Vietnam: Leather Sports Gloves Market 2024

Leather Sports Gloves Market Size in Vietnam

In 2022, after two years of growth, there was decline in the Vietnamese leather sports gloves market, when its value decreased by -1% to $X. In general, consumption, however, showed a remarkable increase. Leather sports gloves consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Leather Sports Gloves Production in Vietnam

In value terms, leather sports gloves production dropped modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.3% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 20%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Leather Sports Gloves Exports

Exports from Vietnam

In 2022, overseas shipments of leather sports gloves, mittens and mitts increased by 0.4% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 18% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, leather sports gloves exports contracted modestly to $X in 2022. In general, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -21.1% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 43% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for leather sports gloves exports from Vietnam, with a 61% share of total exports. Moreover, leather sports gloves exports to the United States exceeded the volume sent to the second major destination, Japan (X units), more than tenfold. Canada (X units) ranked third in terms of total exports with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled -1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+1.6% per year) and Canada (-2.7% per year).

In value terms, the United States ($X) remains the key foreign market for leather sports gloves, mittens and mitts exports from Vietnam, comprising 54% of total exports. The second position in the ranking was held by Italy ($X), with a 6.5% share of total exports. It was followed by Japan, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+3.7% per year) and Japan (+2.2% per year).

Export Prices by Country

In 2022, the average leather sports gloves export price amounted to $X per unit, approximately equating the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, leather sports gloves export price decreased by -3.3% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 23% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to the Netherlands ($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 South Korea (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Sports Gloves Imports

Imports into Vietnam

In 2022, supplies from abroad of leather sports gloves, mittens and mitts increased by 4.8% to X units for the first time since 2017, thus ending a four-year declining trend. Overall, imports recorded a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 84% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, leather sports gloves imports expanded rapidly to $X in 2022. In general, imports posted a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 71% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Myanmar (X units) was the main leather sports gloves supplier to Vietnam, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Myanmar amounted to +402.4%.

In value terms, Myanmar ($X) constituted the largest supplier of leather sports gloves, mittens and mitts to Vietnam.

From 2012 to 2022, the average annual growth rate of value from Myanmar amounted to +433.8%.

Import Prices by Country

In 2022, the average leather sports gloves import price amounted to $X per unit, approximately reflecting the previous year. In general, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, leather sports gloves import price decreased by -0.6% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of 29%. Over the period under review, average import prices reached the peak figure at $X per unit in 2020; afterwards, it flattened through to 2022.

As there is only one major supplying country, the average price level is determined by prices for Myanmar.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +8.2% per year.

Source: IndexBox Platform

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