footwear industry in vietnam
Opportunities of Vietnam Footwear Industry Inside the country: 2018 -2019, macroeconomic stability; Institutional reforms and administrative procedures help improve the investment-business environment and reduce costs of business. Jordan will help you find what you are looking for. Note:The supplier will ask you to send them your shoe designs as a general requirement. Key players in the market include companies that have the biggest share in the Footwear market such as Nike, Adidas, New Balance, Skechers, and Puma. Most shoe manufacturers in Vietnam are located in Hanoi, a province bordering Guangxi in southern China. 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 . The distribution channel Offline covers all purchases in stationary stores, by telesales, or via mail order (e.g., print catalogs). 164 Khuat Duy Tien Street, Thanh Xuan District, Hanoi City, Vietnam, Address 2: 12/13 Phan Ke Binh Str., Da Kao Ward, Dist. 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. . HVAC (Heating, Ventilation, & Air Conditioning), Footwear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028, Global E-commerce Footwear Market by Type (Athleisure Footwear, Athletic Footwear, Leather Footwear), End-User (Children, Men, Women) - Cumulative Impact of High Inflation - Forecast 2023-2030, Asia - Footwear with uppers of textile materials - Market Analysis, Forecast, Size, Trends and Insights, World - Children'S Leather Footwear - Market Analysis, Forecast, Size, Trends and Insights. was necessary for footwear companies to focus on exploiting domestic materials for sustainable development and make full use of tax incentives as well as While Vietnam was hit harder by shutdowns in 2021, recent lockdowns in China suggest that the issues there will take center stage in 2022. Cosmo can do everything from creating a product spec sheet, validation, sourcing, ordering and evaluating samples, arranging inspections, finding freight forwarders, quality assurance, negotiations, and shipping. Vietnam's footwear industry is not free of problems: it must import 60 percent of its raw materials, and it faces productivity constraints. , . 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. Be mindful of placing orders for thousands of pieces without consulting a sourcing agency like Cosmo Sourcing beforehand. Footwear | United States International Trade Commission Vietnam has a near-unlimited shoe manufacturing capacity. 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 The president of LEFASO also stated, "Our annual industrial production index has expanded by over 10%, and our exports exceeded USD 22 billion for the year, surpassing the target we've set. He The Vietnam - EU free trade Agreement (EVFTA), which took effect on August 1, 2020, and the Vietnam - United Kingdom free trade (UKFTA) on the basis of commitments of Vietnam and the UK in the EVFTA, which took effect on January 1, 2021, has had positive impacts on Vietnam's exports to the EU in general and the UK in particular. (August 1, 2022). Alena Footwear Company is based out of Thanh Hoa Province and is owned by the Hong Fu Footwear Corporation, a Taiwanese-based group. Nike has more than 100 suppliers in Vietnam, with 96 factories concentrated in the southern region. According to the latest data released by the WFY (World Footwear Yearbook), Vietnam's footwear exports are expected to reach 1 billion pairs. By 2028, the volume in the Footwear market is expected to reach 157.70m pairs. Negotiating export terms/shipping logistics. Digital Payments in Mobility Index 2022:Where to Play Next? , Aug 1, 2022. Our premier, award-winning syndicated market research database provides detailed data and analysis on industries, economies, countries and consumers across 781 cities, 210 countries.. We are happy to help. U.S. exports of footwear to Vietnam grew the fastest in 2017, rising by $63 million (54.3 percent), and Vietnam replaced Canada as the top export market for U.S. footwear. It 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. Despite being one of the youngest footwear companies in Vietnam, it is among the fastest-growing, with over 9,000 employees. As one of the world's leading footwear manufacturers. , , , , , , Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, "Research Report on the Footwear Industry in, https://www.researchandmarkets.com/r/488l3p, https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg, Saudi Arabia Plastic Cable Management Solutions Market Report 2023: Trends, Value, Revenue, Outlook, Forecast, Size, Analysis, Growth, Industry Share 2018-2028, Global Medical Equipment Maintenance Market Report 2023: Increase in Demand for Medical Devices Drives Growth, What is the impact of COVID-19 on the footwear manufacturing industry in, Analysis of Major Footwear Manufacturing Companies in, What are the key drivers, challenges and opportunities for the footwear industry in. AN LAC is an established footwear manufacturer based in Ho Chi Minh City that started as a leather footwear production company in 1987. Persisting Issues In The Vietnamese Garment Industry Gain competitive intelligence about market leaders, Track key industry trends, opportunities and threats, Inform your marketing, brand, strategy and market development, sales and supply functions. Please create an employee account to be able to mark statistics as favorites. Economic, political, social and cultural factors4. ), Canada, Korea, Japan, and Mexico. Learn more about how Statista can support your business. What are the major adverse factors facing the footwear industry in. Antique and/or vintage footwear is also excluded. The leather and footwear industry is said to be extremely prosperous when it has taken the initiative in 70% of raw materials for leather shoes in the medium segment, and 50% for products in the mid-range segment. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. TBS Group is a large fashion manufacturer specializing in several appeal and footwear industries. We have helped clients from Fortune 500 companies, brick-and-mortar stores, FBA sellers, and brand-new businesses. Horng Shin Footwear has been operational for two decades and provides a range of services in addition to shoe manufacturing. small-sized businesses failed to do so due to limited resources. General Statistics Office of Vietnam. The market is divided into Sneakers, Athletic Footwear, Leather Footwear, and Textile & Other Footwear. Key trends are clearly and succinctly summarised alongside the most current research data available. For companies related to the international footwear industry chain, there are many investment opportunities in Vietnam's market in the coming years.Topics covered: Key Topics Covered: 1 Overview of Vietnam1.1 Geographical Situation1.2 Demographic Structure of Vietnam1.3 Economy of Vietnam1.4 Minimum Wage in Vietnam, 2011-20211.5 Impact of COVID-19 on the Footwear Industry in Vietnam2 Development Environment of Vietnam's Footwear Industry2.1 Brief History of Vietnam's Footwear Industry2.2 Types of Vietnam's Footwear industry2.3 Policy Environment of Vietnam's Footwear Industry3 Supply and Demand Situation of Vietnam's Footwear Industry3.1 Supply Situation3.2 Demand Situation4 Import and Export Situation of Vietnam's Footwear Industry 2017-20224.1 Import Situation4.1.1 Import Volume and Import Value4.1.2 Main Import Sources4.2 Export Situation4.2.1 Export Volume and Value4.2.2 Main Export Destinations5 Market Competition in Vietnam's Footwear Industry5.1 Barriers to Entry in Vietnam's Footwear Industry5.1.1 Brand barrier5.1.2 Quality Barrier5.1.3 Capital Barrier5.2 Competitive Structure of Vietnam's Footwear Industry5.2.1 Bargaining Power of Footwear Suppliers5.2.2 Bargaining Power of Consumers5.2.3 Competition in Vietnam's Footwear Industry5.2.4 Potential Entrants in the Footwear Industry5.2.5 Substitutes for the Footwear Industry6 Analysis of Major Footwear Brand Companies in Vietnam6.1 Nike6.1.1 Development History of Nike6.1.2 Nike's Main Products6.1.3 Nike's Operation Model6.2 Adidas6.2.1 Development History of Adidas6.2.2 Adidas' Main products6.2.3 Adidas' Operation Model6.3 BINH TIEN IMEX CORP., PTE., LTD.6.3.1 Development History of BINH TIEN IMEX CORP., PTE., LTD.6.3.2 BINH TIEN IMEX CORP., PTE., LTD.'s Main Products6.3.3 BINH TIEN IMEX CORP., PTE., LTD.'s Operation Model6.4 Vinagiay Corporation6.4.1 Development History of VINAGIAY CORPORATION6.4.2 Main Products of VINAGIAY CORPORATION6.4.3 Operating model of VINAGIAY CORPORATION6.5 AN BA LEATHER FOOTWEAR ONE MEMBER CO., LTD6.5.1 Development History of AN BA LEATHER FOOTWEAR ONE MEMBER CO., LTD6.5.2 Main products of AN BA LEATHER FOOTWEAR ONE MEMBER CO.6.5.3 Operating Model of AN BA LEATHER FOOTWEAR ONE MEMBER CO.6.6 Saigeon Footwear Joint Stock Company6.7 Vinh Long Footwear Co.6.8 Sahara International Corporation6.9 Golden Star Company Limited6.10 Mai Nguyen Fashions Joint Stock Company7 Outlook on Vietnam's Footwear Industry, 2021-20317.1 Analysis of Vietnam's Footwear Industry Development Factors7.1.1 Drivers and Development Opportunities for Vietnam's Footwear Industry7.1.2 Threats and Challenges Facing Vietnam's Footwear Industry7.2 Forecast on Vietnam's Footwear Industry Supply7.3 Forecast on Vietnam's Footwear Industry Market Demand7.4 Forecast on Import and Export of Vietnam's Footwear Industry, For more information about this report visit https://www.researchandmarkets.com/r/ms6sjk, "Research Report on the Footwear Industry in Vietnam, 2022-2031", https://www.researchandmarkets.com/r/ms6sjk. Vietnam: export value of footwear 2021 | Statista In particular, Vietnam's footwear exports to the EU account for the largest proportion of the total exports. 1, Ho Chi Minh City, Vietnam. By the early 21st century, Nike became a well-recognized brand all over the world with about. The footwear industry's 2014 objective is to achieve a turnover of US$12 billion from US$10.3 billion in 2013. In 2021, Vietnam's footwear products were exported to more than 100 countries, with about 17.8 billion USD in footwear production. These corporations are not the only footwear companies to make a move to Vietnam. support policies to develop supporting industries. opportunities brought about by the EVFTA, according to the MoIT. Vietnam's footwear export economy is worth $22B/year. For example, in the EU-Vietnam Free Trade Agreement (EVFTA), Vietnam's footwear exports to the EU amount to about 40%. There is a more important basis for the bullishness of Vietnam's footwear exports, that is, Vietnam has signed trade agreements helpful for exports with Europe and the United States. Southeast Asia Footwear Industry 2023-2032 - Focus on - GlobeNewswire difficulties and taken advantage of market opportunities. from the ministry revealed that in the first quarter of this year, the ratio of Leading 10 global footwear producers, by country 2021 | Statista HAVE A QUESTION? August 1, 2022. Manufacturing shoes in Vietnam are relatively straightforward and even easier than manufacturing other types of products. Our site uses cookies to improve functionality. How will COVID-19 and recession impact demand? The Textile & Other Footwear segment dominates the market with a volume of US$0.71bn in 2023. What is the impact of COVID-19 on the footwear manufacturing industry in Vietnam? The product is a PDF. With a population of nearly 100 million people, Vietnams domestic footwear market has always been a potential. 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. Footwear Industry Expands In Vietnam - Music Press Asia The largest footwear brands, such as Nike and Adidas, are moving production to Vietnam. "Production volume of footwear in Vietnam from 2010 to 2021 (in million pairs)." Vietnam exports more. Research Expert covering Vietnam. 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. Which segment of Vietnams footwear market is expected to dominate the market in 2031? Welcome to our official guide on finding shoe suppliers in Vietnam. quoted by Sai Gon Giai Phong (Liberated Sai Gon) newspaper as saying. Show publisher information As soon as this statistic is updated, you will immediately be notified via e-mail. 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. How To Find Shoe Manufacturers In Vietnam // Top 10 Footwear Suppliers 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. In particular, Vietnam's footwear exports to the EU account for the largest proportion of the total exports. Horng Shin Footwear is one of Vietnam's most established footwear manufacturing companies. Thus, we have Currently, Innolux Group employs 1,600 factory workers in their Vietnam-based factory and exports over 500,000 pairs annually. Nike still manufactures a similar amount of footwear in both countries, but it's expected to soon shift to Vietnam. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections. Sales Channels . Apparel and Footwear Specialists in Vietnam, Dairy Products and Alternatives in Vietnam. The south-central province of Ninh Thuan has introduced new grape varieties and advanced farming techniques to improve farmers incomes. Vietnam Footwear Manufacturing Industry Report 2022: Global Footwear To start with, Vietnam exports nearly 50% of all footwear to 2 primary markets: the US and the Chinese. COVID-19 appeared in Vietnam in Vietnam and continued to impact the market in 2021 with it having a big impact on the lives of consumers. What are the strategies adopted by the key players in the market to increase their market share in the industry? In 2019, Vietnam exported a total of 883,000,000 pairs of shoes internationally. 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. China, India, Vietnam, and Indonesia are leaders in . Footwear exports account for nearly 10 per cent of the total export value of the country, and the industry . Henkel has been operating centers of this kind at relevant locations since 2013. US remained the biggest importer with an export value of 3.35 billion USD, followed by the EU and China overview of the footwear industry of Vietnam | Download Table So dont hesitate to contact us and let us know how we can help you. The company specializes in casual fashion shoes, children's shoes, and sports shoes. Detailed information about the footwear industry of Vietnam is provided in the Vietnam's footwear industry report prepared by VietnamCredit. The biggest trade show in Vietnam is the "International Footwear And Leather Products Exhibition," event that virtually every notable manufacturer attends. This report originates from Passport, our Footwear research and analysis database. A Vietnam Footwear Manufacturing Industry Report 2022: - GlobeNewswire The MOQ is our customers' main concern at Cosmo Sourcing because the manufacturer might require a large commitment, especially if they're reliable manufacturers known to work with large brands. Vietnam to see export growth as global demand recovers, Up to 420,000 C/O certificates for exports to FTA-benefited markets, Vietnam eyes 600 billion USD in export turnover in 2021, Vietnamese exporters struggle with rising material prices, Nearly 5 billion USD of exports to EU benefit from EVFTA, European Union - Vietnam Free Trade Agreement, ASEAN Para Games 12 flag-raising ceremony held, Winners of 4th De Men Award for Children honored, Russian paper: Vietnam opens up gateway to Asia, Eleventh working day of 15th National Assemblys fifth session, Vietnam-Laos agreement on mutual judicial assistance in civil matters ratified, Ambassador: Vietnam important economic partner of Australia, Master plan must reflect Vietnams energy commitments: Deputy PM, HCM City mechanical and electrical equipment exhibition opens, Vietnam attractive destination for Italian firms: forum, Ninh Thuan province develops grape eco-system, Programme for start-ups sparks entrepreneurial rush in agriculture, Investors urged to build resilient ESG-centered financial ecosystem. We are also established in China and are among the only companies that can find suppliers in China and Vietnam and pick the one you think is best. Part of the global footwear chain is gradually shifting from China to Vietnam due to its lower costs. Vietnam - Recruitment demand down in many sectors amid difficulties Nike started slowly moving sneakers and appeal production out of China to Vietnam. What are the strategies adopted by the key players in the market to increase their market share in the industry? Our Vietnam Sourcing services allow you to access new manufacturers that you would not be able to in China and avoid Tariffs. According to Kasper Rorsted (CEO of Adidas), in 2017, 44% of all Adidas footwear was manufactured in Vietnam. A printed copy of the product will be shipped to you. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions6. September 07, 2022 07:58 ET LEFASO claims that even after the COVID-19 crisis in 2020, the industrial output in terms of footwear will keep growing at over 10% a year, which means that next year, the export value will be closer to $25B/year. Currently, you are using a shared account. 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. Out of that total number, 75,000,000 pairs were textile footwear, and 282,000,000 were leather footwear. Last year the company exported $4.5M worth of footwear. For E.S.T Office Hours Call 1-917-300-0470 Oct 10, 2022. Van Ngoc, Director of Tan Phat Leather Shoes and Wallets Company Limited, said since In 2021, Vietnam's footwear products were exported to more than 100 countries, with about 17.8 billion USD in footwear production. Vietnam exports more than 1 billion pairs of footwear of all kinds of to hundreds of countries around the world every year. The Vietnamese footwear export market has reached almost every corner of the Earth, but 70 countries imported more than $1M worth of Vietnamese footwear last year. Kingmaker Group has over 40 years of experience in the footwear industry and employs 9,000 workers in its numerous factories. Background research defines the range of products and industries, which proposes the key points of the research. Vietnam has become the largest sourcing country for Adidas, accounting for about 40% of its total footwear production in 2021.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. In 2022, the sector grew by more than 30%, with one of the reasons behind this high growth being the effective utilization of free trade . 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 For example, in the EU-Vietnam Free Trade Agreement (EVFTA), Vietnam's footwear exports to the EU amount to about 40%. What is the expected revenue of Vietnam's footwear market during 2022-2031? For more information on the displayed data, use the info button directly next to the boxes. The largest manufacturers start at 10,000 pieces and above. The ease is because Vietnamese shoe suppliers have experienced large production capacities - whatever you need, they'll get it done. Sign up to get PRNs top stories and curated news delivered to your inbox weekly! Workers at a Ha Tay Chemical Weave Co.Ltd in Hanoi. with textile uppers). Development History of VINAGIAY CORPORATION, AN BA LEATHER FOOTWEAR ONE MEMBER CO., LTD. The difficulties and profits in the context of the pandemic. Back then, Properwell Group was exclusively manufacturing sandals and high heels. Some large "do-it-all" shoe manufacturers (listed below) can manufacture every type of shoe and have production capacities of millions of pairs per month. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Besides, finance and labor are also an issue that needs to be taken care of. Hanoi, Leather and footwear export volume of Vietnam is also second only to China. 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. Get Vietnam Footwear Industry Report 2021. Key companies in the Vietnamese Footwear Market include Nike, Adidas, BINH TIEN IMEX CORP., PTE., LTD., Vinagiay Corporation, Development History of VINAGIAY CORPORATION, Main Products of VINAGIAY CORPORATION, Operating model of VINAGIAY CORPORATION, AN BA LEATHER FOOTWEAR ONE MEMBER CO., LTD, Saigeon Footwear Joint Stock Company and Vinh Long Footwear Co.. 2.1 Brief History of Vietnams Footwear Industry, 5.1 Barriers to Entry in Vietnams Footwear Industry, 7.1 Analysis of Vietnams Footwear Industry Development Factors, Chart Total Population of Vietnam, 2011-2021.