Market Trends of Vietnam Home Furniture Industry
Growing Urbanization is Propelling the Market Growth
The home furniture market is set to experience continuous growth as consumer demand for high-quality furnishings that cater to a variety of preferences and aesthetic values increases. There is a growing popularity for furniture that enhances comfort levels, driven by urbanization trends. Multi-purpose furniture pieces such as sofa beds, hydraulic beds, foldable tables, and storage beds are in high demand as homebuyers seek to maximize living spaces. This change in consumer behavior, particularly in urban areas, is expected to fuel the expansion of the home furniture market. Additionally, the trend of theme-based home decor and frequent home renovations is prevalent among middle and upper-middle-class consumers in urban areas, who prioritize style, comfort, and functionality when choosing furniture for their homes.
Rise in Sales of Bedroom Furniture is having a Positive Impact on Market Growth
Bedroom furniture comprises of cozy beds combined with matching bedside tables, drawers, and wardrobes, creating a peaceful haven that caters to the needs of individuals. Traditional homes have been transformed into luxurious modern dwellings due to the increase in disposable income and the adoption of modern lifestyle trends. The growing preference for airy, trendy, and comfortable walk-in closets or standalone wardrobes has become a crucial aspect in designing modern bedroom spaces. The increasing popularity of space-saving fixtures has led to a shift towards closet drawers, replacing traditional bedroom dressers and consequently freeing up more space in the bedroom. This trend is expected to drive the demand for wardrobes and storage furniture in the foreseeable future.
