Vietnam Office Furniture Market Report and Forecast 2024-2032

Vietnam Office Furniture Market Size

The Vietnam office furniture market is projected to grow at a CAGR of 7.8% in the forecast period of 2024-2032.

Vietnam Office Furniture Market Outlook

• The expanding office workspaces in Vietnam is contributing to the increased demand for furniture.

• In 2023, about 51.3 million people were considered employed in Vietnam.

• In 2023, furniture amounted to 82.9% of Vietnam’s total export turnover in wood and wood products.

Vietnam Office Furniture Market Growth

The Vietnam office furniture market is being driven by an increase in workforce and the rising focus on optimising office space in the country. In 2023, the labour force participation of men in Vietnam reached 75.2%, an increase of 0.3% from 2022. Among women, the participation in the labour force reached 62.9%, stating an increase of 0.4% from 2022. Office furniture is adopted in commercial and corporate spaces including meeting rooms, individual workstations, cafeterias, and lounges. Furthermore, the rising adoption of convenient and comfortable office furniture across the country is contributing to the country’s office furniture market growth.

Vietnam has the presence of a significant sourcing market of wooden products and furniture and is among the largest exporters globally. With an increasing inclination towards sustainably made and environmentally friendly products, wood office furniture is gaining traction. In 2023, wood furniture exports reached a value of about USD 8.4 billion.

Ho Chi Minh City is the central hub for economic activity in Vietnam, from which 20.2% of the national GDP and 27.9% of the country's industrial output come. Ho Chi Minh City is experiencing a greater demand for larger office spaces, further contributing to a demand for office furniture. It is estimated that 100,000 sqm of new Grade A office space is about to come online during the 2024–2027 period.

Vietnam Office Furniture Industry Segmentation

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

Market Breakup by Products

• Seating

• Modular System

• Desks and Tables

• Others

Market Breakup by Material

• Wood

• Metal 

• Plastics

• Others

Market Breakup by Sales Channel

• Online

• Offline

Market Breakup by Region

• Southeast

• Red River Delta

• Mekong River Delta

• South Central Coast

• Others

Vietnam Office Furniture Market Share

Based on sales channel, the market is divided into online and offline. Online channels are gaining traction supported by the added convenience offered, a significant number of furniture options and price points available for the purchase of furniture and other goods. The increasing internet and mobile penetration have further added to the rising popularity of online shopping in the country.

Leading Companies in the Vietnam Office Furniture Market

The market participants offer smart furniture at different price points and styles to enhance the comfort and productivity of employees, meeting the requirements of different office spaces.

• Furaka JSC

• AA Corporation

• The One Furniture

• Ashley Furniture Industries, LLC

• AN CUONG Wood Working Materials

• Rong Phuong Bac Trading Co., Ltd

• Xuan Hoa Company

• Bristol Technologies Sdn Bhd

• Vixfurniture Company Co. Ltd

• Zhejiang Sunon Furniture Manufacture Co., Ltd.

• Others

Key Highlights of the Report