The Vietnamese market for footwear outer soles and heels made of rubber or plastic reached a value of $335.44 million in 2023. Over the past decade, the market has experienced fluctuating growth, with notable declines in 2017, 2018, and 2020. However, the market rebounded from these downturns, attaining positive year-on-year growth of 1.3% in 2023. The compound annual growth rate (CAGR) over the last five years stands at 1.75%, indicating modest but steady growth.
Future trends to watch for in this market include:
- Increasing demand for sustainable and eco-friendly materials in footwear production.
- Growing local and international competition, intensifying price pressures.
- Adoption of advanced manufacturing technologies to enhance production efficiency and product innovation.
| # | 16 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 2,567,600,000 | 2023 | +2.14% | +2.49% | View data |
| 2 | 2 Vietnam | 335,440,000 | 2023 | +1.3% | +1.75% | |
| 3 | 3 Japan | 166,100,000 | 2023 | -8.09% | -7.86% | View data |
| 4 | 4 Germany | 161,110,000 | 2023 | -1.43% | -1.59% | View data |
| 5 | 5 France | 100,700,000 | 2023 | -2.86% | -2.68% | View data |
