Market Size of Vietnam Kitchen Furniture Industry
| 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 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 Size Summary
The Vietnam kitchen furniture market is poised for significant growth over the forecast period, driven by urbanization and the construction of residential spaces such as homes and apartments. As the Vietnamese economy continues to thrive, there is a rising demand for modern and functional kitchen furniture that meets the evolving lifestyle and design preferences of consumers. This demand is further fueled by government initiatives aimed at enhancing infrastructure and housing quality, which in turn supports the market's expansion. The focus on maximizing space and incorporating intelligent storage solutions, along with the use of durable materials, reflects the changing consumer preferences in urban areas. The market's growth is also supported by the increasing disposable incomes and the trend of home renovations, particularly in major cities like Hanoi and Ho Chi Minh City.
Vietnam's kitchen furniture market benefits from the country's rich forest resources, providing a steady supply of raw materials for wood and wooden goods, which are crucial for the industry. The availability of a skilled workforce and competitive labor costs make Vietnam an attractive location for wood processing and manufacturing. Government policies and incentives further bolster the industry's growth, enabling the production of a wide variety of kitchen furniture items for both domestic and international markets. The market is characterized by fragmentation, with several players, including major firms and smaller businesses, competing for market share. Strategic partnerships and expansions by key players, such as Yoshimoto Sangyo Co., Ltd. and Julius Blum, highlight the dynamic nature of the market, contributing to its production, sales, and innovation.
Vietnam Kitchen Furniture Market Size - Table of Contents
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1. MARKET INSIGHTS AND DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rise in Disposable Income is Driving the Market
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1.3 Market Restraints/ Challenges
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1.3.1 Fluctuation in Raw Material Prices is Restraining the Market
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1.4 Market Opportunities
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1.4.1 Rising Popularity of Smart Homes and Integrated Technology
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1.5 Value Chain/ Supply Chain Analysis
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1.6 Porter's Five Forces Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers/ Consumers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitute Products
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1.6.5 Intensity of Competitive Rivalry
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1.7 Insights on Consumer Buying Behaviour in Vietnam Kitchen Furniture Market
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1.8 Insights on Technological Disruption in Vietnam Kitchen Furniture Market
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1.9 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Furniture Type
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2.1.1 Kitchen Cabinets
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2.1.2 Kitchen Chairs
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2.1.3 Kitchen Tables
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2.1.4 Other Furniture Types
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2.2 By Distribution Channel
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2.2.1 Supermarkets and Hypermarkets
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2.2.2 Specialty Stores
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2.2.3 E-Commerce
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2.2.4 Other Distribution Channels
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Vietnam Kitchen Furniture Market Size 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.
