Report Update Nov 1, 2024

Vietnam - Men's or Boys' Clothing (Knitted or Crocheted) - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Men Knitwear Market 2024

Men Knitwear Market Size in Vietnam

In 2022, the Vietnamese men knitwear market decreased by -6.4% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, saw a deep slump. Men knitwear consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Men Knitwear Production in Vietnam

In value terms, men knitwear production fell to $X in 2022 estimated in export price. Over the period under review, production continues to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 43%. Men knitwear production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Men Knitwear Exports

Exports from Vietnam

In 2022, approx. X units of men's or boys' clothing (knitted or crocheted) were exported from Vietnam; picking up by 45% compared with the previous year's figure. Over the period under review, exports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of 47% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, men knitwear exports soared to $X in 2022. Overall, exports showed a remarkable increase. The growth pace was the most rapid in 2015 with an increase of 39% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for men knitwear exports from Vietnam, accounting for a 67% share of total exports. Moreover, men knitwear exports to the United States exceeded the volume sent to the second major destination, Japan (X units), more than tenfold. The third position in this ranking was taken by South Korea (X units), with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +18.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+17.0% per year) and South Korea (+42.9% per year).

In value terms, the United States ($X) remains the key foreign market for men's or boys' clothing (knitted or crocheted) exports from Vietnam, comprising 53% of total exports. The second position in the ranking was taken by Japan ($X), with a 6.8% share of total exports. It was followed by South Korea, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +16.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+13.7% per year) and South Korea (+19.5% per year).

Export Prices by Country

The average men knitwear export price stood at $X per unit in 2022, reducing by -17% against the previous year. Over the period under review, the export price saw a slight setback. The growth pace was the most rapid in 2020 when the average export price increased by 69%. As a result, the export price reached the peak level of $X per unit. From 2021 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 China ($X per unit), while the average price for exports to the United States ($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 China (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Men Knitwear Imports

Imports into Vietnam

In 2022, supplies from abroad of men's or boys' clothing (knitted or crocheted) decreased by -0.7% to X units, falling for the ninth consecutive year after two years of growth. Over the period under review, imports continue to indicate a perceptible setback. The growth pace was the most rapid in 2013 when imports increased by 49%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, men knitwear imports dropped to $X in 2022. Overall, imports saw a abrupt contraction. The pace of growth appeared the most rapid in 2013 with an increase of 31% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of men knitwear to Vietnam, accounting for a approx. 99% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -4.4%.

In value terms, China ($X) constituted the largest supplier of men's or boys' clothing (knitted or crocheted) to Vietnam.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -10.5%.

Import Prices by Country

In 2022, the average men knitwear import price amounted to $X per unit, shrinking by -11.6% against the previous year. Overall, the import price saw a abrupt slump. The most prominent rate of growth was recorded in 2014 when the average import price decreased by -0.9%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -6.4% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for men's or boys' clothing (knitted or crocheted) in the world?

The countries with the highest volumes of in 2021 were China, the United States and Brazil, with a combined 42% share of global consumption.

What are the largest producers of men's or boys' clothing (knitted or crocheted) in the world?

The country with the largest volume of men knitwear production was China, accounting for 33% of total volume. Moreover, men knitwear production in China exceeded the figures recorded by the second-largest producer, Bangladesh, fourfold. Pakistan ranked third in terms of total production with a 5.5% share.

What are the leading suppliers of men's or boys' clothing (knitted or crocheted) to Vietnam?

In value terms, Spain, Hong Kong SAR and Malaysia were the largest men knitwear suppliers to Vietnam, together comprising 72% of total imports.

What are the leading importers of men's or boys' clothing (knitted or crocheted) from Vietnam?

In value terms, the United States remains the key foreign market for men knitwear exports from Vietnam, comprising 70% of total exports. The second position in the ranking was occupied by Japan, with an 8.5% share of total exports. It was followed by Canada, with a 5.8% share.

What is the average export price for men's or boys' clothing (knitted or crocheted) in Vietnam?

The average men knitwear export price stood at $9.7 per unit in 2021, with an increase of 14% against the previous year.

What is the average import price for men's or boys' clothing (knitted or crocheted) in Vietnam?

In 2021, the average men knitwear import price amounted to $11 per unit, reducing by -6.6% against the previous year.

This report provides an in-depth analysis of the men knitwear market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 14131110 - Men
Prodcom 14131120 - Men
Prodcom 14131230 - Men
Prodcom 14131260 - Men
Prodcom 14131270 - Men

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023