Vietnam Furniture Market to Reach USD 13.14 Billion by 2030, Driven by Strong Exports and Growing Middle-Class Demand

Mordor Intelligence has published a new report on the "Vietnam Furniture Market" offering a comprehensive analysis of trends, growth drivers, and future projections

Introduction

Vietnam's furniture market is on a solid growth trajectory, estimated at USD 9.62 billion in 2025 and projected to reach USD 13.14 billion by 2030, registering a CAGR of 6.43% during 2025-2030. The sector has become a strategic pillar of Vietnam's manufacturing economy, driven by its large wood processing base, competitive labor costs, and rising domestic consumption. As global supply chains diversify, Vietnam's role as a key furniture exporter and a growing local consumer market continues to strengthen.

Report Overview: https://www.mordorintelligence.com/industry-reports/vietnam-furniture-market?utm_source=openpr

Key Trends

Expansion of Manufacturing Capacity

Vietnam has emerged as one of the largest furniture exporters in Asia, benefitting from substantial foreign direct investment in wood processing and furniture production. The China +1 strategy has led global manufacturers to set up operations in Vietnam to mitigate risks, improve supply chain resilience, and take advantage of lower production costs.

Rising Domestic Consumption

The country's expanding middle class is creating significant domestic demand for furniture, especially mid-range and premium products. Consumers are increasingly choosing furniture with modern designs, quality finishes, and durable materials. This trend is prominent in urban centers like Ho Chi Minh City and Hanoi, where demand for apartment and home furnishings is growing alongside rapid urban development.

Growth in Hospitality and Tourism Sector

The hospitality sector is a key driver, with hotels, resorts, and serviced apartments demanding high volumes of quality furniture. The hospitality furniture segment is expected to grow at a CAGR of 7.35% from 2025 to 2030. Vietnam's booming tourism industry, combined with rising foreign investment in hospitality infrastructure, has led to increased orders for locally manufactured furniture.

Strong Export Market Backed by Trade Agreements

Vietnam's furniture exports have grown due to favorable trade agreements such as the EVFTA and RCEP, which have reduced tariffs and expanded market access to Europe and Asia-Pacific. Exports account for a significant share of production, making the country a vital supply base for international buyers seeking cost-effective and high-quality furniture products.

Rapid Expansion of Retail and E-commerce Channels

The retail and e-commerce distribution channels are expanding rapidly. The B2C retail segment accounted for around 72% of total sales in 2024 and is projected to continue its strong growth. Consumers are increasingly buying furniture from online platforms and specialized retail stores offering modern shopping experiences, virtual showrooms, and home delivery with assembly services.


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Market Segmentation

By Application

Home Furniture - Largest segment with around 61% share in 2024, covering living room, bedroom, kitchen, and dining furniture.

Office Furniture - Stable demand from commercial and enterprise office expansions.

Hospitality Furniture - Fastest growing segment with a projected CAGR of 7.35%.

By Material

Wood - Dominates the market with approximately 70% share, supported by Vietnam's large wood processing industry.

Plastic & Polymer - Gaining traction with a CAGR of 7.9%, particularly for outdoor and low-cost furniture.

Metal and Others - Used in specialized designs and export-oriented products.

By Price Range

Economy - Value-focused products with mass market appeal.

Mid-Range - Largest category, accounting for around 47% of market value in 2024, preferred by the growing middle-class segment.

Premium - Growing at a CAGR of 6.82%, targeting high-income consumers and luxury hospitality projects.

By Distribution Channel

Retail (B2C) - Dominates the market with 72% share, supported by physical stores and e-commerce.

Project (B2B) - Includes institutional sales for offices, hotels, and government contracts.

By Geography

Southern Vietnam - The leading region, with nearly 48% market share in 2024, driven by industrial clusters in Ho Chi Minh City, Binh Duong, and Dong Nai.

Northern and Central Vietnam - Gaining importance with growth in residential and commercial projects.

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Key Players

AA Corporation - A major furniture manufacturer with a strong presence in hospitality and premium residential projects.

Truong Thanh Furniture Corporation (TTF) - One of Vietnam's largest wood furniture producers, known for export and domestic markets.

Duc Thanh Wood Processing JSC - Focuses on high-quality wood products for both local consumption and export.

Minh Duong Furniture Corporation - Specializes in indoor wooden furniture and supplies to major international buyers.

Scansia Pacific Co. Ltd. - A leading exporter of wooden furniture, supplying to markets in Europe, the US, and Asia-Pacific.

These companies compete on quality, cost, and product diversification. Investments in sustainable wood sourcing, product design, and digital distribution are shaping their growth strategies to cater to both domestic and global markets.

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Conclusion

Vietnam's furniture market is set for continued growth through 2030, underpinned by rising export opportunities, an expanding middle class, and increased investments in production capabilities. The synergy between global supply chain shifts, urbanization, and hospitality infrastructure development will keep demand strong across all segments. Key players are focusing on improving quality standards, expanding product lines, and leveraging digital channels to maintain their competitive edge.

With stable growth prospects and its established manufacturing ecosystem, Vietnam is poised to remain a significant force in the global furniture industry, attracting investors, buyers, and partners looking for cost-efficient, reliable, and quality furniture solutions.

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Industry Related Reports

China Furniture Market: The China Furniture Market Report is Segmented by Application (Home Furniture, Office Furniture, Hospitality Furniture, and More), Material (Wood, Metal, Plastic & Polymer, and Other Materials), Price Range (Economy, Mid-Range, and Premium), Distribution Channel (B2C/Retail, and B2B /Project), and Geography (East China, South-Central China, North China, and More).

Get more insights: https://www.mordorintelligence.com/industry-reports/china-furniture-market?utm_source=openpr

Europe Furniture Market: The Europe Furniture Market Report is Segmented by Application (Home Furniture, Office Furniture, Hospitality Furniture, and More), Material (Wood Furniture, Metal Furniture, and More), Price Range (Economy, Mid-Range, and Premium), Distribution Channel (B2C/Retail, and B2B /Project), and Geography (United Kingdom, Germany, France, Italy and More).

Get more insights: https://www.mordorintelligence.com/industry-reports/europe-furniture-market?utm_source=openpr

India Furniture Market: The India Furniture Market Report is Segmented by Application (Home Furniture, Office Furniture, Hospitality Furniture, Educational Furniture, and More), Material (Wood, Metal, and More), Price Range (Economy, Mid-Range, Premium), Distribution Channel (B2C/Retail, and B2B/Project), and Geography (North India, West India, South India, East India).

Get more insights: https://www.mordorintelligence.com/industry-reports/india-furniture-market?utm_source=openpr

Plastic Furniture Market: The Plastic Furniture Market is Segmented by Product (Chairs, Tables, Stools, Cabinets, Sofas, Shelves, and More), by End User (Residential, and Commercial), by Price Range (Economy, Mid-Range, and Premium), by Distribution Channel (B2C/Retail, and B2B/Project), and Geography (North America, Europe, Asia-Pacific, South America, Middle-East and Africa).

Get more insights: https://www.mordorintelligence.com/industry-reports/plastic-furniture-market?utm_source=openpr

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