The Golden Development Period of The Houseware Industry in Vietnam

Vietnam is a hot spot for the rapid development of the Asia-Pacific consumer goods market. This market full of vitality and potential is ushering in the golden development period of the houseware industry.

Vietnam has a population of nearly 100 million, including 33 million middle-class people, which is expected to exceed 56 million by 2030. With the steady development of the economy and the rise of the middle class, Vietnamese consumers have a strong demand for the improvement of their houseware products.

In 2022, Vietnam's GDP grew by 8.02%, taking a leading position in the world. Market consumption continues to grow rapidly, and the total trade value has reached US$750 billion. In the same year, Vietnam's total retail sales of consumer goods and services increased by 19.8%. Domestic demand growth far exceeded external demand and shows strong consumption potential. Vietnam's houseware products market development index has an annual growth rate of about 10%, and its consumption growth rate ranks among the top among the ten ASEAN countries.

Vietnamese consumers are paying more and more attention to brand, environmental protection, quality and design when choosing houseware products. They are willing to pay higher prices for high-quality, distinctive houseware products. With the advancement of urbanization in Vietnam, the household products market continues to expand, bringing huge business opportunities to the houseware industry.