Vietnam Sportswear Market

Market Overview:

Vietnam sportswear market size is projected to exhibit a growth rate (CAGR) of 3.60% during 2024-2032. The increasing athleisure trend, which blends sportswear with casual wear, the rising participation in sports and physical activities, and the growth of e-commerce and online shopping platforms represent some of the key factors driving the market.

Sportswear refers to clothing and attire specifically designed and manufactured for various sports and physical activities. These garments are tailored to provide comfort, flexibility, and performance benefits to individuals engaged in athletic endeavors. Sportswear is not limited to professional athletes but is also widely worn by fitness enthusiasts, recreational sports participants, and individuals leading active lifestyles. It often incorporates moisture-wicking fabrics that draw sweat away from the skin to the outer surface of the clothing, where it can evaporate. This helps in keeping the wearer dry and comfortable during physical activity. It also features fabrics with stretch and elasticity, providing freedom of movement. This is crucial for activities that require flexibility and range of motion, such as yoga, running, and gymnastics. Some sportswear includes compression elements that provide support to muscles and may help improve circulation. Compression garments are commonly used in sports like cycling and weightlifting. Sportswear comes in a wide range of styles, designs, and colors to suit various preferences and fashion trends. Many sportswear brands offer both performance-oriented and athleisure (casual sporty) options.

Vietnam Sportswear Market Trends:

Presently, there is a growing awareness of health and fitness among the Vietnamese population. As more people recognize the importance of leading an active lifestyle and participating in physical activities, the demand for sportswear has surged. Consumers are investing in sportswear as part of their fitness journey, whether it's for gym workouts, running, yoga, or other physical activities. In addition, urbanization in Vietnam has led to changes in lifestyles. People living in urban areas tend to have busier and more active lives, often involving regular exercise and fitness routines. This urban demographic represents a significant market for sportswear as people seek comfortable and stylish attire for their active lifestyles. Besides, the athleisure trend, which blends sportswear with casual wear, has gained popularity in Vietnam. Athleisure attire is not only suitable for workouts but also fashionable for everyday wear. Consumers appreciate the versatility and comfort of athleisure clothing, driving the demand for sportswear in both active and casual contexts. Moreover, the participation in sports and outdoor activities has increased in Vietnam. People are engaging in activities like running, cycling, hiking, and team sports. This trend has fueled the demand for sport-specific apparel and footwear, such as running shoes, jerseys, and hiking gear. Furthermore, the influence of sports culture, including international sporting events and the success of Vietnamese athletes on the global stage, has inspired more people to embrace sports and fitness. This influence translates into higher interest in sportswear as consumers want to emulate their favorite athletes and teams. Additionally, the growth of e-commerce and online shopping platforms has made sportswear more accessible to consumers across Vietnam. Online retailers offer a wide range of sportswear products, making it convenient for customers to browse, compare, and purchase sportswear items from the comfort of their homes.

Vietnam Sportswear 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, distribution channel, and end user.

Product Insights:

• Shoes
• Clothes
   

The report has provided a detailed breakup and analysis of the market based on the product. This includes shoes and clothes.

Distribution Channel Insights:

• Online Stores
• Retail Stores
   

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes online stores and retail stores.

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.

Vietnam Sportswear Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam sportswear market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Vietnam sportswear market?
• What is the breakup of the Vietnam sportswear market on the basis of product?
• What is the breakup of the Vietnam sportswear market on the basis of distribution channel?
• What is the breakup of the Vietnam sportswear market on the basis of end user?
• What are the various stages in the value chain of the Vietnam sportswear market? 
• What are the key driving factors and challenges in the Vietnam sportswear?
• What is the structure of the Vietnam sportswear market and who are the key players?
• What is the degree of competition in the Vietnam sportswear 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 sportswear market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam sportswear 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 sportswear 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.