Dublin, July 23, 2024 (GLOBE NEWSWIRE) -- The "Vietnam Furniture Industry Research Report 2024-2033" report has been added to ResearchAndMarkets.com's offering.
In 2023, the market size of the Vietnam furniture market reached USD 1.4 billion. Vietnam furniture market size is estimated at USD 2.56 billion in 2033 with a CAGR of 6.2% from 2024 to 2033.
Vietnam is a promising hub for furniture manufacturing thanks to its low tariffs, easy trade environment, convenient logistics and a wide range of materials. The growth of the Vietnamese furniture market is driven by a number of factors, including rising disposable income, increasing urbanization, and growing demand for furniture from export markets.
The market is also expected to benefit from government initiatives to promote the furniture industry. The major segments of the Vietnam furniture market are living room furniture, bedroom furniture, kitchen furniture, office furniture, and outdoor furniture.
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.
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 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?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 60 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value (USD) in 2024 | $1.49 Billion |
| Forecasted Market Value (USD) by 2033 | $2.56 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Vietnam |
Key Topics Covered:
1 Overview of Vietnam
1.1 Geographical situation
1.2 Demographic structure of Vietnam
1.3 The economic situation in Vietnam
1.4 Minimum Wage in Vietnam 2013-2022
1.5 Impact of COVID-19 on the furniture industry in Vietnam
2 Overview of Vietnam's furniture industry
2.1 History of Vietnamese architecture development
2.2 FDI in Vietnam's furniture sector
2.3 Policy environment of Vietnam's furniture industry
3 Vietnam furniture industry supply and demand situation
3.1 Vietnam furniture industry supply situation
3.2 Vietnam furniture industry demand situation
4 Vietnam furniture industry import and export status
4.1.1 Vietnam's furniture imports and import volume
4.1.2 Main import sources of Vietnamese furniture
4.2 Vietnam's furniture industry export status
4.2.1 Vietnam's furniture export volume and export value
4.2.2 Vietnam's main export destinations for furniture
5 Cost analysis of the furniture industry in Vietnam
5.1 Cost Analysis of Vietnam Furniture Industry
5.1.1 Labor costs
5.1.2 Cost of raw materials
5.1.3 Other costs
5.2 Price Analysis of Vietnam Furniture
6 Vietnam Furniture Industry Market Competition
6.1 Barriers to entry in Vietnam's furniture industry
6.1.1 Brand barriers
6.1.2 Quality Barriers
6.1.3 Capital Barriers
6.2 Competitive structure of Vietnam's furniture industry
6.2.1 Bargaining power of furniture suppliers
6.2.2 Consumer bargaining power
6.2.3 Competition in Vietnam's furniture industry
6.2.4 Potential entrants in the furniture industry
6.2.5 Alternatives to furniture
7. Analysis of Top 10 Furniture Brands in Vietnam, 2023
7.1 Nitori Furniture Vietnam EPE
7.2 Rochdale Spears Company
7.3 Kaiser 1 Furniture Industry (Vietnam) CO.,LTD
7.4 Le Hoang Minh Co., Ltd
7.5 ScanCom Vietnam Company Limited
7.6 Aa Tay Ninh Corporation
7.7 THE ONE FURNITURE T&M JSC
7.8 MOHO Furniture
7.9 Duc Thanh Wood Processing JSC
7.10 Tran Duc Furnishings
8 Vietnam Furniture Industry Outlook 2023-2032
8.1 Analysis of development factors in Vietnam's furniture industry
8.1.1 Drivers and Development Opportunities in Vietnam's Furniture Industry
8.1.2 Threats and challenges to the Vietnamese furniture industry
8.2 Vietnam Furniture Industry Supply Forecast
8.3 Vietnam Furniture Market Demand Forecast
8.4 Vietnam furniture industry import and export forecast
For more information about this report visit https://www.researchandmarkets.com/r/9gdg8f
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