Vietnam wooden furniture market has grown rapidly over the years, becoming one of the world’s leading exporters of wooden furniture. This expansion has been driven by the availability of abundant natural resources, skilled labor, and competitive production costs. Vietnam is known for producing a wide range of wooden furniture products, including indoor and outdoor furniture, made from high-quality wood materials such as acacia, rubberwood, and eucalyptus. In this article, we will learn more about the Wooden Furniture Market in the country.
Vietnam Wooden Furniture Market At A Glance
Among processed wood products aimed at consumers, furniture holds a significant role, encompassing a wide range of items like beds, shelves, cupboards, and seats, which are used in various sectors such as residential, commercial, educational, healthcare, and hospitality. Furniture is found in spaces like kitchens, bedrooms, offices, hotels, factories, as well as in transport, tools, and fittings.
Vietnam’s wood industry offers a wide range of furniture for various living spaces
Globally, furniture production has shifted from developed nations to the Asia-Pacific region, particularly to China and Vietnam. Vietnam’s wood product industry is considered highly competitive on the global stage. The sector saw gradual development in the 1990s and experienced rapid growth in the 2000s. According to the General Statistics Office’s Statistical 2020, there were 5,338 furniture companies in Vietnam in 2019.
Wooden Furniture Production in Vietnam
Vietnam currently has three major wooden furniture production hubs: the Northern Red River Delta region, the Southeast region, and the South Central region (Binh Dinh province). Ho Chi Minh City, along with the nearby southern provinces of Binh Duong, Dong Nai, and Binh Dinh, is home to 56% of the country’s enterprises, including 70% of Vietnam’s 600 largest furniture manufacturers. The industry is also expanding, with new factories opening in other southern provinces like Tay Ninh, Binh Phuoc, and Long An.
In the past decade, Vietnam has made significant progress in the global furniture supply chain, ranking as the world’s sixth-largest furniture manufacturer in 2023. The country has experienced “impressive growth,” climbing from 13th place in 2014 to 6th in 2023 based on value, published by CSIL (Center for Industrial Studies).
Vietnam wooden furniture experienced rapid growth these years. Source: vneconomy.com
Vietnam Wooden Furniture Export
Vietnamese wooden furniture manufacturers are capable of producing outdoor table and chair sets in a variety of designs. These products are crafted to provide maximum comfort, offering an ideal experience for outdoor relaxation.
Top export destinations of Viet Nam in 2021 is as follows; United States, Japan, United Kingdom, Canada, Korea Republic, Australia, and China. The country exports over 90% of its furniture to these markets. While the United States is the largest buyer, accounting for 75.8% of Vietnam’s furniture exports, Vietnam’s share of the U.S. furniture import market is only 18%, according to WTO Center. This indicates significant potential for further market expansion in the U.S. Additionally, Vietnam has a strong presence in regional markets, including Japan, South Korea, and China.
Top export destination of Vietnam wooden furniture (HS 9403) in 2021. Source: WTO Center
Common Wood-based Products in Vietnam
Vietnam’s wood industry offers a wide range of furniture for various living spaces within homes or buildings, including bedrooms, kitchens, and offices. The country has a solid presence in the production of upholstered seating, framed seating, and bedroom furniture.
Wood-based seating items are the group with highest export value to the United States market
Seating items are the group with the highest export value to the US market. Each year, there are about 380 enterprises directly involved in exporting sofas to the US, including complete sofa products and sofa parts.
Currently, there is a growing demand for ready-to-assemble/flat-packed furniture made from wood-based panels. Shifting away from traditional structural rigidity, the popularity of furniture designed with the ready-to-assemble (RTA) concept is rising, particularly among younger consumers from the Y and Z generations.
Ready-to-assemble (RTA) furniture, also called knock-down (KD), flat-pack, or kit furniture, requires customers to assemble the pieces themselves. Vietnam’s furniture industry is capable of supplying furniture in this format, including items like sink base cabinets, vanity or microwave cabinets for kitchens, drawer base cabinets, and storage cabinets for bedrooms, among others. Kitchen cabinet (code 94034000) are one of the important groups of items exported to the US from Vietnam.
Vietnam wood-based cabinets are favored by international markets. Source: Viego Global JSC
Viego Global – Your trusted sourcing partner in Vietnam
Given that Vietnam has big wooden furniture manufacturers, it is not easy to find a trustworthy furniture supplier to work with, however. Let’s answer the questions below before conducting your sourcing:
- Are you going to import wooden furniture from Vietnam?
- Are you finding a Vietnamese trusted wooden supplier for different types of furniture?
- Are you finding Vietnamese wooden furniture source of supply with high quality and competitive price?
If your answer is yes for all, please feel free to contact us at Whatsapp line +84 56 264 6315 or email hello@viegoglobal.com.
Being present at the economic centre of Vietnam, Viego Global can greatly help you professionally source and execute order, providing maximum benefits to our clients in terms of delivering a wide range of products at the best competitive pricing. Please contact us HERE for further support about Vietnam Wooden Furniture Market!