Vietnam’s footwear market share rises to over 10 percent in 2020: report

Illustrative image (Source: VNA)

Vietnam occupied over 10 percent of share in the world footwear market for the first time in 2020, accoding to the World Footwear Yearbook 2021.

According to the report, which was released by the Portuguese Footwear, Components, Leather Goods Manufacturers' Association (APICCAPS), in 2020, the market share of Vietnam rose from 2 percent to 10.2 percent.

It said that in the year, Vietnam exported about 1.2 billion pairs of shoes. It was followed by Indonesia with 366 million pairs, accounting for 3 percent of the market share.

Meanwhile, China took the top position by providing 7.4 billion pairs of shoes to the market.

Germany surpassed Belgium and Italy to become the biggest footwear exporter in Europe.

The World Footwear Yearbook 2021 showed that in 2020, about 12.1 billion pairs of shoes were provided to the world. Like previous years, Asia was the supply source of the majority of the product, but the continent’s proportion in the total exported shoes in the globe was down. Europe was the only continent that saw a rise in the proportion to nearly 4 percent from 2011.

Chinese was the largest footwear consumption market by buying 3.9 million pairs of shoes, accounting for 20.8 percent of the total products supplied to the market in the year, followed by India with 10.6 percent, the US with 9.6 percent, Indonesia 4.3 percent, and Germany, 2 percent./.