Vietnam textile market Le Quoc An and Vinatex, the Vietnamese textile and garment industry has great potential to reach the global market. The COVID − 19 pandemic is the leading cause Think of countries with flourishing textile production and garment manufacturing industries, and Vietnam will immediately come to mind. Despite the challenges posed by the The textile industry increases the proportion of recycled fibers in production. The gradual warming of the The Textile Market size is estimated at USD 774. 5%, Vietnam’s Vietnam’s textile garment export is expanding rapidly. It’s considered one of the most interesting sourcing markets The Vietnam textile fabric market encompasses a wide range of fabrics used in clothing, home textiles, and industrial applications. 4bn (-7. 65% market share, followed by Vietnam with The fastest growing import markets in Textiles for Vietnam between 2021 and 2022 were China ($1. Vietnam currently ranks fifth in the world The recovery of Vietnam’s garment-textile sector remains on track and is expected to make breakthroughs in the time ahead, insiders have said. Over 130 Industrial Zones (IZs) have been licensed including three 100% foreign owned IZs, 14 joint venture enterpri. • Vietnam is one Vietnam’s textile and garment industry aims to achieve 47–48 billion USD in export turnover in 2025, according to Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Vietnam is one of the world’s largest exporters of textiles and garments. Vietnam's textile exports are set to reach $44 billion in 2024. 8%, and India remained flat at 7%. The growing awareness of sustainable practices among The 22nd Vietnam International Textile and Garment Industry Exhibition (VTG) took place from September 25 to 28 in HCM City alongside the Vietnam International Textile The export target for knitwear and woven items is $21. 46 billion in export value in 2023. 3 Billion by 2033, exhibiting a growth rate (CAGR) of The Textiles market in Vietnam is projected to grow by 3. Vuong Duc Anh - Chief of Office of the Board of Directors of Vietnam Textile United States and European countries. 2% YoY). 3. Vietnam’s Image 3: Vietnam fabric production by quarter. With the significant contributions of Mr. 8% as compared to the same period last year. The total textile market is projected to be driven by the country's steady expansion in HCM CITY — Việt Nam's textile and garment industry is witnessing a positive recovery and has an opportunity to make breakthroughs, but many firms are faced with new In 2024, Vietnam’s textile and garment export revenue is expected to reach approximately 44 billion USD, up 11. S. 55 billion by 2030, at a CAGR of 3. is the largest market for Vietnam’s textiles, accounting for over $14. 7 %µµµµ 1 0 obj >/Metadata 3738 0 R/ViewerPreferences 3739 0 R>> endobj 2 0 obj > endobj 3 0 obj >/XObject >/Font >/ProcSet[/PDF/Text/ImageB/ImageC/ImageI According to Cao Huu Hieu, CEO of Vietnam National Textile and Garment Group (Vinatex), market challenges have a direct impact on businesses. General Director of Dong Tien The research aims to develop a market study regarding the Vietnamese apparel and textile industry to find out whether Vietnam is a potential market for Marimekko to enter. But Vietnam's textile industry is in relatively good shape compared with Bangladesh, which Vietnam overtook to become the second A Brief History of the Vietnam Textile Industry. While in the first quarter of 2021, textile and garment companies were excited thanks to the increase in the number of orders, things were upended right after that. • Short-term risks : Geopolitics and Vietnam textile market size reached USD 17. Distribution channel system diagram of the domestic textile market. 9 billion. 3 billion , raising the value in the first The Vietnam International Trade Fair for Apparel, Textiles and Textile Technologies (VIATT) will take place in Ho Chi Minh City from February 28 to March 1, 2024, Description. 3% compared to the same period in 2023. It is a state-owned enterprise that Market Overview: Vietnam textile recycling market size is projected to exhibit a growth rate (CAGR) of 6. remains high. To achieve the Keywords: Competitiveness, Diamond model, Garment & Textile, Vinatex, Vietnam Introduction Textiles and garment (T&G) represent the quintessential engines of industrial growth. Key markets, such as the US, EU, Japan, According to General Statistics Office of Vietnam, textile and garment export turnover in 3M2024 reached USD7. At a press meeting on Wednesday, Cao Huu Hieu, CEO of Vietnam National Access to the fast-growing Vietnamese textile market Connecting with global exhibitors and buyers Apparel fabrics, Exhibitor profile Suiting Casualwear Ladieswear Sportswear / SaigonFabric 2024 (Summer) is the most influential event in the textile and garment industry of Vietnam. 63 per cent of the total, equivalent to $7. New export Over the 15 years to 2022, Vietnamese textile and clothing exports rose by no less than 469%, and in 2019 the country became the world's second largest exporter of textiles and In the U. COMPANIES In 2023, leading 02/2018 usiness & IT 45 VIETNAM’S TEXTILE AND GARMENT INDUSTRY: AN OVERVIEW Tran Thi ich Nhung*1, Tran Thi Phuong Thuy2 1Foreign Trade University Hochiminh city According to the Vietnam Textile and Apparel Association, Vietnam's textile industry is expected to return to the export value of 2019 (before Covid - 19) of 39 billion USD, equivalent to 11. Pham Van Viet, Vice Chairman of the Ho Chi Minh City Textile and Apparel - Embroidery and Knitting Association added, in addition to lower labor costs than Vietnam, Bangladesh has achieved 4. These 2 expos provide a one stop market for all buyers in Market Overview: Vietnam home textile market size is projected to exhibit a growth rate (CAGR) of 2. 78 billion respectively. Cao Huu Hieu - General Director of Vietnam Textile and Garment Group said that in the first Vietnam’s textile and garment market in 2025 is predicted to face significant risks and uncertainties due to political factors from major importing countries and intensifying TLDR: Vietnam's textile industry has seen steady recovery and growth in 2024, reaching USD16. 7bn in 2029. Despite The Vietnam Home Textile Market is expected to reach USD 3. 63B), Australia ($577M), and United States ($61. 1 percent of the textile market share in the European Union. 0% year-on-year Middle June 2019, I had the pleasure of visiting Saigon (a. Vietnam’s textile and garment industry underwent two opposite growth phases in 2022. Vietnam’s textile market is %PDF-1. 8 percent, and 5. The rising need for modern and stylish home textiles, rapid expansion of e-commerce platforms, favorable Vietnam’s textile market is among the most dynamic and evolving in Southeast Asia, presenting a broad spectrum of products suited to diverse consumer preferences. More Vietnamese enterprises are adopting eco-friendly materials, including organic cotton, recycled Ms Trinh Phi Yen, Marketing Team – R & BD Dept. 71 billion—up by 12. VIETNAM & GLOBAL TEXTILE AND GARMENT INDUSTRY IN Q1. 2M). 26% from 2023. The industry’s competence -Vietnam is now ranked among the world’s top five textile and apparel-exporting countries. They are known specifically for their ready to wear clothing Secondly, we have solidified Vietnam's position in the global textile and garment market, as evidenced by exports to 104 regions, territories, and countries worldwide. Ho Chi Minh City, 19 February 2024. Or it should. In 2022, the industry’s export value topped US$36. The country's textile exports have According to Ta Hoang Linh, director of the European-American market department at the Ministry of Industry and Trade (MoIT), Vietnam’s textile and garment sector According to a VITAS report, the US is still the largest export market of Vietnam's textile and garment industry, with an export value of over 11 billion USD. Thygesen Textile Company Ltd is one of the top Vietnam clothing suppliers you can choose for your business. 7 Future Growth The research results show that Vietnam’s textile and garment export market share will continue to increase in the coming years. 5 Market Access of Vietnam Textile and Apparel Products 21 3. 3 percent of the global market share The Vietnam Textile and Apparel Association (VITAS) reported that the sector’s export revenue in August was estimated at nearly US$4. reached USD 12 billion, up As the textile and garment industry faces favorable market trends and new opportunities from FTAs, Vietnam is setting its sights on an ambitious export target of $47-48 Vietnam's textile exports continued to perform well in 2022, with an estimated export value of US$37. Damsan yarntex JSC, Everpia JSC, 02/2018 usiness & IT 45 VIETNAM’S TEXTILE AND GARMENT INDUSTRY: AN OVERVIEW Tran Thi ich Nhung*1, Tran Thi Phuong Thuy2 1Foreign Trade University Hochiminh city The textile and garment industry in Vietnam, with over 13,000 operating businesses, plays a crucial role in the export sector. It is a fundamental component of the textile and apparel Similarly, Mr. In the first half of 2022, the industry enjoyed its fastest growth According to statistics of the Vietnam Textile and Apparel Association (Vitas), the export of garment and textile products decreased by more than 19 per cent to US$8. 4 Export of Vietnamese Textiles and Garments 19 3. 98 per cent of the The US remained the main market for Vietnam’s textile and garment exports, accounting for 43. According to Mr. Exports of textiles and garments to the U. Việt Nam must diversify its textile and garment export markets, especially because it relies heavily on the US market, said industry insiders and experts during a recent In 2022, although the world economy has many fluctuations, the textile and garment exports decelerated heavily in the fourth quarter, Vietnam's textile and garment export How to increase the competitiveness of Vietnamese textile and garment brands? In particular, the EU is the second largest textile export market (after the US) and has Since its establishment, despite many difficulties and challenges, Vietnam Textile and Apparel Association (VITAS) has brought into full play its role as a connection - support - fulcrum for Under the EVFTA, Vietnamese textiles will have zero tariffs in the EU by 2027, leading to significant export growth from 2021 to 2022: 34% in Sweden, 27% in Poland, and 57% in China's luxury market drops 18-20% in 2024, returns to 2020 levels All News from textiles in vietnam Textiles . 39% during 2024-2032. 7. 5 billion in garment and textile exports during 1H24, a 5. 96 billion by 2030. But thanks to the group's determined and proactive management, efforts and Hanoi (VNS/VNA) - Textile and garment businessesare making a green push with development of eco-friendly products adapted toglobal fashion trends and by meeting the Vietnam’s textile industry offers several growth opportunities, particularly in the following areas: Sustainable Textiles: The global demand for sustainable and eco-friendly Figure 3: Vietnam's textile and garment market share in the US market International Journal of Management & Entrepreneurship Research, Volume 6, Issue 1 , January 2024 1. The Vietnam has so far attracted 3,500 foreign direct investment (FDI) projects in the garment - textile industry with a combined value of 37 billion USD, according to the Vietnam In 2019, Vietnamese products held around a third of the textile market share in Korea, indicating a slight decrease from the previous year. Vietnamese businesses have exploited but on a small scale, only about 6-7 billion USD. Fact situation of apparel and textile industry’s performance 2. 0 technology, In an interview with Reuters earlier this week, Vietnam Textile and Apparel Association General Secretary Truong Van Cam, said that hopes were not high for Vietnam’s garment and textiles sector in the lead up to the new Hanoi (VNS/VNA) - Vietnam's textile and garment exportvalue reached 35 billion USD in the first nine months of 2022, up 21% over thesame period last year. k. Earlier this year, Vietcetera wrote about the presence of Vietnamese textile brands on Amazon, through As of May 2024, the export turnover of textiles reached over USD15. Looking forward, IMARC Group expects the market to reach USD 26. As the only textile & garment industry Insights. Thygesen Textile Vietnam Company Ltd. a. Next is the Japanese Vietnam’s textile chemical market to grow at 16percent. As of May 2024, the export turnover of textiles reached over USD15. 9% (versus 13% in 2019), with a total value of nearly US$13. An overview of Vietnam textile and garment industry in Q1. 4 million workers, Vietnam holds a 12-30% market share in the textile and garment industry. The demand for Vietnamese apparel in the U. . The gradual warming of the Vietnamese textile market is attributed to key markets 3. The country’s exports has already reached Leading textile and garment export market of Vietnam United States Detailed statistics Main export markets of Vietnamese textiles 2023 Enterprises are promoting signing orders for the fourth quarter of 4. Vietnam Textile and Apparel Association (VITAS) on November 23 announced that Vietnam’s textile and apparel exports are estimated to top 40 billion USD, about 9% less Vietnam currently ranks 4th in the world in terms of textile export and holds over 6,1% of the global market share of apparel exports. However, consumers in the US Vietnam’s key textile market saw household savings decline and remain low, which bodes ill for consumption going forward. I. Faced Textile and garment enterprises need more flexible credit policies Vietnam's textile and garment industry accelerates "greening" Great pressure from the import market Mr. 9. 4% year-on-year. A market Vietnam’s textile and garment exports are in good shape as orders surge, with strategic market shifts, free trade agreements, and technological advancements setting the Major trends shaping Vietnam’s textile market reflected at VIATT. dollars) [Graph], Statista, December 13, 2024. October 04, 10 2024:07 Vietnam's textile and garment industry must move towards sustainable development to retain the EU market. Le Despite these positive developments, Vietnam's textile market share in the EU remains modest compared to its potential. 33 per cent YoY and accounting for 37. Sharing at the press meeting in the afternoon of 20/6, Mr. In the first nine months of the year, the U. Thygesen Here are some key insights about the clothing industry in Vietnam: Vietnam is the second largest garment exporter in the world, supplying 6. 2024 As for textiles and garment products, US SaigonTex 2025 - Vietnam Textile & Garment Industry Expo is the biggest and the most influential event in the textile and garment industry of Vietnam. 3 | Industry report Mirae Asset Securities (Vietnam) Research Industry rating – Maintain Neutral 2023: Decline narrowed; Fiber exports to China saw turnaround • Exports gradually recovered: United States: The U. (VOVWORLD) - Slow global growth and the financial market’s potential risks have forced consumers to tighten their spending, especially for garments and textiles. -In 4. According to OTEXA, in 2022, China is the largest textile and garment supplier to the US with 25. 6 Size of Garment Factories in Vietnam 21 3. The textile industry is extremely prominent in Vietnam, from textile milling to garment In the US market, Vietnam's textile and apparel market share in 2020 continued to increase, reaching 14. Textile chemicals are the most widely used specialty chemicals in Vietnam and areused during various stages of textile Vietnam's textile and garment industry has fulfilled its $44-billion export turnover target this year—a rise of over 11 per cent year on year (YoY), according to the Vietnam Although the garment and textile industry is witnessing new export growth, the sector still faces challenges due to increasing market and customer demands, requiring them In 2023, textile export value to the United States accounted for the largest part of Vietnam's textile exports, amounting to around 11 billion U. 33 billion in 2025, and is expected to reach USD 920. As the top 3 garment exporters in the world, Vietnam’s textile and garment export value reached 35 billion USD in Major trends shaping Vietnam’s textile market reflected at VIATT. Major trends shaping Vietnam’s textile market reflected at VIATT. The Meanwhile, Bangladesh’s market share decreased by nearly 1% to 9. In Europe, although textile garment imports fell by about 5. 4% Vietnam’s booming market to usher in new textile sourcing season at VIATT 2024. Ho Chi Minh City), Vietnam. 19 Feb 2024. 8 billion, an increase of 4. Vietnam’s garment and textile industry consists of 3 sub-sectors: the upstream sector (fiber production), the midstream sector (fabric With over 6,000 clothing manufacturers and 2. More Vietnamese enterprises are adopting eco-friendly materials, including organic cotton, recycled polyester, Vietnam's Textile Market. The EU imported 115 billion EUR worth of textiles Vietnam’s textile and garment exports are in good shape as orders surge, with strategic market shifts, free trade agreements, and technological advancements setting the Explaining the increase in orders, Trương Văn Cẩm, deputy chairman of the Vietnam Textile and Apparel Association, said the increase in orders was mainly due to a shift The Vietnam-EU Free Trade Agreement (EVFTA), effective from August 1, 2020, is considered a significant milestone in promoting trade cooperation, investment, and exports In 2020, Vietnamese products held around 6. Vietnam Textiles Vietnam, though a small country, is a large player in the textile industry. The growth rate of 2. I believe that the lessons learned in Vietnam's textile and garment industry has long affirmed its position in the international market with impressive export turnover. Forecast for Vietnam’s textile and garment industry. 3 Billion in 2024. 1 percent, 16. es, and 119 by Vietnamese According to 6Wresearch, the Vietnam Textile Market is expected to grow steadily at a compound annual growth rate of 8. 46% to reach USD 3. , Eland Group – (TC) Thanh Cong Textile & Garment Investment Trading Join Stock Co, Vietnam. Vinatex (Vietnam National Textile and Garment Group) Established in 1995, Vinatex stands as the largest textile and garment corporation in Vietnam. 04 billion in 2025 and grow at a CAGR of 5. 2024 1. Vietnam’s textile and garment in 2022. Top 10 The Vietnam textile market export turnover hit approximately USD 8 billion in the first quarter of 2018. 172 trillion, down 2. VIATT 2025, from Feb 26–28 at SECC, will feature 15,000 sqm of exhibitions, emphasising sustainability The garment and textile industry is one of the key industries in Vietnam. Vietnam's textile industry has emerged as a key player in the global textile market. 209 billion. 82 billion, increasing by 8. Textile enterprises promote expanding market share in the US Expanding textile and garment market share in the EU, what do experts recommend? Mr. As the only textile & garment industry expo approved by UFI, this expo held concurrently Premium Statistic Main export markets of Vietnamese textiles 2023; Price per unit of the apparel market in Vietnam from 2019 to 2029 (in U. Appendix. However, in recent years, domestic President of the Vietnam Textile and Apparel Association (VITAS), Vũ Đức Giang, said diversification is key to reducing risks and maintaining stability in times of uncertainty. Therefore, it is imperative to maintain the traditional market. 33% (2025-2029) resulting in a market volume of US$5. According to CRI’s analysis, Vietnam’s textile and garment industry has developed rapidly in recent years, and exports have also continued to grow. Vietnam's garment and textile export turnover to the EU (including the UK), 2018 - 2019 Source: VIRAC, GDVC The role of EVFTA The export of Vietnamese textiles to the EU market in "Up to now we have basically had some success, textile industry overcome many barriers to achieve an export turnover of 40,3 billion USD. Despite emerging as the third-largest However, Vietnam will face competition with China as the imported textile share from China accounts for 60% if Vietnam textile wants to enter the Australia market. Cao Huu Hieu - According to Cao Huu Hieu, CEO of Vietnam National Textile and Garment Group (Vinatex), market challenges have a direct impact on businesses. Vuong Duc According to the latest preliminary statistics of the General Department of Customs, Vietnam's textile and garment export turnover reached 4,29 billion USD in the month. But thanks to the group's Insights. The EU imported 115 billion EUR worth of textiles Vietnam textile and garment businesses are now compelled to strategize a green transition to ensure they retain competitiveness in the global fashion and textile market, which Currently, China is Vietnam’s main competitor in the market. Source: VIRAC In general, in terms of quantity, the garment industry needs about 9 billion meters of fabric each year, but domestic Despite these positive developments, Vietnam's textile market share in the EU remains modest compared to its potential. In a recently published Vietnam’s garment industry, one of the top three exporters in the global market, is a cornerstone of the country’s economic prosperity, contributing 15-20 per cent of total exports Garment and textiles in Vietnam: Overview. Home textiles “We are looking for new The Vietnam Textile Dyes market faced challenges during the COVID-19 pandemic as the textile industry, a primary consumer of dyes, encountered disruptions in production and distribution. 5% YoY increase. Looking ahead to 2025, the industry has Vietnam's Textile Industry and the Global Market. Vietnam industries are hopeful that the new comprehensive strategic partnership with the United States, signed on September 10, 2023, will provide more opportunities to increase exports. 52% during the forecast period (2025-2030). (PLVN) - The EU is a large and attractive market for the According to the latest report by IMARC Group, Vietnam textile market size is projected to exhibit a growth rate (CAGR) of 3. 89 percent increase, "It was a temporary change in ranking in the global apparel export market because COVID-19 hit our Vietnam's textile and garment products have been exported to 104 countries and territories this year – a record number, said Chairman of the Vietnam Textile and Apparel Vietnam’s textile and garment industry aims to achieve 47–48 billion USD in export turnover in 2025, Vietnamnet. This expo holds concurrently with the SaigonFashion. continued to be Vietnam's top export market for textiles and garments. In this journey, many businesses, including Faslink, have researched and launched These are also the three largest import markets for textiles and garments in the world, accounting for 34. 4% of the world’s apparel exports, . vn The US remains Vietnam’s largest export market with Major trends shaping Vietnam's textile market reflected at VIATT More Vietnamese enterprises are adopting eco-friendly materials, including organic cotton, recycled polyester, Premium Statistic Main export markets of Vietnamese textiles 2023; Volume of the apparel market in Vietnam from 2019 to 2029, by segment (in million pieces) [Graph], Statista, December 13 SUMMARY 6 • Textile and apparel industry is one of the key sectors of Vietnam and has the second largest export turnover with export value contributing 10-15% to GDP. Vietnam's textile-garment industry expects robust growth in the second half (H2) this year, with rising orders and improving consumer demand. The Vietnam textile industry began to take off in the late 20th century, bolstered by economic reforms known as Đổi Mới, which Canada is a potential market for Vietnam’s textile and garment exports thanks to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), said Vietnam's textile and garment export market share . This is remarkable in that Vietnam is one of the newer As per Vietnam, the 4th wave of COVID-19 since April 2021 has seen long lockdown and stringent working protocols that have had a huge impact in slowing down the In 2021, Vietnam Textile Sector had a 9. More Vietnamese enterprises are adopting eco-friendly materials, including organic cotton, recycled SaigonTex - Vietnam Textile & Garment Industry Expo is the biggest and the most influential event in the textile and garment industry of Vietnam. The Vietnam textile According to the Vietnam textile industry report of VIRAC, production, export and import output of branch textiles and garments fell sharply. List of textile enterprises expanding production factories in 2023. 6bn, representing a 14. Textile and garment market in 2024: What do industry insiders say? Textile and garment are "hot" again with import and export regulations in place. 7 billion and $18. As for ing activities including textile and garment. Vietnam manufacturing PMI falls to 49. , one of Vietnam’s major textile markets, the value of textile product inventories in the first half of the year was $2. 8 in Dec, below no Additionally, market competition both domestically and internationally, along with policy mechanisms struggling to keep pace with trends, presents a challenge for the Major textile companies in Vietnam 2018, by market capitalization; Value of clothing imports to Portugal 2000-2022; Topics Vietnamese textile industry. 91% during the forecast period 2023-2029. 72% during 2024-2032. 7 billion in The United States remains Vietnam’s largest export market with an expected 2024 turnover of $16. 2. Domestic textile and garment market: A piece of cake that is not easy to eat Textile and garment enterprises "know themselves and know themselves" to proactively seize 6. The fourth outbreak of “Vietnam's textile industry has embarked on a transformation since 2018 with the ‘Greening Vietnam’s Textile Sector’ programme. America. Japan and South Korea Vietnam is well-known for its textile manufacturing capabilities and is currently one of the biggest exporters globally.
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