Footwear Market Overview in Viet Nam
In value terms, footwear production contracted to $ in estimated in export prices. Overall, production, however, posted a resilient increase. The growth pace was the most rapid in 2018 with an increase of % y-o-y. Footwear production peaked at $ in 2019, and then declined in the following year.
The size of the footwear market in Viet Nam declined to $ in , approximately mirroring 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 +% over the period from 2007 to ; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of % year-to-year. Footwear consumption peaked at $ in 2015; however, from 2016 to , consumption remained at a lower figure.
From 2007 to , the biggest increases were in footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap, while footwear consumption for the other products experienced a decline.
In value terms, footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($), footwear with uppers of textile materials ($) and footwear with uppers of leather ($) appeared to be the products with the highest levels of market value in , together comprising % of the total market.
Footwear with uppers of textile materials recorded the highest rates of growth with regard to market size, in terms of the main consumed products over the period under review, while footwear market for the other products experienced more modest paces of growth.