Vietnam Footwear Manufacturing Industry Report 2022: Global Footwear Even though certain economies can manufacture footwear at cheaper rates (such as Bangladesh, India, etc. Apparel and footwear has rebounded in 2022, thanks to the reopening of society following the pandemic restrictions and with COVID-19 now assigned to history., Sportswear took a hit during the era of the pandemic, with the closure of gymnasiums and sports centres, restrictions on sporting events, the closure of, Apparel and footwear specialists is a channel which was negatively affected by the pandemic restrictions and which is seeing a bounce-back in 2022 thanks to the. Raffaele Cattaneo, deputy minister in charge of international relations of Italys Lombardia region, called Vietnam a diamond of Asia and an attractive destination for Lombardia enterprises while speaking at a recent business and investment forum in Milan. Sign in to create job alert 36 Footwear Jobs in Vietnam (2 new) Head Of Footwear Sourcing, APAC - Ho Chi. This is a single user license, allowing one user access to the product. Indoor shoes includes house-shoes and slippers. 6.3.1 Development History of BINH TIEN IMEX CORP., PTE., LTD. 6.3.2 BINH TIEN IMEX CORP., PTE., LTD.'s Main Products, 6.3.3 BINH TIEN IMEX CORP., PTE., LTD.'s Operation Model, 6.4.1 Development History of VINAGIAY CORPORATION, 6.4.2 Main Products of VINAGIAY CORPORATION, 6.4.3 Operating model of VINAGIAY CORPORATION, 6.5 AN BA LEATHER FOOTWEAR ONE MEMBER CO., LTD, 6.5.1 Development History of AN BA LEATHER FOOTWEAR ONE MEMBER CO., LTD. 6.5.2 Main products of AN BA LEATHER FOOTWEAR ONE MEMBER CO. 6.5.3 Operating Model of AN BA LEATHER FOOTWEAR ONE MEMBER CO. 6.10 Mai Nguyen Fashions Joint Stock Company, 7 Outlook on Vietnam's Footwear Industry, 2021-2031, 7.1 Analysis of Vietnam's Footwear Industry Development Factors, 7.1.1 Drivers and Development Opportunities for Vietnam's Footwear Industry, 7.1.2 Threats and Challenges Facing Vietnam's Footwear Industry, 7.2 Forecast on Vietnam's Footwear Industry Supply, 7.3 Forecast on Vietnam's Footwear Industry Market Demand, 7.4 Forecast on Import and Export of Vietnam's Footwear Industry, For more information about this report visit https://www.researchandmarkets.com/r/2mw77i, ResearchAndMarkets.com Figures have been rounded. Get in touch with us now. Additionally, the market is projected to show a volume growth of 2.9% in 2024. We are happy to help. Our premier, award-winning syndicated market research database provides detailed data and analysis on industries, economies, countries and consumers across 781 cities, 210 countries.. What are the strategies adopted by the key players in the market to increase their market share in the industry? Hanoi Rubber Joint Stock Company also has an R&D team that can produce designs for customers. So dont hesitate to contact us and let us know how we can help you. Vietnam: production volume of footwear 2021 | Statista September 07, 2022 07:58 ET reached nearly 99 percent. They are among the fastest-growing manufacturers in Vietnam and provide a mix of manufacturing and mediator services. We find this is a relatively good deal considering the price per pair is still much lower than in China, and the margins are excellent for investors who can support this kind of volume. In particular, Vietnam's footwear exports to the EU account for the largest proportion of the total exports. Global Sources is the #1 alternative to Alibaba and provides a similar platform where you can directly place orders with shoe manufacturers. Our consulting team answers your commercial questions with data and insights generated by our research experts, industry knowledge and 1,200 on-the-ground analysts in 100 developed, emerging and frontier markets. The market covers womens, mens, and childrens footwear. Nike has more than 100 suppliers in Vietnam, with 96 factories concentrated in the southern region.Nike's arch rival, Adidas, has also chosen Vietnam as its main production area. In addition, Properwell Group currently offers a women's shoe manufacturing workshop at their factory. If we analyze historical patterns, we at Cosmo noticed that the big shift in Vietnamese footwear happened around the middle of the 2010s when big brands like Nike and Adidas were closing factories in China and moving manufacturing to Vietnam almost exclusively. Economic and Policy Environment of Vietnam's Footwear Industry. Opportunities for Vietnam's Footwear Industry After the 2019-2020 Then you can access your favorite statistics via the star in the header. The leather and footwear industry is striving to reach US$27 billion in export turnover in 2023, an increase of about 10% compared to one year earlier amid shrinking major markets and falling demand. You can visit trade shows if you want to meet the largest footwear suppliers in the country. According to the analyst's analysis, due to the impact of COVID-19, Vietnam's footwear exports was USD16.75 billion in 2020, decreased 8.6% YOY. The sales channel Online refers to the purchase of physical goods in online retail. Nike still manufactures a similar amount of footwear in both countries, but it's expected to soon shift to Vietnam. However, because its labor costs are competitive, its industry and the Vietnamese government are focused on expanding footwear exports in the near future. sufficient orders to keep us busy for the remainder of the year, Ngoc was Please select an option from the list below. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022. The positive economic data signals that the footwear sector in Vietnam has been growing exponentially since 2014, and we intend to seize every opportunity". Every year, Vietnam exports more than 1 billion pairs of shoes of all kinds to hundreds of countries around the world. Sports footwear (broken out as a separate category) is included in total footwear figure. If not, select "Manage Preferences" to learn more about managing your cookie preferences. According to the analyst's analysis, two giant brands in the global footwear industry, Nike and Adidas, have chosen Vietnam as their main production base. The following shoes can be manufactured in Vietnam: Traditional shoes (Klompen, bast, geta, opanci, etc.). Research Report on the Footwear Industry in Vietnam, 2022-2031. Are you ready to start manufacturing your shoes in Vietnam? In the first four months of 2023 compared to pre-pandemic. The Production volume of footwear in Vietnam from 2010 to 2021 (in million pairs) [Graph]. In 2021, Vietnam's footwear exports have seen a resurgence in growth. Innolux Group can manufacture everything from women's footwear to sports shoes. Consulting the suppliers for designs. The Vietnamese Footwear Market was estimated to be valued at $19.17 Billion in 2022. Vietnam Smartphone Market Declined by 5% Quarter-over-Quarter - IDC However, while U.S. exports of footwear to Canada encompassed a variety of shoes, including athletic and work footwear, virtually all (99.4 percent) U.S. footwear exports to . When the pandemic is totally under control, the recovery of Vietnam's leather and footwear industry will be faster than that of other countries in the world. Exports of footwear: In March 2021, footwear exports were estimated at 1,660 million USD, up 19.8% compared to March 2020. Follow this link to learn more about our cookie policy and how we use cookies. ), Canada, Korea, Japan, and Mexico. Besides, finance and labor are also an issue that needs to be taken care of. with textile uppers). followed by the Republic of Korea and Taiwan (China). Southeast Asia Footwear Industry 2023-2032 - Yahoo Finance How is the rise of e-commerce shaping demand? For U.S./ CAN Toll Free Call 1-800-526-8630 If you are interested in sourcing from Vietnam, feel free to reach out to the team at Cosmo Sourcing; we have been helping clients source from Vietnam since 2014. For comparison, only 19% of Adidas footwear was manufactured in China. So the world's biggest apparel brands made moves that clearly show how Asia's manufacturing sector is shifting and how the map is being redrawn. Background research defines the range of products and industries, which proposes the key points of the research. Vietnam: export value of footwear 2021 | Statista In general, in the first quarter of 2021, the figure was estimated at 4,738 million USD, up 13.5% compared to the first quarter of 2020. Get in touch with us. In, General Statistics Office of Vietnam. The quality is identical to China's, and the labor force is significantly lower, while dozens of factories employ thousands of workers specializing in footwear. TBS Group currently has 33 production factories and has been operational for over 25 years. Vietnam exclusively used to export shoes to US and EU-based markets. Research and Markets. With over 30 years in footwear manufacturing, AN LAC currently has 12,000,000 shoes annually. Participating in ASEAN in 1996, Vietnam has signed many free trade agreements, both bilateral and multilateral. They have a dedicated "Footwear" section with over 300 products and suppliers. Sneakers are defined as everyday footwear with an athletic appearance. , . Although the Convid-19 pandemic has caused 94% of leather shoe manufacturing businesses to suffer from a decrease in new orders, since the third quarter of 2020, Vietnam's leather and footwear industry has recovered with gradual increase in the number of orders. Hanoi, June 15 (VNA) - Despite facing difficulties caused by the COVID-19 pandemic, Vietnam's footwear industry still achieved double-digit growth and some companies have received long-term orders. Export turnover of leather and footwear in the period 2010 - 2020. to Nguyen Duc Thuan, Chairman of the Vietnam Leather, Footwear and Handbag TBS Group is a large fashion manufacturer specializing in several appeal and footwear industries. Sign up today for your free Reader Account! This is evidenced by the fact that in 2018, the number of leather shoes consumed in Vietnnam reached 190 million pairs, equivalent to 1.9 pairs/person/year. What is the expected revenue of Vietnam's footwear market during 2022-2031? "Athleisure" footwear (everyday shoes with athletic design), Other town footwear (e.g. Younger urban generations, being those who follow fashion trends and have stronger spending power, will be instrumental in this particularly for branded names such as adidas and Nike. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions6. All Rights Reserved. Horng Shin Footwear has been operational for two decades and provides a range of services in addition to shoe manufacturing. As such, whilst e-commerce will continue to attract attention, omnichannel options will be key, as once consumers know their ideal fit in a shoe, they will then be more confident purchasing it online. The largest footwear brands, such as Nike and Adidas, are moving production to Vietnam. By the end of 2021, there are about 2,200 enterprises producing footwear in Vietnam, mainly concentrated in the area around Ho Chi Minh City. Via helps you navigate a fast-changing digital marketplace. He The south-central province of Ninh Thuan has introduced new grape varieties and advanced farming techniques to improve farmers incomes. China, India, Vietnam, and Indonesia are leaders in . Vietnam has signed many agreements with developed countries that are conducive to promoting exports, but the strength of Vietnam's local footwear enterprises remains weak and the major market. The most rapid decrease was seen in exports to Latin America (-25.4%), followed by the EU (-15.4%), North America (-8.4%) and Asia (-5.8%), reflecting the negative impacts of the Covid-19 epidemic on different continents. What are the strategies adopted by the key players in the market to increase their market share in the industry? Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 1000+ markets in 190+ countries & territories, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. 164 Khuat Duy Tien Street, Thanh Xuan District, Hanoi City, Vietnam, Address 2: 12/13 Phan Ke Binh Str., Da Kao Ward, Dist. This product is a market research report. To ensure the most secure and best overall experience on our website, we recommend the latest versions of, "Research Report on the Footwear Industry in Vietnam, 2022-2031", https://www.researchandmarkets.com/r/2mw77i, Economic and Policy Environment of Vietnam's Footwear Industry. In Vietnam, a lot of business is conducted the old-fashioned way. Show sources information The wide variety of countries that import Vietnamese-made footwear means that almost half of all countries consume Vietnamese footwear in large quantities. 7 Outlook on Vietnam's Footwear Industry, 2021-2031. Scroll below for our list of the largest shoe manufacturers in Vietnam. Vietnamese Leather and Footwear Association, Check out our full list of Alibaba Alternatives for Vietnam to find any product, including shoes, International Footwear And Leather Products Exhibition. The facility in Vietnam opened in 2019 and represents a clear investment in the local business. Dong Hung Group stands out among footwear manufacturers for specializing in sports shoes. The According to the analyst's analysis, two giant brands in the global footwear industry, Nike and Adidas, have chosen Vietnam as their main production base. Southeast Asia Footwear Industry 2023-2032 - Focus on Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia Vietnam Survey time period 2010 to 2021 Supplementary notes * Preliminary figure. Chart. The Footwear market in Vietnam is projected to grow by 14.14% (2023-2027) resulting in a market volume of US$405.00m in 2027. . In fact, the country is responsible for over 10% of all footwear exports in the world. In the last months of 2020 and the first months of 2021, the number of export orders has increased: - Exports of handbags: In March 2021, exports of handbag were estimated at 285 million USD, down 5.6% compared to March 2020. Find your information in our database containing over 20,000 reports. customers in this market cancelled 80 percent of orders. Except during the pandemic, the industry has been steadily growing over the past decade and is predicted to double by 2031. Properwell Group is a woman's shoe manufacturer in Vietnam. Vietnam's footwear industry is Vietnam's third-largest export sector. The analyst always chooses the data source carefully. If you're in the Footwear industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty. Economic, political, social and cultural factors4. What Lockdowns in China Mean for Footwear Brands and the . As one of the world's leading footwear manufacturers, Vietnam ranks second in the world in terms of leather and footwear exports after China. Nike started slowly moving sneakers and appeal production out of China to Vietnam. Forecast on Vietnam's Footwear Market, 2022-2031, Analysis of Major Footwear Manufacturing Companies in Vietnam, Key Drivers and Market Opportunities in Vietnam Footwear Industry. We extract and organise ecommerce data from over 1,500 online retailers in 40 countries providing daily updates on pricing, assortment size and key attributes. The Vietnamese Minister of Industry and Trade stated: "Vietnamese shoe manufacturers must undergo reforms to improve their technology, boost their productivity, and become more competitive on the global market. Leather Footwear encompasses boots, sandals, town footwear, clogs, and similar shoes that are made of leather uppers. The big boys are doing it! The outbreak of the pandemic has caused businesses to face double difficulties in terms of input and output. In 2020, Vietnam's footwear products were exported to more than 100 countries, with exports . The group was founded in Vietnam in 1996 and currently possesses 20 footwear factories. Ministry of Industry and Trade (MoIT) attributed the impressive growth of the New strides in shoe manufacturing and automation in Vietnam - Henkel By 2028, the volume in the Footwear market is expected to reach 157.70m pairs. What are the key drivers, challenges and opportunities for the footwear industry in Vietnam during 2022-2031? Items must be new when sold to the consumer; second-hand/used footwear is excluded. and other countries, he said./. We'll break down information such as the Vietnamese footwear economy, manufacturing capacity, finding shoe suppliers, placing orders with Vietnamese manufacturers, and a list of the top manufacturers in Vietnam. We aim to handle every single step of your business in Vietnam for you. This According to the analyst's analysis, two giant brands in the global footwear industry, Nike and Adidas, have chosen Vietnam as their main production base. Each license type allows a set number of users to access the report. Leather and footwear export volume of Vietnam is also second only to China. [Online]. Development History of VINAGIAY CORPORATION, AN BA LEATHER FOOTWEAR ONE MEMBER CO., LTD. HAVE A QUESTION? The larger brands will focus on dynamic marketing activities to reach and engage with consumers, alongside ensuring offers and discounts to attract attention; whereas local brands will focus on maintaining an attractive quality-to-price ratio to meet the needs of many local consumers. What is the expected revenue of Vietnams footwear market during 2022-2031? Apparel and Footwear Specialists in Vietnam, Dairy Products and Alternatives in Vietnam. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has helped Vietnam's footwear exports to Canada and Mexico soar.Vietnam has signed many agreements with developed countries that are conducive to promoting exports, but the strength of Vietnam's local footwear enterprises remains weak and the major market share of Vietnam's footwear industry is occupied by foreign companies. In our experience, the order process goes like this: Finding suppliers (we can recommend reliable footwear suppliers!). According to Kasper Rorsted (CEO of Adidas), in 2017, 44% of all Adidas footwear was manufactured in Vietnam. Cosmo Sourcing has the skills and the team to find you the best supplier possible. Tourism, restaurants, and hotels are considered to have suffered the most from the pandemic, with recruitment demand falling 43%. of footwear in the first five months of this year grew 25.5 percent Part of the global footwear chain is gradually shifting from China to Vietnam due to its lower costs. Despite facing difficulties caused by the COVID-19 pandemic, Vietnam's footwear industry still achieved double-digit growth and some companies have received long-term orders. support policies to develop supporting industries. While Vietnam was hit harder by shutdowns in 2021, recent lockdowns in China suggest that the issues there will take center stage in 2022. One of those options was Bangladesh, but Adidas chose Vietnam due to its more convenient shipping logistics and superior infrastructure. What are the major adverse factors facing the footwear industry in Vietnam? The shoe volume means the company produces nearly 1-2% of all Vietnamese footwear exports. Back then, Properwell Group was exclusively manufacturing sandals and high heels. chains, he said. Available: https://www.statista.com/statistics/1042450/vietnam-production-volume-of-footwear/, Production volume of footwear in Vietnam from 2010 to 2021, Immediate access to statistics, forecasts & reports, Share in world imports of the leading textile importers 2021 by country, Share in world exports of the leading textile exporters 2021, by country, Manufacturing employment as share of total employment in Vietnam 2010-2021, Manufacturing labor productivity in Vietnam 2015-2021, Average monthly salary for paid workers and employees in Vietnam 2020-2022, Production volume of fabrics in Vietnam 2010-2021, Production volume of textile fibers in Vietnam 2010-2021, Volume of cotton imports in Vietnam 2017-2023, Import value of textile fabrics in Vietnam 2010-2021, Breakdown of yarns imported Vietnam 2021, by trade partner, Market share of yarn imports Vietnam 2021, by trade partner, Production volume of clothes in Vietnam 2010-2021, Production volume of footwear in Vietnam 2010-2021, Production volume of fabric shoes in Vietnam 2010-2021, Production volume of sports shoes in Vietnam 2010-2021, Textile and garment export value Vietnam 9M 2022, by category, Textile and garment export growth Vietnam 9M 2022, by category, Main export markets of Vietnamese textiles 10M 2022, Export value of footwear in Vietnam 2010-2021, Leather and footwear export value Vietnam 11M 2022, by category, Leather and footwear export growth Vietnam 11M 2022, by category, Apparel market segment revenue in Vietnam 2014-2027, by segment, Per capita revenue of the apparel market in Vietnam 2014-2027, by segment, Apparel market volume in Vietnam 2014-2027, by segment, Apparel market sales channel share in Vietnam 2017-2025, Apparel market price-per-unit in Vietnam 2013-2027, Per capita expenditure on clothing and footwear in Finland 2011-2021, Clothing and footwear spending per capita in Finland 2015, by product or service, Value of the clothing and footwear market in Finland 2015, by product or service, Per capita expenditure share of clothing and footwear in Finland 2015, by product, Monthly export value of clothing, footwear and textile products in Canada 2015-2022, Monthly import value of clothing, footwear and textile products in Canada 2015-2022, Change in sales of textile, clothing and footwear wholesalers in Canada 2012-2021, Favorite websites to buy fashion items online in Spain in 2019, Monthly export value of clothing, footwear and accessories in Canada 2015-2022, Clothing and footwear purchase trend in the United Kingdom (UK) Q1 2012 - Q4 2022, Quarterly retail sales of clothing, footwear and accessories in Canada 2013-2016, Quarterly export price index of clothing, footwear and textiles in Canada 2014-2022, Importance of clothing and footwear attributes in Thailand 2016, Slovakia: number of footwear manufacturers 2011-2020, Production volume of footwear in Vietnam from 2010 to 2021 (in million pairs), Find your information in our database containing over 20,000 reports. If you're considering manufacturing shoes in Asia, Vietnam is the best country. By the end of 2021, there are about 2,200 enterprises producing footwear in Vietnam, mainly concentrated in the area around Ho Chi Minh City. Depending on their purpose and function, these shoes are made from leather, textile, plastic, rubber, and/or wood materials. This market includes athletic, casual, formal, and other town footwear but excludes work and safety shoes. Nike's Marketing Mix and PESTL Analysis in Vietnam - ResearchGate AN LAC is owned by the BS Footwear Company based out of Korea. Vietnam is known for its highly developed footwear manufacturing industry and is currently the world's 2nd largest footwear exporter after China. Which segment of Vietnam's footwear market is expected to dominate the market in 2031? Antique and/or vintage footwear is also excluded. Alena Footwear Company is a contemporary shoe manufacturing company in Vietnam. In its annual report (2020), Adidas suggested that in 2019, 98% of Adidas' footwear products were produced in the Asian region. August 3, 2020 9:00am Marmoset/Adobe Stock As footwear brands and retailers look to spread out their sourcing, there's both risk and reward in trying to leave China to make shoes elsewhere. The proximity to China is another benefit as it allows suppliers to source materials from China directly. For example, in the EU-Vietnam Free Trade Agreement (EVFTA), Vietnam's footwear exports to the EU amount to about 40%. to incorporate the statistic into your presentation at any time.