Vietnam: Ball Market 2024

Ball Market Size in Vietnam

In 2022, after two years of growth, there was significant decline in the Vietnamese ball market, when its value decreased by -62.8% to $X. Overall, consumption showed a deep setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Ball Production in Vietnam

In value terms, ball production stood at $X in 2022 estimated in export price. Overall, the total production indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +14.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 63% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Ball Exports

Exports from Vietnam

Ball exports from Vietnam surged to X units in 2022, picking up by 41% on the previous year's figure. Overall, exports showed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for ball exports from Vietnam, with a 52% share of total exports. Moreover, ball exports to the United States exceeded the volume sent to the second major destination, Belgium (X units), fivefold. Australia (X units) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+19.7% per year) and Australia (+31.5% per year).

In value terms, the United States ($X) remains the key foreign market for balls exports from Vietnam, comprising 51% of total exports. The second position in the ranking was taken by Belgium ($X), with a 9.6% share of total exports. It was followed by Australia, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +26.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+30.5% per year) and Australia (+41.9% per year).

Export Prices by Country

The average ball export price stood at $X per unit in 2022, with an increase of 3.7% against the previous year. Overall, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +9.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the average export price increased by 42%. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+15.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Imports

Imports into Vietnam

In 2022, overseas purchases of balls decreased by -29.7% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 174%. Imports peaked at X units in 2021, and then declined remarkably in the following year.

In value terms, ball imports totaled $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -20.0% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 120% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X units) constituted the largest supplier of ball to Vietnam, with a 69% share of total imports. Moreover, ball imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand totaled +29.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+28.1% per year) and the Philippines (-1.7% per year).

In value terms, China ($X), Thailand ($X) and the Philippines ($X) were the largest ball suppliers to Vietnam, together comprising 91% of total imports.

China, with a CAGR of +12.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average ball import price stood at $X per unit in 2022, picking up by 43% against the previous year. Over the period under review, the import price, however, faced a abrupt slump. The pace of growth was the most pronounced in 2016 an increase of 57% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-12.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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