In 2023, the market size of the Vietnam furniture market reached USD 1.4 billion. According to the publisher's analysis, the Vietnam furniture market size is estimated at USD 2.56 billion in 2033 with a CAGR of 6.2% from 2024 to 2033.
The furniture market in Vietnam has been growing steadily in recent years. The export volume of Vietnamese furniture has been increasing, surpassing countries such as Germany and Poland. The country has become the second largest furniture exporter and the sixth largest furniture producer, according to an industry association. According to the publisher's , Vietnamese furniture is exported to more than 120 countries, with the United States, the United Kingdom, Canada, Australia, and Japan being the main markets. Exports have been the main driver of the country's furniture industry, growing from $5 billion to nearly $20 billion over the past decade.
According to the publisher, it can be seen that the potential of furniture industry in Vietnam is abundant. Among them, bedroom furniture leads the market. This category includes a range of items such as beds, bedside tables, chests of drawers, wall shelves, and children's beds, among others. The driving force behind the robust market growth is the nation's improved standard of living, which has resulted in a significant increase in demand for quality bedroom furniture. Another growing trend driving the market is the export of wood products. The United States is the top export destination for Vietnamese wood products. In addition, China is another important export market for Vietnamese wood and wood furniture.
The publisher expects the export value of Vietnamese furniture products to grow rapidly from 2024 to 2033 as a large number of furniture manufacturers relocate to Vietnam, with the Vietnamese furniture industry upgrading both products and technology.
Topics covered:
- Vietnam Furniture Industry Overview
- The economic and policy environment of Vietnam's furniture industry
- Vietnam Furniture Industry Market Size, 2024-2033
- Analysis of the main Vietnam furniture production enterprises
- Key drivers and market opportunities for Vietnam's furniture industry
- What are the key drivers, challenges and opportunities for Vietnam's furniture industry during the forecast period 2024-2033?
- Which companies are the key players in the Vietnam furniture industry market and what are their competitive advantages?
- What is the expected revenue of Vietnam furniture industry market during the forecast period 2024-2033?
- What are the strategies adopted by the key players in the market to increase their market share in the industry?
- Which segment of the Vietnam furniture industry market is expected to dominate the market by 2032?
- What are the main negative factors facing the furniture industry in Vietnam?
Table of Contents
Companies Mentioned
- Nitori Furniture Vietnam EPE
- Rochdale Spears Company
- Kaiser 1 Furniture Industry (Vietnam) CO.，LTD
- Le Hoang Minh Co.， Ltd
- ScanCom Vietnam Company Limited
- Aa Tay Ninh Corporation
- THE ONE FURNITURE T&M JSC
- MOHO Furniture
- Duc Thanh Wood Processing JSC
- Tran Duc Furnishings
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 60 |
| Published | February 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 1.49 Billion |
| Forecasted Market Value ( USD | $ 2.56 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 10 |
