Vietnam Footwear Manufacturing Industry Report 2022: Production and Footwear exports account for nearly 10 per cent of the total export value of the country, and the industry . Vietnam's government plans to support shoe manufacturers in the future. Profit from the additional features of your individual account. This product is a market research report. The government continue to maintains a policy towards export. In a recent survey on business condition in the footwear industry conducted by World Footwear, some experts in this field believed that the biggest difficulty of footwear manufacturing companies is the lack of supply. Update: COVID-19 Impact, Footwear: Global Strategic Business Report, Economic and Policy Environment of Vietnams Footwear Industry. Footwear in Vietnam | Market Research Report | Euromonitor year-on-year to nearly 8.4 billion USD, accounting for 6.4 percent of the countrys TBS Group currently has 33 production factories and has been operational for over 25 years. footwear industry to the fact that it has taken advantage of tax incentives offered by the European Union - Vietnam Free Trade Agreement (EVFTA). 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. In 2020, Vietnam's footwear products were exported to more than 100 countries, with exports to 70 of these countries exceeding USD1 million in footwear production. At the start of the 2010s, with surging labor costs in China, manufacturers were looking for alternative countries. Currently, you are using a shared account. Properwell Group is a woman's shoe manufacturer in Vietnam. US remained the biggest importer with an export value of 3.35 billion USD, followed by the EU and China Vietnam is known for its highly developed footwear manufacturing industry and is currently the world's 2nd largest footwear exporter after China. Items must be new when sold to the consumer; second-hand/used footwear is excluded. Except during the pandemic, the industry has been steadily growing over the past decade and is predicted to double by 2031. The center is situated about 30 kilometers to the east of Ho Chi Minh City and serves as a showroom for automated adhesive solutions in the shoe manufacturing industry. In 2021, Vietnam's footwear exports have seen a resurgence in growth.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. Thus, we have USD) this year. In addition, while the domestic manufacturing industry is gradually recovering, there come difficulties for the export segment while the two main export markets of Vietnams leather footwear industry, the United States and Europe, have yet to control the epidemic situation. 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 Note: It's impossible to place orders through VietAZ, but you can contact suppliers from the website. Kingmaker Group's factories were modernized in 2014, and since then, they have had a production capacity of 10 million pairs of shoes per year. This product is a market research report. As soon as this statistic is updated, you will immediately be notified via e-mail. As a result, Adidas cut 50% of its production in China and moved almost all those jobs to Vietnam. In Even though certain economies can manufacture footwear at cheaper rates (such as Bangladesh, India, etc. The outbreak of the pandemic has caused businesses to face double difficulties in terms of input and output. 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. Kingmaker Group also manufactures footwear in China and Cambodia. remaining customers ask for late payments or discounts, causing challenges The largest footwear brands, such as Nike and Adidas, are moving production to Vietnam. For more information on the displayed data, use the info button directly next to the boxes. Alena Footwear Company is a contemporary shoe manufacturing company in Vietnam. Properwell Group also specializes in the production of high-end luxury shoes for women. 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. Every year, Vietnam exports more than 1 billion pairs of shoes of all kinds to hundreds of countries around the world. As one of the world's leading footwear manufacturers, Vietnam ranks second in the world in terms of leather and footwear exports after China. 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. Vietnam's footwear export economy is worth $22B/year. Innolux Group is owned by Innolux Group and is one of the most established footwear manufacturers in the world. of footwear in the first five months of this year grew 25.5 percent Properwell Group employs over 1,800 total workers between their four factories located in Asia - their Vietnamese factory is the largest one. overview of the footwear industry of Vietnam | Download Table Innolux Group can manufacture everything from women's footwear to sports shoes. quoted by Sai Gon Giai Phong (Liberated Sai Gon) newspaper as saying. with textile uppers). The footwear industry's 2014 objective is to achieve a turnover of US$12 billion from US$10.3 billion in 2013. 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 . 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. Detailed information about the footwear industry of Vietnam is provided in the Vietnam's footwear industry report prepared by VietnamCredit. A printed copy of the product will be shipped to you. Includes all mens, womens and childrens outdoor and indoor shoes made of materials as leather, fabric or plastic. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: The Footwear market comprises all kinds of shoes that are designed and intended for a variety of activities. Vietnam is known for its highly developed footwear manufacturing industry, and it's currently the world's 2nd largest footwear exporter after China. Hanoi Rubber Joint Stock Company primarily exports to the EU market, and Germany consumes 80% of its products. Currently, Vietnam is the world's 4th largest garments exporter and the 2nd largest footwear exporter. Error: Something went wrong, try again in a few minutes. Hanoi Rubber's shoes are ISO 9001 certified, which means they're suitable for international exports. Region: Vietnam China Research & Intelligence ID: 5639695 Table of Contents Companies Mentioned Methodology Related Reports Footwear Market in Vietnam As one of the world's leading footwear manufacturers, Vietnam ranks second in the world in terms of leather and footwear exports after China. Hanoi, Sign up to get PRNs top stories and curated news delivered to your inbox weekly! 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 . opportunities brought about by the EVFTA, according to the MoIT. The group was founded in Vietnam in 1996 and currently possesses 20 footwear factories. In addition, Properwell Group currently offers a women's shoe manufacturing workshop at their factory. Tourism, restaurants, and hotels are considered to have suffered the most from the pandemic, with recruitment demand falling 43%. (2022). The sales channel Online refers to the purchase of physical goods in online retail. Welcome to our official guide on finding shoe suppliers in Vietnam. 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. There are thousands of shoe suppliers and factories in Vietnam. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.Primary research is the key to solve questions, which largely influence the research outputs. Vietnam exclusively used to export shoes to US and EU-based markets. 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 estimate they are among the top 5 footwear manufacturers in Vietnam, with over 21 million pairs of shoes manufactured and exported every year. Show publisher information with 1.92 billion USD and 830.9 million USD, respectively. By 2028, the volume in the Footwear market is expected to reach 157.70m pairs. Kingmaker Group has an impressive list of big-name clients such as Asics, CAT, Skechers, and Roxy. 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. If you pick up any random Nike shoe at the moment, there's more than a 50% chance Nike made it in Vietnam. Southeast Asia Footwear Industry 2023-2032 - Focus on Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia Vietnam's footwear export economy is worth $22B/year. Athletic Footwear refers to shoes specifically designed for sports activities such as tennis, basketball, soccer, and running. This report originates from Passport, our Footwear research and analysis database. DUBLIN, Sept. 13, 2022 /PRNewswire/ --The "Research Report on the Footwear Industry in Vietnam, 2022-2031" report has been added to ResearchAndMarkets.com's offering. Horng Shin Footwear has a capacity exceeding 2,000,000 pairs of shoes annually, and the company is working on expanding that capacity constantly. 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. , . Hanoi Rubber Joint Stock Company is a casual shoe manufacturer based in Vietnam that has been exporting to international clients since 2005. Our services are designed to do everything to take your idea, turn it into a product, and ship it to the final destination. 7 Outlook on Vietnam's Footwear Industry, 2021-2031. Use this guide to get started! Which segment of Vietnam's footwear market is expected to dominate the market in 2031? What are the key drivers, challenges and opportunities for the footwear industry in Vietnam during 2022-2031? The total export turnover of Vietnams leather and footwear products in 2020 decreased by 10% compared to 2019. 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. Vietnam has a near-unlimited shoe manufacturing capacity. for the company, he said, adding that it maintained production in spite Do consumers want premium quality or fast fashion? This guide will cover all the essential information about manufacturing shoes in Vietnam. difficulties caused by the COVID-19 pandemic, Vietnam's footwear industry still achieved double-digit growth and some companies have received long-term orders. For instance, Adidas only manufactured 31% of its footwear in Vietnam in 2012, which is now almost 50%. Producing the first samples (subject to client approval). We will always be able to negotiate the MOQ down to minimize the risk for our clients. In its annual report (2020), Adidas suggested that in 2019, 98% of Adidas' footwear products were produced in the Asian region. Mit Ihrer Anmeldung erklren Sie sich damit einverstanden, Inhalte von uns zu erhalten. The largest footwear brands, such as Nike and Adidas, are moving production to Vietnam. Despite In particular, Vietnams footwear export to the European Union (EU) accounts for the largest proportion in the total export turnover. It Despite being one of the youngest footwear companies in Vietnam, it is among the fastest-growing, with over 9,000 employees. reached nearly 99 percent. Their factory is located in the Hoang Long Industrial and Urban Zone and stretches 234,218 square meters to manufacture millions of shoes annually. Analysis of key supply-side and demand trends, Detailed segmentation of international and local products, Historic volume and value sizes, company and brand market shares, Five year forecasts of market trends and market growth, Robust and transparent research methodology, conducted in-country. But 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. They have an experienced team that exports over 2M pairs per year, and we can put you in touch with them at Cosmo Sourcing. With a population of nearly 100 million people, Vietnams domestic footwear market has always been a potential. We can ensure that your designs are manufactured in a world-class factory and that your goods are suitable for export to US/EU markets. In addition, footwear's localization rate will continue growing in the domestic market. Aside from footwear, we can also help you source related products such as: What is the main reason to start manufacturing shoes in Vietnam? Aleron Vietnam Footwear Co., Ltd. stands out by focusing almost exclusively on sports shoes, and its largest customers are Puma, Clark, and other UK/US-based companies. Vietnam has become the largest sourcing country for Adidas, accounting for about 40% of its total footwear production in 2021. The largest footwear brands, such as Nike and Adidas, are moving production to Vietnam. to Nguyen Duc Thuan, Chairman of the Vietnam Leather, Footwear and Handbag | Source: Copyright 2002-2023 Research and Markets. Manufacturing shoes in Vietnam are relatively straightforward and even easier than manufacturing other types of products. Get Vietnam Footwear Industry Report 2021. difficulties and profits in the context of the pandemic. The product is a PDF. Nike's arch rival, Adidas, has also chosen Vietnam as its main production area. Workers at a Ha Tay Chemical Weave Co.Ltd in Hanoi. This market includes athletic, casual, formal, and other town footwear but excludes work and safety shoes. Figures Currently, Innolux Group employs 1,600 factory workers in their Vietnam-based factory and exports over 500,000 pairs annually. Curious about how we partner with you to help you solve your complex modern-day business problem? AN LAC promises a guaranteed output of 10,000 pairs per day for customers. pair of shoes. 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. 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. Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable). 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. Their primary client base consists of foreign investors looking to manufacture footwear in 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. Revenue of the cosmetic & beauty industry in the U.S. 2002-2022, Value of the leading global textile exporters in 2021, by country, Vegetable oils: global consumption 2013/14 to 2022/23, by oil type, Cocoa bean production worldwide 2020/2021-2022/2023, by country, World coffee per capita consumption: major consumer countries 2015, Cosmetics industry in the U.S. - statistics & facts, Profit from additional features with an Employee Account. Get in touch with Cosmo now - we've sourced over $40M worth of Vietnam products. Dong Hung Group has worked with the largest sports apparel companies globally, such as US Polo, Superga, Marks & Spencer, and more. 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. In particular, the agreements related to the leather and footwear industry such as CPTPP and EVFTA have attracted foreign investors to the Vietnamese market. 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.
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