Footwear Market Overview in Viet Nam
In value terms, footwear production amounted to $8.6B in 2010 estimated in export prices. The total output value increased at an average annual rate of +4.5% over the period from 2007 to 2010; the trend pattern remained relatively stable, with only minor fluctuations over the period under review. The most prominent rate of growth was recorded in 2010 when production volume increased by 9.9% year-to-year. In that year, footwear production attained its peak level and is likely to continue its growth in the immediate term.
The revenue of the footwear market in Viet Nam amounted to $2.5B in 2010, growing by 2.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +4.0% over the period from 2007 to 2010; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2008 when the market value increased by 11% against the previous year. Footwear consumption peaked in 2010 and is expected to retain its growth in the immediate term.
From 2007 to 2010, the most notable rate of growth in terms of footwear consumption, amongst the main consumed products, was attained by waterproof footwear, while footwear consumption for the other products experienced mixed trend patterns.
In value terms, the most traded types of footwear in Viet Nam were footwear with uppers of leather ($1.1B), footwear with uppers of textile materials ($868M) and footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($464M), together comprising 99% of the total market.
In terms of the main consumed products, footwear with uppers of textile materials experienced the highest rates of growth with regard to market size, over the period under review, while footwear market for the other products experienced more modest paces of growth.