Vietnam Footwear Industry Analysis and Research Report

Market Overview:

Vietnam footwear market size is projected to exhibit a growth rate (CAGR) of 5.90% during 2024-2032. The rising number of online retail channels that are providing consumers with a convenient and diverse shopping experience is primarily driving the market growth across the country.

Footwear serves the purpose of offering comfort and safeguarding the feet, encompassing a range of items like shoes, boots, sandals, and slippers. Manufactured from an extensive array of materials like wood, canvas, leather, jute, plastics, and rubber, it ensures protection and support during various activities such as walking. Beyond its functional aspect, footwear has evolved into a fashion accessory, allowing individuals to express their personal style. Specific designs cater to diverse activities, be it athletic endeavors like running and hiking or non-athletic tasks like work-related activities. Commercially available in a broad spectrum of shapes, sizes, and colors, footwear can be personalized with text, logos, and prints. Moreover, it possesses the eco-friendly quality of easy decomposition in the environment, making minimal contributions to landfill wastes and avoiding pollution of water bodies.

Vietnam Footwear Market Trends:

The Vietnam footwear market is currently experiencing significant growth driven by several key drivers and emerging trends. One prominent factor is the country's economic expansion, leading to increased consumer spending and a rising middle class with an inclination towards fashion and lifestyle products. Additionally, the rising number of supply chain has positioned Vietnam as a major player in the footwear manufacturing industry. Besides this, international brands increasingly choose Vietnam as a production hub due to its skilled labor force and cost-effectiveness, boosting the domestic footwear market. Moreover, the emerging trend in the Vietnam footwear market is the focus on sustainable and eco-friendly practices. Consumers are becoming more conscious of the environmental impact of their purchases, leading to a growing demand for shoes made from sustainable materials and produced using environmentally friendly processes. Furthermore, the rise of e-commerce and digital platforms has revolutionized the way consumers shop for footwear. In conclusion, economic growth, international manufacturing partnerships, and the increasing prevalence of online retail are reshaping the industry, offering opportunities for both local and international players. This, in turn, is expected to fuel the Vietnam footwear market over the forecasted period.

Vietnam Footwear Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product, material, distribution channel, pricing, and end user.

Product Insights:

• Non-Athletic Footwear
• Athletic Footwear
   

The report has provided a detailed breakup and analysis of the market based on the product. This includes non-athletic footwear and athletic footwear.

Material Insights:

• Rubber
• Leather
• Plastic
• Fabric
• Others
   

A detailed breakup and analysis of the market based on the material have also been provided in the report. This includes rubber, leather, plastic, fabric, and others.

Distribution Channel Insights:

• Footwear Specialists
• Supermarkets and Hypermarkets
• Departmental Stores
• Clothing Stores
• Online Sales
• Others
   

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes footwear specialists, supermarkets and hypermarkets, departmental stores, clothing stores, online sales, and others.

Pricing Insights:

• Premium
• Mass
   

A detailed breakup and analysis of the market based on the pricing have also been provided in the report. This includes premium and mass.

End User Insights:

• Men
• Women
• Kids
   

The report has provided a detailed breakup and analysis of the market based on the end user. This includes men, women, and kids.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the key players include:

• 361º Vietnam
• adidas Vietnam Company Limited
• ALDO Vietnam
• An Viet Song Hong Joint Stock Company (Anta Sports)
• ASICS Vietnam LLC
• Binh Tien Imex Corp Pte.Ltd.
• Converse Vietnam
• Li-Ning
• Mizuno
• Nike Inc.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Vietnam Footwear Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam footwear market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Vietnam footwear market?
• What is the breakup of the Vietnam footwear market on the basis of product?
• What is the breakup of the Vietnam footwear market on the basis of material?
• What is the breakup of the Vietnam footwear market on the basis of distribution channel?
• What is the breakup of the Vietnam footwear market on the basis of pricing?
• What is the breakup of the Vietnam footwear market on the basis of end user?
• What are the various stages in the value chain of the Vietnam footwear market? 
• What are the key driving factors and challenges in the Vietnam footwear?
• What is the structure of the Vietnam footwear market and who are the key players?
• What is the degree of competition in the Vietnam footwear market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam footwear market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam footwear market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam footwear industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.