Vietnam DIY Home Improvement Market

Market Overview:

Vietnam DIY home improvement market is projected to exhibit a growth rate (CAGR) of 4.68% during 2024-2032. Flourishing expansion of the real estate sector, the rising inclination toward cost-effectiveness and personalization, access to information and tutorials, inflating disposable incomes, and the influence of social media platforms and online forums represent some of the key factors driving the market.

The do-it-yourself (DIY) home improvement refers to an array of products and services aimed at enabling consumers to undertake various home improvement tasks, such as renovation, repair, or enhancement projects in homes without the professional assistance of contractors or tradespeople. These range from simple tools for minor repairs to more advanced equipment for major refurbishments, such as paints, electrical fittings, and building materials for various tasks, from small-scale cosmetic changes like painting walls or assembling furniture to more complex undertakings such as installing new fixtures, laying flooring, or remodeling entire rooms. DIY home improvement helps save money on labor costs, the satisfaction of completing tasks independently, and the opportunity to personalize and customize one’s living space according to personal preferences and needs. DIY enthusiasts often rely on instructional guides, online tutorials, and home improvement stores for guidance and supplies.

Vietnam DIY Home Improvement Market Trends:

One of the key drivers impelling the market is the burgeoning expansion of the real estate sector in Vietnam, marked by an increase in new residential constructions and renovations, creating a growing demand for home improvement products and services. Besides this, the inflating disposable incomes of individuals have empowered an increasing number of consumers to invest in improving their living spaces, thereby driving the market growth. Moreover, the expanding influence of social media platforms and online forums, offering numerous DIY tutorials and tips and inspiring more people to undertake home improvement projects is aiding in market expansion. In confluence with this, favorable government policies aimed at promoting local manufacturing have led to a decrease in the costs of DIY tools and materials, making them more accessible to the average consumer is influencing the market growth. Additionally, the trend toward urbanization has given rise to compact living spaces, which necessitates smart and efficient home solutions, creating a favorable outlook for the market expansion. In line with this, various cultural factors such as the Vietnamese emphasis on family and home as central aspects of life contribute to the willingness to invest time and resources in home improvement activities, supporting the market growth. Concurrently, significant technological advancements and the development of new, user-friendly tools and kits, simplifying the DIY process and encouraging more people to participate are aiding in market expansion. Furthermore, retailers in Vietnam are expanding their product offerings and enhancing customer experiences through in-store workshops and online support, thus facilitating the market growth. Apart from this, the growing interest in sustainable and eco-friendly home improvement options is presenting remunerative opportunities for market expansion.

Vietnam DIY Home Improvement Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type and distribution channel.

Type Insights:

• Lumber and Landscape Management
• Décor and Indoor Garden
• Kitchen
• Painting and Wallpaper
• Tools and Hardware
• Building Materials
• Lighting
• Plumbing and Equipment
• Flooring, Repair, and Replacement
• Electrical Work
                                                               

The report has provided a detailed breakup and analysis of the market based on the type. This includes lumber and landscape management, décor and indoor garden, kitchen, painting and wallpaper, tools and hardware, building materials, lighting, plumbing and equipment, flooring, repair, and replacement, and electrical work.

Distribution Channel Insights:

• DIY Home Improvement Stores
• Specialty Stores
• Online
• Others
   

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes DIY home improvement stores, specialty stores, online, and others.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam DIY Home Improvement Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam DIY home improvement market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Vietnam DIY home improvement market?
• What is the breakup of the Vietnam DIY home improvement market on the basis of type?
• What is the breakup of the Vietnam DIY home improvement market on the basis of distribution channel?
• What are the various stages in the value chain of the Vietnam DIY home improvement market? 
• What are the key driving factors and challenges in the Vietnam DIY home improvement?
• What is the structure of the Vietnam DIY home improvement market and who are the key players?
• What is the degree of competition in the Vietnam DIY home improvement market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam DIY home improvement market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam DIY home improvement market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam DIY home improvement industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.