Vietnam: Waterproof Footwear Market 2024

Waterproof Footwear Market Size in Vietnam

The Vietnamese waterproof footwear market contracted slightly to $X in 2022, standing approx. at the previous year. Over the period under review, consumption showed a pronounced downturn. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Waterproof Footwear Production in Vietnam

In value terms, waterproof footwear production shrank to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 56% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Waterproof Footwear Exports

Exports from Vietnam

In 2022, approx. X pairs of waterproof footwear were exported from Vietnam; with a decrease of -8.6% on 2021 figures. Over the period under review, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 248%. As a result, the exports reached the peak of X pairs. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, waterproof footwear exports fell to $X in 2022. Overall, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 183% against the previous year. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

The United States (X pairs) was the main destination for waterproof footwear exports from Vietnam, with a 41% share of total exports. Moreover, waterproof footwear exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X pairs), twofold. Japan (X pairs) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+55.9% per year) and Japan (-7.5% per year).

In value terms, the United States ($X) remains the key foreign market for waterproof footwear exports from Vietnam, comprising 51% of total exports. The second position in the ranking was taken by Japan ($X), with a 9.9% share of total exports. It was followed by the Netherlands, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +39.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-8.7% per year) and the Netherlands (+52.3% per year).

Export Prices by Country

In 2022, the average waterproof footwear export price amounted to $X per pair, shrinking by -3.8% against the previous year. Overall, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, waterproof footwear export price increased by +63.2% against 2017 indices. The pace of growth was the most pronounced in 2019 an increase of 26% against the previous year. The export price peaked at $X per pair in 2021, and then declined slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per pair), while the average price for exports to the Netherlands ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Waterproof Footwear Imports

Imports into Vietnam

In 2022, supplies from abroad of waterproof footwear decreased by -16.1% to X pairs for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2015 with an increase of 952%. Over the period under review, imports hit record highs at X pairs in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, waterproof footwear imports dropped notably to $X in 2022. In general, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2015 when imports increased by 990% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X pairs) constituted the largest supplier of waterproof footwear to Vietnam, accounting for a 85% share of total imports. Moreover, waterproof footwear imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X pairs), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-6.2% per year) and Australia (+26.8% per year).

In value terms, China ($X) constituted the largest supplier of waterproof footwear to Vietnam, comprising 80% of total imports. The second position in the ranking was held by Thailand ($X), with a 10% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-2.5% per year) and Australia (+24.6% per year).

Import Prices by Country

The average waterproof footwear import price stood at $X per pair in 2022, falling by -14% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 106%. The import price peaked at $X per pair in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per pair), while the price for China ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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