PROSPECTS AND OPPORTUNITIES
Footwear expected to grow gradually thanks to brighter economic performance
Over the forecast period, footwear in Vietnam is expected to increase in both retail volume and current value terms, in line with an expected better economic performance, and an increase in the number of inbound tourists travelling to and within Vietnam. According to the World Bank’s 2024 forecast, Vietnam’s GDP is expected to see 6.
The presence of eco-friendly footwear expected to increase in Vietnam
The net zero lifestyle has become a trend in Vietnam, and therefore over the forecast period sustainable footwear which incorporates green and recycled materials will continue to receive attention from both manufacturers and consumers. As a result, more companies and brands, both new and existing, are projected to introduce eco-friendly footwear to respond to the expected rise in demand for sustainable products amongst Vietnamese consumers in the future.
Sports footwear set to record dynamic growth moving forward
Over the forecast period, the government is expected to regularly organise more sports events across Vietnam as a solid strategy to boost international and domestic tourism – for instance, Mau Son Mounts Paths Race, Quang Binh Discovery Marathon, and Ta Nang Trail Challenge are due to be held in 2025. This, in turn, is expected to increase the demand for sports footwear in the country.
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Overview:
Understand the latest market trends and future growth opportunities for the Footwear industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Footwear industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Footwear in Vietnam report includes:
- 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
This report answers:
- What is the market size of Footwear in Vietnam?
- Which are the leading brands in Vietnam?
- How are products distributed in Vietnam?
- How is the rise of e-commerce shaping demand?
- What % of apparel and footwear sales are made via grocery retailers?
- Do consumers want premium quality or fast fashion?
- How will COVID-19 and recession impact demand?
- How important is sustainability in Footwear in Vietnam?
- Where is future growth expected to be most dynamic?
Footwear in Vietnam - Category analysis
KEY DATA FINDINGS
Inflation and slower economic performance prevent volume growth of footwear
Children’s footwear records the fastest growth rates in 2024
Retail e-commerce continues to grow its share of sales of footwear in Vietnam
Footwear expected to grow gradually thanks to brighter economic performance
The presence of eco-friendly footwear expected to increase in Vietnam
Sports footwear set to record dynamic growth moving forward
Apparel and Footwear in Vietnam - Industry Overview
Apparel and footwear in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for apparel and footwear?
DISCLAIMER
The following categories and subcategories are included:
Footwear
- Children's Footwear
- Men's Footwear
- Women's Footwear
Footwear
This is the aggregation of children's footwear, men's footwear and women's footwear. Includes all men’s, women’s and children’s outdoor and indoor shoes made of materials as leather, fabric or plastic. Outdoor shoes includes all dress shoes, trainers, sports shoes, sandals, boots, pumps, and high heels. Indoor shoes includes house-shoes and slippers. Items must be new when sold to the consumer; second-hand/used footwear is excluded. Antique and/or vintage footwear is also excluded. Sports footwear (broken out as a separate category) is included in total footwear figure. One pair of footwear constitutes one volume unit.
See all of our definitionsWhy buy this report?
- 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
This report originates from Passport, our Footwear research and analysis database.
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