In 2023, Vietnam's cotton domestic consumption was recorded at 6.7 million units (480 lb. Bales). The forecasted data for 2024-2028 shows a consistent upward trend in consumption, starting at 6.75 million units in 2024 and reaching 6.94 million units by 2028. The year-on-year percentage variations are approximately 0.74% from 2024 to 2025, 0.74% from 2025 to 2026, 0.58% from 2026 to 2027, and 0.73% from 2027 to 2028. Over the last two years, the average variation per year is about 0.73%. The Compound Annual Growth Rate (CAGR) over the five-year period indicates a steady growth in cotton consumption in Vietnam.
Future trends to watch for include potential impacts of trade policies on cotton imports, advances in textile manufacturing technologies in Vietnam, and changing global demand for cotton-based products. Monitoring domestic economic conditions and international cotton prices will also be crucial in understanding the trajectory of cotton consumption in Vietnam.
