Vietnam DIY Home Improvement Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

Vietnam DIY Home Improvement Market is poised to grow at a CAGR of more than 5% during the forecast period.

DIY home improvement refers to decorating or building small structures that give an enhanced look to an existing home. It includes improvements to lawns, gardens, and outdoor structures, such as gazebos and garages. It usually includes renovations in comfort, maintenance, repair, general servicing tasks, additional space, saving energy, and safety.

The industry for do-it-yourself (DIY) home improvement retailing observed notable growth during the COVID-19 pandemic. People in developed and developing countries invested their time in completing home improvement projects due to lockdowns and social restrictions during the pandemic.

The majority of people in Vietnam took up gardening as a DIY home improvement project to enhance their living spaces and stay occupied during the lockdown. DIY home improvement products used in building maintenance, plumbing, and other home improvement purposes are considered the target products in the market.

Vietnam DIY Home Improvement Market Trends

Increasing Focus on Online Retailing of DIY Products is Driving the Market in Vietnam

Factors such as an increasing number of DIY stores and the easy availability of DIY equipment, appliances, and tools online may contribute toward the growth of the segment in Vietnam. Various industry giants are actively investing in R&D activities with an intent to increase product assortment and innovation by adding value to their products. The presence of necessary skills in consumers for carrying out home improvement work is among the key factors propelling the market's growth. Manufacturers offer smart home improvement kits to assist DIY consumers. The presence of large manufacturers and retailers also boosted the number of DIY projects across the country.

Increasing Urbanization is Driving the Market

Steady urbanization and increasing disposable incomes in Vietnam are propelling the DIY home improvement market. Growing housing prices in populated cities due to rapid urbanization may also fuel the DIY home improvement market during the forecast period. This increase in the prices of home improvement may drive people to work on small improvement projects, such as gardening and plumbing, on their own. The steady rise in urbanization and the increasing penetration of e-commerce channels offering huge discounts may further contribute significantly toward the expansion of the DIY home improvement market in Vietnam.

Vietnam DIY Home Improvement Market Competitor Analysis

The report covers the major international players operating in the Vietnamese DIY home improvement market. These players are leading the market in terms of market share. On the other hand, mid-size and smaller businesses are expanding their market presence by acquiring new contracts and entering new markets as a result of technological improvements and product innovations. The major players in the market are Andersen Corporation, 3M Vietnam Co. Ltd, Rockwool, Kohler, and DuPont Building Innovations.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support