Vietnam’s furniture market is projected to grow from US$9.62 billion in 2025 to US$13.14 billion by 2030, recording a robust CAGR of 6.43 percent, according to a report from Mordor Intelligence→view source.

Key details:

Growth is driven by strong foreign direct investment inflows, especially as firms shift capacity from China, with US$520 million in new wood sector FDI in 2024 across 61 projects.
Vietnam’s rising urban middle class, expected to expand by 23.2 million people by 2030, is fueling demand for design-focused and sustainable furniture.
Preferential trade agreements like EVFTA and RCEP have cut tariffs, boosting export competitiveness; wooden furniture exports to the UK are set to reach US$230 million in 2024.
Hospitality construction is accelerating demand, with Marriott and IHG expanding aggressively, pushing local suppliers to innovate with brand-aligned and modular designs.
Imported timber and container costs are squeezing margins, while US anti-dumping audits add compliance costs, pushing some firms to pivot exports toward EU markets.
By application, home furniture holds 61 percent of market share in 2024, while hospitality furniture is forecast to grow fastest at 7.35 percent CAGR to 2030.
Wood remains dominant at 70 percent market share in 2024, but plastic and polymer furniture are projected to grow at 7.9 percent CAGR.
Mid-range furniture leads with 47 percent market share in 2024; premium furniture is expected to grow at 6.82 percent CAGR.
B2C/retail channels dominate with 72 percent share in 2024 and are forecast to grow at 8.3 percent CAGR, driven by e-commerce, virtual showrooms, and last-mile delivery innovations.
The Southeast region, including Ho Chi Minh City and Binh Duong, accounts for 48 percent of the market, benefiting from strong industrial clusters and affluent urban consumers.

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