Vietnam: Men Swimwear Market 2024

Men Swimwear Market Size in Vietnam

In 2021, after three years of growth, there was significant decline in the Vietnamese men swimwear market, when its value decreased by -80.3% to $X. Overall, consumption saw a abrupt decline. Men swimwear consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Men Swimwear Production in Vietnam

In value terms, men swimwear production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production recorded a prominent increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 50% against the previous year. Men swimwear production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Men Swimwear Exports

Exports from Vietnam

In 2021, the amount of men’s swimwear (excluding of knitted or crocheted textiles) exported from Vietnam soared to X units, rising by 36% against 2020 figures. Overall, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 62%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, men swimwear exports skyrocketed to $X in 2021. In general, exports saw a prominent increase. The growth pace was the most rapid in 2018 with an increase of 45% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for men swimwear exports from Vietnam, with a 69% share of total exports. Moreover, men swimwear exports to the United States exceeded the volume sent to the second major destination, Russia (X units), more than tenfold. The Netherlands (X units) ranked third in terms of total exports with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+55.6% per year) and the Netherlands (+23.2% per year).

In value terms, the United States ($X) remains the key foreign market for men’s swimwear (excluding of knitted or crocheted textiles) exports from Vietnam, comprising 64% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 3.8% share of total exports. It was followed by Canada, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +18.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+25.0% per year) and Canada (+6.6% per year).

Export Prices by Country

In 2021, the average men swimwear export price amounted to $X per unit, approximately reflecting the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2016 when the average export price increased by 34% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, 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 Japan ($X per unit), while the average price for exports to Russia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Men Swimwear Imports

Imports into Vietnam

In 2021, after two years of decline, there was significant growth in supplies from abroad of men’s swimwear (excluding of knitted or crocheted textiles), when their volume increased by 53% to X units. Over the period under review, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2018 when imports increased by 155%. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, men swimwear imports soared to $X in 2021. In general, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 190% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of men swimwear to Vietnam, accounting for a 37% share of total imports. Moreover, men swimwear imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), twofold. Bangladesh (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +29.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+45.5% per year) and Bangladesh (+72.9% per year).

In value terms, China ($X) constituted the largest supplier of men’s swimwear (excluding of knitted or crocheted textiles) to Vietnam, comprising 37% of total imports. The second position in the ranking was held by Indonesia ($X), with a 15% share of total imports. It was followed by Bangladesh, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +36.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+53.3% per year) and Bangladesh (+72.9% per year).

Import Prices by Country

The average men swimwear import price stood at $X per unit in 2021, rising by 15% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2014 when the average import price increased by 19%. Over the period under review, average import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were India ($X per unit) and Indonesia ($X per unit), while the price for Italy ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+20.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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