Vietnam Kitchen Furniture Market Size
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.02 Billion |
| Market Size (2029) | USD 1.35 Billion |
| CAGR (2024 - 2029) | 5.67 % |
| Market Concentration | Low |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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Vietnam Kitchen Furniture Market Analysis
The Vietnam Kitchen Furniture Market size is estimated at USD 1.02 billion in 2024, and is expected to reach USD 1.35 billion by 2029, growing at a CAGR of 5.67% during the forecast period (2024-2029).
- The Vietnamese kitchen furniture market is anticipated to expand during the forecast period due to the country's growing urbanization and the construction of homes, apartments, and other structures. The kitchen furniture market in Vietnam is experiencing significant growth and development as the country's economy continues to thrive and living standards improve. There's an increasing demand for modern and functional kitchen furniture.
- Vietnamese consumers seek stylish and practical solutions to enhance their kitchen spaces. The market is also influenced by changing lifestyles and design trends, focusing on maximizing space, incorporating intelligent storage solutions, and utilizing durable materials. Government efforts to improve the quality of the nation's infrastructure through investing in housing projects, infrastructure construction, and tourism infrastructure nationwide. These efforts will help in the growth of the Vietnamese kitchen furniture market.
Vietnam Kitchen Furniture Market Trends
Investments in Residential Sector is Boosting the Kitchen Furniture Market
- The market's expansion is anticipated to be aided throughout the projected period by the government's initiatives to close the gap between supply and demand for reasonably priced homes in Vietnam. With the increasing urbanization and rising disposable incomes, people are investing in homes and apartments.
- This surge in residential construction and renovation projects has created a higher demand for kitchen furniture in Vietnam. In general, Vietnam's robust economic growth has raised income levels, which has boosted demand for upscale residential real estate. The market for kitchen furniture has also been stimulated by home kitchen renovations, particularly in densely populated cities like Hanoi and Ho Chi Minh City.
The Rise in Exports from Vietnam
- Vietnam's exports of wood and wooden goods have increased in recent years. The nation's rich forest resources, which offer a steady supply of raw materials, are a significant contributing element.
- Vietnam is a desirable location for wood processing and manufacturing due to its highly qualified workforce and affordable labor prices. The industry's expansion is also greatly aided by the government's policies and incentives.
- A large variety of kitchen furniture items, such as cabinets, tables, and chairs, can be produced by Vietnamese manufacturers. These goods help to expand the home market in addition to being exported to other nations. As a result, the kitchen furniture market in Vietnam has experienced a boost in terms of production, sales, and innovation.
Vietnam Kitchen Furniture Industry Overview
The Vietnam kitchen furniture market is fragmented with many players in the market. Few big firms currently dominate the Vietnam Kitchen Furniture market in terms of market share. On the other hand, mid-size and smaller businesses are expanding their market presence by gaining new contracts and entering new markets due to technical improvements and product developments. Some key players in the Vietnam Kitchen Furniture market are Vibuma, Pacific Craftworks, Ikea, Ixina, Star Marine Furniture Company Ltd, and Other prominent players.
Vietnam Kitchen Furniture Market Leaders
Vibuma
Pacific Craftworks
Ikea
Ixina
Star Marine Furniture Company Ltd
*Disclaimer: Major Players sorted in no particular order
Vietnam Kitchen Furniture Market News
- April 2023: Yoshimoto Sangyo Co., Ltd. and Vinh An Interior & Decor formalized a strategic partnership with the signing of an agreement in the Vietnamese capital of Hanoi. This marked Yoshimoto's official entry into the Vietnamese market.
- April 2022: Julius Blum, an Austrian furniture hardware manufacturer, inaugurated its second store in Vietnam. This new flagship store in Hanoi serves as a captivating hub for clients, designers, and architects, providing an inspiring space for exploration and creativity.
Vietnam Kitchen Furniture Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Disposable Income is Driving the Market
4.3 Market Restraints/ Challenges
4.3.1 Fluctuation in Raw Material Prices is Restraining the Market
4.4 Market Opportunities
4.4.1 Rising Popularity of Smart Homes and Integrated Technology
4.5 Value Chain/ Supply Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/ Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Consumer Buying Behaviour in Vietnam Kitchen Furniture Market
4.8 Insights on Technological Disruption in Vietnam Kitchen Furniture Market
4.9 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Furniture Type
5.1.1 Kitchen Cabinets
5.1.2 Kitchen Chairs
5.1.3 Kitchen Tables
5.1.4 Other Furniture Types
5.2 By Distribution Channel
5.2.1 Supermarkets and Hypermarkets
5.2.2 Specialty Stores
5.2.3 E-Commerce
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Vibuma
6.2.2 Pacific Craftworks
6.2.3 Ikea
6.2.4 Ixina
6.2.5 Star Marine Furniture Company Ltd
6.2.6 Cabinetry factory
6.2.7 Bsmart
6.2.8 Green River Door
6.2.9 Eagle Wood Vietnam
6.2.10 Vietnam Blue Lake Furniture*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER
Vietnam Kitchen Furniture Industry Segmentation
Kitchen furniture refers to the major furniture components found in a kitchen, such as sinks, countertops, cabinets, and so forth. It can, however, also apply to more modest furnishings like tables and chairs.
The Vietnam kitchen furniture market is segmented by furniture type, which includes kitchen cabinets, kitchen chairs, kitchen tables, and other furniture types, and by distribution channels, including supermarkets and hypermarkets, specialty stores, e-commerce, and other distribution channels.
The report offers market size and forecasts for the Vietnam kitchen furniture market in terms of revenue (USD) for all the above segments.
| By Furniture Type | |
| Kitchen Cabinets | |
| Kitchen Chairs | |
| Kitchen Tables | |
| Other Furniture Types |
| By Distribution Channel | |
| Supermarkets and Hypermarkets | |
| Specialty Stores | |
| E-Commerce | |
| Other Distribution Channels |
Vietnam Kitchen Furniture Market Research FAQs
How big is the Vietnam Kitchen Furniture Market?
The Vietnam Kitchen Furniture Market size is expected to reach USD 1.02 billion in 2024 and grow at a CAGR of 5.67% to reach USD 1.35 billion by 2029.
What is the current Vietnam Kitchen Furniture Market size?
In 2024, the Vietnam Kitchen Furniture Market size is expected to reach USD 1.02 billion.
Who are the key players in Vietnam Kitchen Furniture Market?
Vibuma, Pacific Craftworks, Ikea, Ixina and Star Marine Furniture Company Ltd are the major companies operating in the Vietnam Kitchen Furniture Market.
What years does this Vietnam Kitchen Furniture Market cover, and what was the market size in 2023?
In 2023, the Vietnam Kitchen Furniture Market size was estimated at USD 0.96 billion. The report covers the Vietnam Kitchen Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Vietnam Kitchen Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vietnam Kitchen Furniture Industry Report
Statistics for the 2024 Vietnam Kitchen Furniture market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Kitchen Furniture analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
