurniture Company Co. Ltd.
Zhejiang Sunon Furniture Manufacture Co., Ltd.
Others
Vietnam Furniture Market Report Snapshots
Vietnam Furniture Market Size
Vietnam Furniture Market Growth
Vietnam Furniture Market Share
Vietnam Furniture Companies
Table of Contents
130 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Asia Pacific Furniture Market Overview
- 5.1 Key Industry Highlights
- 5.2 Asia Pacific Furniture Historical Market (2018-2024)
- 5.3 Asia Pacific Furniture Market Forecast (2025-2034)
- 6 Vietnam Furniture Market Analysis
- 6.1 Key Industry Highlights
- 6.2 Vietnam Furniture Historical Market (2018-2024)
- 6.3 Vietnam Furniture Market Forecast (2025-2034)
- 7 Vietnam Furniture Market by Product
- 7.1 Beds
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Tables and Desks
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Sofa and Couch
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Chairs and Stools
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 7.5 Cabinets and Shelves
- 7.5.1 Historical Trend (2018-2024)
- 7.5.2 Forecast Trend (2025-2034)
- 7.6 Others
- 8 Vietnam Furniture Market by Material
- 8.1 Wood
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Metal
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Plastics
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 Others
- 9 Vietnam Furniture Market by End Use
- 9.1 Residential
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Commercial
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 10 Vietnam Furniture Market by Sales Channel
- 10.1 Online
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Offline
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 11 Vietnam Furniture Market by Region
- 11.1 Southeast
- 11.1.1 Historical Trend (2018-2024)
- 11.1.2 Forecast Trend (2025-2034)
- 11.2 Red River Delta
- 11.2.1 Historical Trend (2018-2024)
- 11.2.2 Forecast Trend (2025-2034)
- 11.3 Mekong River Delta
- 11.3.1 Historical Trend (2018-2024)
- 11.3.2 Forecast Trend (2025-2034)
- 11.4 South Central Coast
- 11.4.1 Historical Trend (2018-2024)
- 11.4.2 Forecast Trend (2025-2034)
- 11.5 Others
- 12 Market Dynamics
- 12.1 SWOT Analysis
- 12.1.1 Strengths
- 12.1.2 Weaknesses
- 12.1.3 Opportunities
- 12.1.4 Threats
- 12.2 Porter’s Five Forces Analysis
- 12.2.1 Supplier’s Power
- 12.2.2 Buyers Powers
- 12.2.3 Threat of New Entrants
- 12.2.4 Degree of Rivalry
- 12.2.5 Threat of Substitutes
- 12.3 Key Indicators for Demand
- 12.4 Key Indicators for Price
- 13 Value Chain Analysis
- 14 Trade Data Analysis (HS Code – 943)
- 14.1 Major Exporting Countries
- 14.1.1 By Value
- 14.1.2 By Volume
- 14.2 Major Importing Countries
- 14.2.1 By Value
- 14.2.2 By Volume
- 15 Competitive Landscape
- 15.1 Supplier Selection
- 15.2 Key Global Players
- 15.3 Key Regional Players
- 15.4 Key Player Strategies
- 15.5 Company Profiles
- 15.5.1 Furaka JSC
- 15.5.1.1 Company Overview
- 15.5.1.2 Product Portfolio
- 15.5.1.3 Demographic Reach and Achievements
- 15.5.1.4 Certifications
- 15.5.2 AA Corporation
- 15.5.2.1 Company Overview
- 15.5.2.2 Product Portfolio
- 15.5.2.3 Demographic Reach and Achievements
- 15.5.2.4 Certifications
- 15.5.3 The One Furniture
- 15.5.3.1 Company Overview
- 15.5.3.2 Product Portfolio
- 15.5.3.3 Demographic Reach and Achievements
- 15.5.3.4 Certifications
- 15.5.4 Ashley Furniture Industries, LLC
- 15.5.4.1 Company Overview
- 15.5.4.2 Product Portfolio
- 15.5.4.3 Demographic Reach and Achievements
- 15.5.4.4 Certifications
- 15.5.5 Minh Duong Furniture Corp.
- 15.5.5.1 Company Overview
- 15.5.5.2 Product Portfolio
- 15.5.5.3 Demographic Reach and Achievements
- 15.5.5.4 Certifications
- 15.5.6 Duc Thanh Wood Processing JSC
- 15.5.6.1 Company Overview
- 15.5.6.2 Product Portfolio
- 15.5.6.3 Demographic Reach and Achievements
- 15.5.6.4 Certifications
- 15.5.7 Xuan Hoa Company
- 15.5.7.1 Company Overview
- 15.5.7.2 Product Portfolio
- 15.5.7.3 Demographic Reach and Achievements
- 15.5.7.4 Certifications
- 15.5.8 Bristol Technologies Sdn Bhd
- 15.5.8.1 Company Overview
- 15.5.8.2 Product Portfolio
- 15.5.8.3 Demographic Reach and Achievements
- 15.5.8.4 Certifications
- 15.5.9 Vixfurniture Company Co. Ltd.
- 15.5.9.1 Company Overview
- 15.5.9.2 Product Portfolio
- 15.5.9.3 Demographic Reach and Achievements
- 15.5.9.4 Certifications
- 15.5.10 Zhejiang Sunon Furniture Manufacture Co., Ltd.
- 15.5.10.1 Company Overview
- 15.5.10.2 Product Portfolio
- 15.5.10.3 Demographic Reach and Achievements
- 15.5.10.4 Certifications
- 15.5.11 Others
Pricing
Currency Rates
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