Vietnam: Quilted Textile Products Market 2024

Quilted Textile Products Market Size in Vietnam

The Vietnamese quilted textile products market expanded notably to $X in 2021, with an increase of 11% against the previous year. Over the period under review, consumption posted a prominent expansion. Quilted textile products consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Quilted Textile Products Production in Vietnam

In value terms, quilted textile products production surged to $X in 2021 estimated in export price. In general, production enjoyed a significant expansion. The growth pace was the most rapid in 2018 when the production volume increased by 124% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Quilted Textile Products Exports

Exports from Vietnam

In 2021, exports of quilted textile products in the piece (excluding embroidery) from Vietnam soared to X tons, increasing by 1,250% on the previous year's figure. In general, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, quilted textile products exports skyrocketed to $X in 2021. Over the period under review, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia (X tons), China (X tons) and Cambodia (X tons) were the main destinations of quilted textile products exports from Vietnam, with a combined 88% share of total exports. Sri Lanka and the United States lagged somewhat behind, together comprising a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of +233.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for quilted textile products exported from Vietnam were Indonesia ($X), China ($X) and Cambodia ($X), together accounting for 88% of total exports. Sri Lanka and the United States lagged somewhat behind, together comprising a further 12%.

Sri Lanka, with a CAGR of +202.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average quilted textile products export price amounted to $X per ton, waning by -46.2% against the previous year. In general, the export price, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by 109%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then reduced markedly in the following year.

Average prices varied noticeably for the major foreign markets. In 2021, the countries with the highest prices were the United States ($X per ton) and Cambodia ($X per ton), while the average price for exports to Indonesia ($X per ton) and Sri Lanka ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+26.8%), while the prices for the other major destinations experienced more modest paces of growth.

Quilted Textile Products Imports

Imports into Vietnam

In 2021, after two years of decline, there was significant growth in overseas purchases of quilted textile products in the piece (excluding embroidery), when their volume increased by 6.8% to X tons. Overall, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 76% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, quilted textile products imports rose remarkably to $X in 2021. In general, imports recorded strong growth. The most prominent rate of growth was recorded in 2014 when imports increased by 102%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of quilted textile products to Vietnam, with a 62% share of total imports. Moreover, quilted textile products imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. Japan (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +23.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-1.4% per year) and Japan (+9.3% per year).

In value terms, China ($X) constituted the largest supplier of quilted textile products in the piece (excluding embroidery) to Vietnam, comprising 61% of total imports. The second position in the ranking was taken by South Korea ($X), with a 12% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +21.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-2.5% per year) and Japan (+8.7% per year).

Import Prices by Country

The average quilted textile products import price stood at $X per ton in 2021, with an increase of 3.9% against the previous year. Overall, the import price, however, showed a slight curtailment. The pace of growth appeared the most rapid in 2014 an increase of 15% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Taiwan (Chinese) ($X per ton) and Italy ($X per ton), while the price for South Korea ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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