Vietnam: Hand Sieve Market 2024

Hand Sieve Market Size in Vietnam

The Vietnamese hand sieve market totaled $X in 2022, rising by 4.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a remarkable increase. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Hand Sieve Exports

Exports from Vietnam

After two years of decline, shipments abroad of hand sieves and hand riddles increased by 96% to X units in 2022. Overall, exports, however, saw a drastic downturn. The pace of growth was the most pronounced in 2015 with an increase of 530%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, hand sieve exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of 719%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X units) was the main destination for hand sieve exports from Vietnam, with a 63% share of total exports. Moreover, hand sieve exports to Russia exceeded the volume sent to the second major destination, the Philippines (X units), twofold.

From 2012 to 2022, the average annual growth rate of volume to Russia totaled +58.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+55.9% per year) and Singapore (+54.4% per year).

In value terms, the Philippines ($X) emerged as the key foreign market for hand sieves and hand riddles exports from Vietnam, comprising 54% of total exports. The second position in the ranking was taken by Russia ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the Philippines amounted to +49.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+48.0% per year) and Singapore (+66.6% per year).

Export Prices by Country

In 2022, the average hand sieve export price amounted to $X per unit, declining by -25.7% against the previous year. Overall, the export price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 an increase of 55%. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while the average price for exports to Russia ($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 Singapore (+7.2%), while the prices for the other major destinations experienced a decline.

Hand Sieve Imports

Imports into Vietnam

In 2022, the amount of hand sieves and hand riddles imported into Vietnam skyrocketed to X units, increasing by 15% compared with the year before. In general, imports showed a buoyant expansion. The growth pace was the most rapid in 2014 when imports increased by 230% against the previous year. Over the period under review, imports reached the maximum at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, hand sieve imports stood at $X in 2022. Overall, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 219%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) (X units), India (X units) and China (X units) were the main suppliers of hand sieve imports to Vietnam, with a combined 45% share of total imports. The United States, the UK, Germany, Japan, Belgium and Australia lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +30.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hand sieve suppliers to Vietnam were the United States ($X), India ($X) and Taiwan (Chinese) ($X), together accounting for 42% of total imports. The UK, Germany, China, Japan, Belgium and Australia lagged somewhat behind, together comprising a further 40%.

Germany, with a CAGR of +32.6%, 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 more modest paces of growth.

Import Prices by Country

The average hand sieve import price stood at $X per unit in 2022, dropping by -12.3% against the previous year. In general, the import price continues to indicate a slight decrease. The growth pace was the most rapid in 2013 an increase of 24% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per unit), while the price for Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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