Vietnam Textile Industry – Segmented by Type – Growth, Trends and Forecasts (2020 - 2025)

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Vietnam Textile Industry Size

The Vietnam textile industry is expected to grow at a CAGR of 10.82%, in terms of revenue, during the forecast period, 2018-2023. The major factors driving the growth of the market are growing textile exports to EU, the United States, Japan, and South Korea and low labor costs in the industry.

Increasing Textile Exports to US, EU & the Middle-East to Drive the Market

Vietnam is among the top textile producing nations in the world. The country is also the third-largest garment exporter, with major exporting destinations including the United States, EU, Japan, and South Korea. The country is also an apparel exporter with 17% export in 2017. The top export destinations for apparel are China and Bangladesh. Despite abandoning the Trans-Pacific Partnership (TPP), the textile and garment industry exceeded the annual target of USD 30 billion in 2017, according to the Vietnam Textile & Apparel Association. The United States is the largest export destination followed by Europe. The exports to South Korea jumped to USD 2.7 billion in 2017 from USD 1.3 billion in 2011, while exports to Japan and China reached USD 3.2 billion in 2017 from USD 1.8 billion and USD 800 million in 2011 respectively. The country’s export has increased over the years to all the major nations across the globe. The country sets an annual export target of USD 35 billion for 2018. In the first-quarter of 2018, the garment export turnover of the country reached nearly USD 8 billion. The continuous increase in exports from the country is likely to drive the overall textile market.

 Garments Stand out as the Highest Valued Segment

The garments segment accounted for a little over 50% in terms of revenue, in the Vietnam textile market. Garment manufacturing accounts for around 70% of the total apparel and textile sector in Vietnam with CMT (Cut, Make, Trim) being the main method that accounts for about 85% of the total export revenue. The United States, Europe, Japan, and South Korea are the main importers of the country’s textile and garments products. Historically, the United States was the largest importer of Vietnamese textiles and garments, followed by Europe, which has led to a rapid development of the Vietnamese textile and garment industry. Revenue generated from garment and textile exports in Vietnam has increased 3.6 times over the last decade, from USD 7.78 billion, in 2007, to USD 28.32 billion, in 2016, accounting for over 16% of the total export turnover. In 2017, the country’s textile and garment industry exceeded its target of USD 30 billion with an export turnover of over USD 31 billion, an increase of 10.23% over 2016.

                                           Vietnam Textile Industry

Key Developments of Vietnam Textile Industry

  • December 2017: Thanh Cong Textile Garment Investment Trading JSC merged its sewing machine capacity with its parent company, which is likely to increase the production capacity to 24 million pcs / year

Vietnam Textile Industry Major Players

  • Ha Nam Textiles.
  • Thanhcong Textile Garment Investment Trading JSC (TCM).
  • Hanoi Textile And Garment Joint Stock Corporation.
  • TNG Investment & Trading JSC and Hue Textile Garment Joint Stock Company.
  •  others.

Reasons to Purchase Vietnam Textile Industry Report

  • Current and future of the Vietnam textile market
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Identify the latest developments, market shares, and strategies employed by the major Vietnam Textile Industry players
  • 3 months analyst support, along with the Market Estimate sheet (in excel).

Customize Vietnam Textile Industry Report

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1. Introduction

                1.1 Research Phases

                1.2 Study Deliverables

2. Executive Summary

3. Vietnam Textile Industry Insights

                3.1 Industry Value Chain Analysis

                3.2 Industry Attractiveness - Porter's Five Forces Analysis

                                3.2.1 Bargaining Power of Suppliers

                                3.2.2 Bargaining Power of Consumers

                                3.2.3 Threat of New Entrants

                                3.2.4 Threat of Substitute Products and Services

                                3.2.5 Degree of Competition

4. Market Dynamics

                4.1 Vietnam Textile Industry Drivers

                                4.1.1 EU, The United States, Japan & South Korea as the Largest Export Destination

                                4.1.2 Low Cost of Labor Leading to Increased Investment

                4.2 Vietnam Textile Industry Restraints

                4.3 Vietnam Textile Industry Opportunities

                                4.3.1 Government Initiatives to Attract Investment in the Textile Industry

5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)

                5.1 Vietnam Textile Industry By Textile Type

                                5.1.1 Fiber

                                5.1.2 Yarn

                                5.1.3 Fabric

                                5.1.4 Garment

                                5.1.5 Other Textiles

6. Vietnam Textile Industry Competitive Landscape

                6.1 Mergers and Acquisitions, Joint Ventures, Collaborations and Agreements

                6.2 Top Companies in the Market

                6.3 Strategies Adopted by Leading Players

7. Vietnam Textile Industry Companies

                7.1 Kyungbang Vietnam Co. Ltd 

                7.2 Petrovietnam Petrochemical And Textile Fiber Joint Stock Company

                7.3 TNG Investment & Trading JSC 

                7.4 Dotihutex

                7.5 Ha Nam Textile Company 

                7.6 Mirae Joint Stock Company

                7.7 Hue Textile Garment Joint Stock Company

                7.8 Viet Hong Textile & Dyeing J.V.C

                7.9 G Home Textile Investment JSC 

                7.10 Thanh Cong Textile Garment Investment Trading JSC 

                7.11 Hanoi Textile And Garment Joint Stock Corporation 

                7.12 Bitexco Nam Long Joint Stock Company 

                7.13 Dong Quang Spinning Corporation 

                *List Not Exhaustive

8. Disclaimer

**Subject to Availability on Public Domain

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