The import of physical exercise, gymnasium, and athletics equipment to Vietnam has shown a steady increase over the past decade. Actual data indicate that imports grew from 2.3864 million kilograms in 2013 to 7.8587 million kilograms in 2023. The year-on-year variation demonstrated significant growth, particularly between 2015 and 2016 with a 46.77% increase. However, the growth rate moderated in recent years, with a 4.63% increase in 2023. The compound annual growth rate (CAGR) over the last five years is observed at 5.38%, highlighting a consistent yet slowing growth trajectory. The forecast suggests this CAGR will decrease to 3% over the next five years, projecting a total growth rate of 15.95% by 2028.
Future trends to watch for:
• Continued focus on health and fitness may bolster import growth.• Increased consumer awareness and disposable incomes may drive demand.• Potential market saturation could lead to a slower import growth rate.• Technological advancements in fitness equipment may influence market dynamics.
