Vietnam Kitchen Furniture Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2024-2032)

Vietnam Kitchen Furniture Market Growth

The growth of the Vietnam kitchen furniture market is driven by increased retail sales due to high demand, especially in the metropolitan cities of Hanoi and Ho Chi Minh. With the popularity of modern retail formats, such as shopping malls, and furniture store outlets, consumers receive a wide variety of options to choose between different brands by comparing quality, durability, and cost-effectiveness. According to Vietnam’s General Statistics Office, the retail sale of goods and services in August 2024 grew by 7.9% year-on-year. This is expected to increase further during the forecast period and raise the retail sales volume for kitchen furniture through a ripple effect.

According to the Vietnam kitchen furniture market analysis, the rising disposable income of customers is increasing the demand for high-end, modern, and multifunctional furniture. Moreover, people are allocating a decent share of their income towards home improvement and renovation purposes, especially with custom designs and solutions meeting specific spatial needs. The General Statistics Office, in its Socio-Economic Report for the first quarter of 2024, estimated the average income of individuals to be around VND 7.6 million per month, an increase of VND 301,000 compared to the fourth quarter of 2023 and an increase of 549 thousand VND compared to the same period in 2023. As the income further rises, the demand for luxurious and tailored kitchen furniture is enhancing the overall growth potential of the market.

Key Trends and Recent Developments

The rising industrial production, growing real estate sector, use of sustainable materials, and an inclination towards Western design style are accelerating the Vietnam kitchen furniture market value.

September 2024

The VDAS Design Association in collaboration with the Samsung Bespoke brand organised the Vietnam Kitchen Design Award 2024. This attracted the attention of kitchen furniture enthusiasts, with more than 300 kitchen entries. Partners who accompanied the ceremony included Vicostone Stone Brand, Danish Furniture Brand BoConcept, Nha Xinh Furniture Brand, Korean Furniture Brand Jangin, and De La Sól by Sun Life Vietnam.

May 2022

Upholstered furniture manufacturer KUKA HOME completed the construction of a 775,000-square-foot dining and accent furniture factory in Vietnam. It was located 500 meters away from the company’s upholstery factory in Binh Phuoc. While the construction began in March 2021, a few selected stationary frames were added in September 2021. The new facility allowed KUKA HOME to expand the market of its products manufactured in Vietnam and grow the dining and accent chair category, a core part of its business for years.

April 2022

Austria-based furniture hardware company Julius Blum opened its second showroom in Vietnam in the capital city of Hanoi, to leverage the benefits of the huge consumer market of the city. Before this, the company had opened its first showroom in Ho Chi Minh City. Through these showrooms, Blum aimed at catering to the vast kitchen furniture manufacturing industry of the country, supplying custom hardware for the same.

June 2021

Clive Christian Furniture, the British manufacturer of luxury statement kitchen furniture announced the opening of its newest showroom – Clive Christian Furniture/Thang Long Luxury Showroom in Ho Chi Minh City, Vietnam. The showroom spanned over a substantial area of 10,764 square feet at the top of one of the city’s largest skyscrapers.

Rising Industrial Production Propelling the Growth of Vietnam Kitchen Furniture Market

The growing manufacturing sector in Vietnam is increasing the supply of kitchen furniture in the country. This is primarily due to the rapid industrialisation of key urban cities such as Hanoi and Ho Chi Minh. According to the General Statistics Office (Vietnam), the manufacturing sector grew with a positive trend in August 2024, with an estimated increase of 2% from the previous month and a year-on-year increase of 9.5%. Moreover, between January and August 2024, the year-on-year industrial production index increased by 8.6%.

Growing Real Estate Sector Creating Opportunities for Vietnam Kitchen Furniture Market Expansion

The real estate sector in Vietnam is witnessing sharp growth due to the rapid influx of foreign investment. According to the General Statistics Office, foreign investors poured a total of USD 2.4 billion into Vietnam’s real estate market between January and August 2024. A further increase in this investment will be seen in the coming years owing to new residential projects launched by market leaders. This is expected to propel the demand for premium quality, modern kitchen furniture in newly built residential buildings and apartments, creating new opportunities for Vietnam kitchen furniture market expansion.

Inclination Towards Western Designs Accelerating the Vietnam Kitchen Furniture Market Development

Increasing globalisation trends and the efficiency, modernity, as well as space-saving features of Western furniture, are leading to their increased preference in the kitchen furniture segment. Key market players, realising their market potential, are increasingly investing in their development eyeing future growth prospects. For instance, one of the most popular kitchen furniture suppliers in Vietnam, Vina Cabinetry, has been focusing on the development of American-style kitchen furniture with features such as a neutral colour palette, soft close hinges, pull-out shelves, and drawers, as well as factory finished exterior. They are known for their framed design, and use of affordable and lightweight materials such as wood fibre, resin, medium-density fibreboard, as well as waxes.

Vietnam Kitchen Furniture Market Trends

Integration of Smart Features Enhancing the Productivity of Kitchen Furniture Market in Vietnam

The incorporation of smart designs in kitchen furniture is boosting the overall productivity of the Vietnam kitchen furniture market. Leading players are introducing consumer-friendly features that focus on multi-functionality and space-saving solutions for enhanced convenience. Moreover, the integration of advanced technologies such as automation, motion sensors, and built-in lighting is elevating kitchen furniture to next-generation standards, offering a more seamless and efficient user experience. For instance, Smart Vietnam, a leading manufacturer of kitchen sinks, is popular for combining its products with the storage capabilities of a kitchen cabinet. The company offers a variety of products such as under-mount and farmhouse kitchen sinks with built-in undercabinet storage for kitchen supplies. Moreover, they come with additional accessories such as cutting boards, colanders, grids, drain baskets, and customised faucets to enhance cost-effectiveness and space-saving.

Vietnam Kitchen Furniture Industry Segmentation

“Vietnam Kitchen Furniture Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Furniture Type

• Kitchen Cabinets
• Kitchen Chairs
• Kitchen Tables
• Others

Market Breakup by End Use

• Residential
• Commercial

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Specialty Stores
• E-Commerce
• Others

Market Breakup by Region

• Southeast
• Red River Delta
• Mekong River Delta
• South Central Coast
• Others

Vietnam Kitchen Furniture Market Share

Introduction of Decorative Upholstery Driving the Popularity and Demand for Kitchen Chairs

Kitchen chairs are witnessing high demand growth in the Vietnam kitchen furniture market due to the introduction of branded upholstery, providing a decorative finish to these products. They enhance the overall user experience by offering comfort and aesthetic appeal, featuring varied design styles and fabric materials. For instance, upholstery manufacturer Nice Link Home Furnishings, which launched its 200,000 square feet dedicated production site in Vietnam in April 2024, introduced its Vietnamese upholstery line best suited for a wide range of stationery and motion furniture, including kitchen chairs, produced in Vietnam. Their growing popularity, coupled with an inclination towards custom styling and interior design, is resulting in increased sales of upholstered kitchen chairs, raising the overall revenue of Vietnam kitchen furniture market.

Besides, the entry of international brands is also increasing the sales of kitchen cabinets in Vietnam. For instance, American home office and home entertainment furniture brand, Martin Furniture, shifted its production site to Vietnam in December 2023 to expand its portfolio to dining room furniture in the country, including the production of decorative kitchen cabinets. These brands are bringing a wide range of high-end, innovative kitchen cabinet designs with them, often tailored to modern and space-efficient living.

Commercial Sector is Leading the Kitchen Furniture Demand Growth in Vietnam

As per the Vietnam kitchen furniture market analysis, the commercial sector is driving the demand for kitchen furniture in Vietnam owing to the emergence of new hotels and restaurant chains in the hospitality sector, particularly by national and international brands. These brands are looking forward to capitalising on the growing influx of travellers in the country, especially in highly urbanised locations such as Hanoi and Ho Chi Minh City. For instance, three major international brands have announced their entry into Vietnam with new hotels and restaurants in 2024. These include Europe’s oldest luxury brand, Kempinski Hotels, which is opening a riverside resort near the Saigon River, Florida-based Nobu Hospitality which is opening the Nobu Hotel and Restaurant in Ho Chi Minh City, and England-based IHG Hotels and Resorts which is opening Holiday Inn Resort in Halong city. All these commercial establishments will be opened by 2026, raising the demand for premium quality, professional kitchen setups, capable of operating at a large scale.

Additionally, the demand for new kitchen furniture is also being driven by emerging commercial housing projects in Vietnam. According to the Ministry of Construction, 22 new projects with 5,995 licensed units were sanctioned in the fourth quarter of 2022, with 466 projects with 228,029 units under construction and 28 projects with 3,258 units completed. This indicates a growing demand for new kitchen furniture to be installed in these commercial housing units, raising the overall Vietnam kitchen furniture market growth.

Rising E-commerce Sales are Increasing the Vietnam Kitchen Furniture Market Revenue

The growing popularity of e-commerce platforms, increasing penetration of the internet and smartphones, as well as the convenience of doorstep delivery have increased the online sales of kitchen furniture in Vietnam. The Ministry of Industry and Trade recently reported that Vietnam’s e-commerce market was valued at USD 13.7 billion in 2021, accounting for approximately 6.5% of the total retail revenue. This represented a growth of 16% since the previous year. The market was projected to grow at an annual rate of 30% between 2021 and 2025, leading to a further rise in online kitchen furniture sales.

Additionally, kitchen furniture sales are being fuelled by supermarkets established by the largest homegrown brands. They not only provide a one-stop shopping destination for kitchen furniture from several domestic and international market players but also introduce their private label products, offering affordable and discounted choices for customers. In a similar effort, AEON Vietnam Co., Ltd. officially established AEON Ta Quang Buu, its eighth General Merchandise Store (GMS) in HCM City in September 2024. The supermarket opened Home Coordy, its private label lifestyle brand featuring a diverse selection of furniture, including those for dining and kitchen applications. The store targeted the modern Gen Z and millennial population of the city purchasing or renting new apartments or looking to renovate their existing homes, thus supporting the Vietnam kitchen furniture market.

Vietnam Kitchen Furniture Market Regional Analysis

Southeast Vietnam Accounts for the Highest Kitchen Furniture Market Share in Vietnam

The Southeast region is witnessing significant demand for kitchen furniture owing to a sharp rise in the real estate sector. According to the Statistics Office of Ho Chi Minh City, one of the most urbanised and developed locations of Southeast Vietnam, real estate revenue reached VND 173 trillion between January and August 2024, a 6.1% growth since the last year. This indicates an increase in the number of newly constructed residential buildings and apartments in the city which is a driving factor for the regional kitchen furniture demand.

Competitive Landscape

Vietnam kitchen furniture market key players are expanding the scope of product usage from households to restaurants, hotels, offices, and cruises for additional revenue and brand recognition. Moreover, their increased focus on developing modern, quality, and luxury-grade items at economical rates is driving their stability and sustainable growth.

Vina Cabinetry

Vina Cabinetry is one of the largest kitchen cabinetry manufacturing companies in Vietnam, established most recently in 2019. It specialises in western-style kitchen cabinets and offers custom designs to suit the needs of customers. The company has an overall production area of 300,000 square feet, equipped with advanced woodworking machinery and technologies. Moreover, all its raw materials are 100% locally sourced from Vietnam wood suppliers.

Hangzhou Panaisa Sanitary Ware Co., Ltd.

Hangzhou Panaisa Sanitary Ware Co., Ltd. is a leading producer of kitchen sanitary ware headquartered in Tonglu, Zhejiang Province of Vietnam. The company was established in 2002, and since then has established 3 large production facilities in the country. Its latest production base started operating in April 2021 and spanned over an area of 66,000 square meters. The company’s featured products include finished faucets, water hoses, drain assemblies, and kitchen cabinets.

POGGENPOHL Vietnam

POGGENPOHL, one of the oldest kitchen furniture brands in the world, was established in 1892 in Germany. It has since then expanded its business to more than 70 countries. In Vietnam, POGGENPOHL started distributing its products with the establishment of its subsidiary, European Designs Solutions Co. Ltd. in 2017. The brand is known throughout the country for custom designs and high-quality builds of kitchen furniture, their supply as well as installation services, positively impacting the Vietnam kitchen furniture market. The featured products include kitchen cabinets, kitchen islands, dining tables, dining chairs, and so on.

AA Corp. (AA Long An)

AA Corp. is a leading interior design and furniture solutions brand established in 1989 in Ho Chi Minh City, Vietnam. The company’s mission is to turn Vietnam into the world’s largest furniture centre. Moreover, it is known for developing luxury furniture at economical prices without compromising on quality standards and customer satisfaction. Overall, the brand has implemented more than 132 projects in Vietnam, establishing its footprint in a range of products, including kitchen furniture for households, offices, cruises, restaurants, and hotels.

Other key players considered in the Vietnam kitchen furniture market report are Truong Thang Co., Ltd., ALC Corp. (Casta), and Keico, among others.