Vietnam Home Improvement Market: Trends, Growth, and Industry...

Vietnam Home Improvement Market: Trends, Growth, and Industry Insights (2025-2034)

Posted 2025-03-07 06:56:31

Vietnam Home Improvement Market Outlook

The Vietnam home improvement market size reached a value of approximately USD 3.07 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 3.4% between 2025 and 2034. By 2034, the market is expected to reach USD 4.17 billion. This growth is driven by a combination of factors, including rising urbanization, an increasing middle-class population, and growing consumer interest in home renovation and improvement. As the real estate sector continues to expand, there is a heightened demand for both interior and exterior home improvements. Moreover, the increasing awareness of energy-efficient solutions, coupled with the growing DIY (do-it-yourself) culture and the increasing popularity of professional home renovation services, is fueling the market’s expansion.

Vietnam Home Improvement Market Trends

Several key trends are influencing the Vietnam home improvement market:

Urbanization and Growing Middle Class: With continued urbanization and the rise of the middle class in Vietnam, there is an increasing demand for better living spaces. Consumers are focusing on home improvement as a way to enhance comfort, functionality, and aesthetic appeal. Urban areas are seeing more demand for modern home improvements, particularly in kitchen and bath renovations, as well as system upgrades.
Do-It-Yourself (DIY) Culture: The rise of DIY culture in Vietnam is driving growth in the home improvement market. As more consumers seek to personalize and upgrade their living spaces on a budget, DIY products, such as paints, wallpapers, and flooring solutions, are becoming increasingly popular. The availability of online tutorials, as well as easy access to tools and materials, is encouraging DIY home improvement projects.
Do-It-For-Me (DIFM) Services: While DIY projects are on the rise, a significant portion of consumers in Vietnam still prefer professional home improvement services (DIFM). As living standards improve and the demand for quality upgrades increases, more people are opting for professional services in areas such as kitchen renovations, bath remodeling, and system upgrades. Consumers are increasingly willing to invest in quality, long-lasting improvements.
Energy Efficiency and Sustainability: Homeowners in Vietnam are becoming more aware of the importance of sustainability and energy efficiency in home improvements. As a result, there is a growing demand for energy-efficient solutions, such as insulation materials, LED lighting, and environmentally friendly paints. The government’s focus on green building standards and incentives for energy-efficient homes is further driving the adoption of sustainable home improvement products.
Smart Home Integration: With the rise of smart home technologies, more consumers in Vietnam are integrating smart devices into their home improvement projects. This includes smart thermostats, lighting systems, security cameras, and home automation solutions. As the country becomes more technologically advanced, the demand for smart home upgrades is expected to rise.

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Vietnam Home Improvement Market Growth

The Vietnam home improvement market is poised for steady growth due to several contributing factors:

Growing Real Estate Sector: The booming real estate sector in Vietnam is driving the demand for home improvement products and services. With more people purchasing homes and investing in real estate, there is an increasing need for home renovations and improvements to enhance living spaces. This includes upgrades to kitchens, bathrooms, and living areas to meet modern design standards.
Rising Disposable Income: As disposable income rises in Vietnam, consumers are more willing to invest in home improvement to increase the value and functionality of their homes. The demand for premium and high-quality products is growing, especially in urban areas, where people are seeking luxury and convenience in their home renovations.
Government Incentives for Sustainable Living: The Vietnamese government is encouraging sustainable living through various policies and incentives. As a result, there is a growing demand for eco-friendly materials and energy-efficient home improvement solutions. This trend is driving growth in the market, especially in the areas of energy-efficient lighting, insulation, and water-saving solutions.
Increased Online Presence and E-Commerce: The rise of e-commerce in Vietnam is revolutionizing the home improvement market. More consumers are purchasing home improvement products online, attracted by the convenience, variety, and competitive pricing. This shift towards online shopping is making home improvement products more accessible to a broader audience, especially in rural areas.

Vietnam Home Improvement Market Segmentation

The Vietnam home improvement market is segmented by area, project type, application, and region. This segmentation provides insights into key demand drivers and areas of growth.

Breakup by Area

Rural: The rural segment of the market is growing as more rural residents invest in home improvement to enhance the quality of their living spaces. While the market is not as large as in urban areas, there is a noticeable increase in demand for affordable home improvement solutions, particularly in the form of DIY products. Homeowners in rural areas are looking for ways to improve their homes’ functionality and aesthetic appeal.
Urban: Urban areas are the key drivers of the home improvement market in Vietnam, with cities like Ho Chi Minh City and Hanoi leading the demand for high-end renovations. The growing middle class and the rising number of property owners in urban areas are fueling demand for kitchen and bath renovations, smart home integrations, and system upgrades. As urban living spaces become smaller, the need for space optimization and modern home improvements is increasing.

Breakup by Project Type

DIY (Do-It-Yourself): The DIY segment is growing, particularly in the rural areas where consumers tend to have lower labor costs and may prefer to carry out projects themselves. DIY home improvement products, such as paints, wallpapers, flooring, and basic tools, are in high demand as homeowners seek affordable ways to renovate their living spaces.
DIFM (Do-It-For-Me): The DIFM segment is also growing rapidly, particularly in urban areas, where consumers are more willing to pay for professional services. Professional services are in demand for kitchen renovations, bath remodeling, system upgrades, and large-scale interior replacements. Consumers prefer to hire contractors to ensure high-quality, long-lasting results for significant home improvement projects.

Breakup by Application

Kitchen Renovation and Additions: Kitchen renovations are one of the most popular home improvement applications in Vietnam. As the kitchen is a central part of home life, many homeowners invest in upgrading their kitchens with modern appliances, cabinets, and countertops. The increasing demand for open-plan kitchens and space-efficient designs is driving this segment’s growth.
Bath Renovation and Additions: The demand for bathroom renovations is increasing as homeowners seek to modernize their bathrooms with improved functionality and aesthetics. This includes the installation of new fixtures, bathtubs, showers, and energy-efficient plumbing systems.
Exterior Replacements: The demand for exterior home improvements, including roof replacements, siding, and windows, is growing due to the desire for enhanced curb appeal and better energy efficiency. Exterior upgrades are becoming more common as homeowners look to increase the value of their properties.
Interior Replacements: Interior replacements, including flooring, paint, and wall coverings, are driving growth in the home improvement market. These projects are often more affordable and easier to execute than major renovations, making them popular among homeowners.
System Upgrades: As homeowners focus on energy efficiency, there is increasing demand for system upgrades, such as HVAC, electrical, and plumbing systems. These upgrades are essential for improving home comfort and reducing long-term energy costs.
Others: Other applications include home automation systems, smart home installations, and energy-efficient lighting solutions. The increasing interest in smart home technologies is driving the demand for these products.

Breakup by Region

New South Wales: New South Wales is the largest market for home improvement in Vietnam, driven by the high population density and rapid urban development. The growing demand for both DIY and DIFM projects in urban centers like Hanoi is a key factor in the region’s market growth.
Victoria: Victoria’s strong demand for home improvement is driven by an increasing number of homeowners seeking to upgrade their properties. The rising middle class and growing interest in energy-efficient home improvements are contributing to the market’s expansion.
Queensland: Queensland is experiencing growth in the home improvement market, particularly in rural areas where DIY projects are popular. As more people invest in second homes and holiday properties, the demand for home improvement services is expected to rise.
Australian Capital Territory: The Australian Capital Territory, with its focus on government buildings and public infrastructure, is also seeing growth in the home improvement market. Homeowners are investing in modern renovations, particularly in energy-efficient solutions and smart home technologies.
Western Australia: Western Australia’s growing housing market is contributing to the demand for home improvement products and services. Homeowners are increasingly focusing on kitchen and bath renovations, as well as energy-efficient upgrades.
Others: Other regions, including South Australia and Tasmania, are also seeing steady growth in the home improvement market, driven by increasing consumer interest in both DIY and DIFM projects.

Vietnam Home Improvement Market Key Players

Kohler Co.: A leading provider of plumbing products, including faucets, sinks, and toilets, Kohler offers innovative solutions for kitchen and bath renovations.
3M Co.: Known for its high-performance materials, 3M offers a range of products for home improvement, including paints, adhesives, and flooring solutions.
Anderson Corp.: A major player in the home improvement market, Anderson specializes in windows, doors, and exterior replacements.
DuPont de Nemours, Inc.: DuPont provides advanced materials for home improvement applications, including energy-efficient insulation and flooring solutions.
Truong Thanh Furniture Corporation: Specializing in furniture manufacturing, Truong Thanh provides home furniture and fixtures for home improvement projects.
TTDECOR: A leading provider of decorative home improvement products, TTDECOR offers a wide range of solutions for residential and commercial spaces.
Kaze Vietnam Co., Ltd: Known for its range of home improvement products, Kaze Vietnam offers solutions for kitchen, bath, and interior renovations.