Market Size of Vietnam DIY Home Improvement Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | 5.00 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Vietnam DIY Home Improvement Market Analysis
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 Industry Segmentation
DIY refers to building, modifying, or repairing things without the direct aid of experts or professionals. The report covers a complete background analysis of the Vietnamese DIY home improvement market, including an assessment of the economy, the emerging market trends by segments, a market overview, significant changes in market dynamics, and the competitive landscape.
The Vietnamese DIY home improvement market is segmented by product type (lumber and landscape management, décor and indoor garden, kitchen, painting and wallpaper, tools and hardware, building materials, lighting, plumbing and equipment, flooring, repair and replacement, and electrical work) and distribution channel (DIY home improvement stores, specialty stores, online, and other physical stores). The market sizes and forecasts for the above segments are provided in value (USD million) terms.
By Type | |
Lumber and Landscape Management | |
Décor and Indoor Garden | |
Kitchen | |
Painting and Wallpaper | |
Tools and Hardware | |
Building Materials | |
Lighting | |
Plumbing and Equipment | |
Flooring, Repair, and Replacement | |
Electrical Work |
By Distribution Channel | |
DIY Home Improvement Stores | |
Specialty Stores | |
Online | |
Other Physical Stores |
Vietnam DIY Home Improvement Market Size Summary
The Vietnam DIY home improvement market is experiencing significant growth, driven by a combination of urbanization, increasing disposable incomes, and the rising popularity of DIY projects. This sector encompasses a wide range of activities, including gardening, home maintenance, and the enhancement of outdoor spaces, which have gained traction particularly during the COVID-19 pandemic. The availability of DIY products and tools, coupled with the convenience of online shopping, has made it easier for consumers to undertake home improvement projects. The market is further bolstered by the presence of skilled consumers and the introduction of smart home improvement kits by manufacturers, which add value and innovation to the offerings.
The market landscape is characterized by the presence of major international players such as Andersen Corporation, 3M Vietnam Co. Ltd, Rockwool, Kohler, and DuPont Building Innovations, who dominate in terms of market share. These companies are actively investing in research and development to expand their product range and enhance their market presence. Meanwhile, mid-size and smaller businesses are leveraging technological advancements and product innovations to capture new contracts and enter emerging markets. The expansion of DIY stores, such as the recent opening of Kohnan Japan's store in Hanoi, and collaborations with local companies further illustrate the dynamic nature of the market. As housing prices continue to rise in urban areas, more consumers are likely to engage in DIY projects, contributing to the market's sustained growth during the forecast period.
Vietnam DIY Home Improvement Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.3 Market Restraints
-
1.4 Value Chain/Supply Chain Analysis
-
1.5 Porter's Five Forces Analysis
-
1.6 Impact of COVID-19 on the Market
-
-
2. MARKET SEGMENTATION
-
2.1 By Type
-
2.1.1 Lumber and Landscape Management
-
2.1.2 Décor and Indoor Garden
-
2.1.3 Kitchen
-
2.1.4 Painting and Wallpaper
-
2.1.5 Tools and Hardware
-
2.1.6 Building Materials
-
2.1.7 Lighting
-
2.1.8 Plumbing and Equipment
-
2.1.9 Flooring, Repair, and Replacement
-
2.1.10 Electrical Work
-
-
2.2 By Distribution Channel
-
2.2.1 DIY Home Improvement Stores
-
2.2.2 Specialty Stores
-
2.2.3 Online
-
2.2.4 Other Physical Stores
-
-
Vietnam DIY Home Improvement Market Size FAQs
What is the current Vietnam DIY Home Improvement Market size?
The Vietnam DIY Home Improvement Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Vietnam DIY Home Improvement Market?
Andersen Corporation, 3M Vietnam Co. Ltd, Rockwool, Kohler and DuPont Building Innovations are the major companies operating in the Vietnam DIY Home Improvement Market.