As one of the world’s leading footwear manufacturers, Vietnam Footwear Market ranks second in the world in terms of leather and footwear exports after China. Vietnam exports more than 1 billion pairs of footwear of all kinds of to hundreds of countries around the world every year. In particular, Vietnam’s footwear exports to the EU account for the largest proportion of the total exports.

By the end of 2021, there are about 2,200 enterprises producing footwear in Vietnam, mainly concentrated in the area around Ho Chi Minh City.

According to CRI’s analysis, two giant brands in the global footwear industry, Nike and Adidas, have chosen Vietnam as their main production base. Part of the global footwear chain is gradually shifting from China to Vietnam due to its lower costs. Nike has more than 100 suppliers in Vietnam, with 96 factories concentrated in the southern region.

Nike’s arch rival, Adidas, has also chosen Vietnam as its main production area. In its annual report (2020), Adidas suggested that in 2019, 98% of Adidas’ footwear products were produced in the Asian region. Vietnam has become the largest sourcing country for Adidas, accounting for 42% of its total footwear production in 2020.

According to CRI’s analysis, due to the impact of COVID-19, Vietnam’s footwear exports was USD16.75 billion in 2020, down 8.6% YOY. In 2020, Vietnam’s footwear products were exported to more than 100 countries, with exports to 70 of these countries exceeding USD1 million in footwear production. In 2021, Vietnam’s footwear exports have seen a resurgence in growth.

There is a more important basis for the bullishness of Vietnam’s footwear exports, that is, Vietnam has signed trade agreements helpful for exports with Europe and the United States. For example, in the EU-Vietnam Free Trade Agreement (EVFTA), Vietnam’s footwear exports to the EU amount to about 40%.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has helped Vietnam’s footwear exports to Canada and Mexico soar.

Vietnam has signed many agreements with developed countries that are conducive to promoting exports, but the strength of Vietnam’s local footwear enterprises remains weak and the major market share of Vietnam’s footwear industry is occupied by foreign companies. According to CRI, Vietnam’s footwear production and exports are expected to continue to grow in 2022-2030.

For companies related to the international footwear industry chain, there are many investment opportunities in Vietnam’s market in the coming years.

Topics covered:

• Overview of Vietnam’s Footwear Industry
• Economic and Policy Environment of Vietnam’s Footwear Industry
• What is the impact of COVID-19 on the footwear manufacturing industry in Vietnam?
• Vietnam Footwear Market Size, 2016-2021
• Forecast on Vietnam’s Footwear Market, 2022-2030
• Analysis of Major Footwear Manufacturing Companies in Vietnam
• Key Drivers and Market Opportunities in Vietnam Footwear Industry
• What are the key drivers, challenges and opportunities for the footwear industry in Vietnam during 2022-2030?
• What is the expected revenue of Vietnam’s footwear market during 2022-2030?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of Vietnam’s footwear market is expected to dominate the market in 2030?
• What are the major adverse factors facing the footwear industry in Vietnam?

Related reports:

Luxury Footwear Market: Market Segments: By Product (Formal Shoes & Casual Shoes); Gender (Male, Female and Children); By Mode of Sale (Retail and Online); and Region – Global Analysis by Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030

Athletic Footwear Market: Market Segments: By Product (Running Shoes, Sports Shoes, Aerobic Shoes, Walking Shoes and Trekking Shoes); Gender (Male, Female and Children); By Mode of Sale (Brick & Mortar and E-commerce); and Region – Global Analysis by Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030

Global Polyurethane for Footwear Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

Footwear Market in India (2018-2023)

The post Research Report on Footwear Market in Vietnam, 2016-2030 first appeared on CRI Report.

Cashew nut is one of the important nut species in the global market. Since 2017, Vietnam has become the world’s top cashew nut processing center and largest exporter of cashew nuts, accounting for more than 50% of the global processed cashew nut raw materials. According to CRI’s analysis, Vietnam is characterized by the tropical monsoon climate, thus having natural advantages in cashew cultivation.

The total area planted with cashew nuts in Vietnam in 2020 was 302,500 ha, an increase of 5,300 ha from 2018-2019 crop year. In 2020, Vietnam’s total cashew nut production was 339,800 tons, an increase of 53,500 tons YOY, with an average yield of 1,123 kg per hectare, an increase of 180 kg YOY.

Vietnam exported a total of 521,419 tons of cashew nuts in 2020, up 13.48% YOY. Among them, exports to the United States rose 9.7% to 148,125 metric tons; 62,302 metric tons to China, down 7.3% from 2019; and exports to Europe and other countries rose 20.9% to 310,992 metric tons.

According to CRI’s analysis, with the entry into force of various FTAs such as the EU-Vietnam Free Trade Agreement (EVFTA) and the Regional Comprehensive Economic Partnership (RCEP), and the gradual control of the COVID-19 epidemic, Vietnam’s cashew nut exports will continue to rise. The market size will reach USD4 billion.

According to CRI’s analysis, there are still some shortcomings in Vietnam’s cashew nut industry. For example, the cultivation of cashew nuts in Vietnam is still dominated by small-scale farmers, and has not yet formed large-scale production. And Vietnam is relatively backward in the cultivation technology, which to a certain extent limits the development of the cashew nut industry.

According to CRI’s analysis, in the global cashew nut value chain, Vietnam exports cashew nuts at about USD10 per kilogram or less, while cashew nut products are sold at up to USD20-30 per kilogram in the end market. Vietnam needs to increase the added value of cashew products and take advantage of modern processing technologies.

CRI expects that Vietnam’s cashew production and exports will continue to rise in 2022-2030, and for investors, there are many investment opportunities in Vietnam’s cashew industry, from cultivation to processing and trading.

Topics covered:

• Overview of Vietnam’s Cashew Industry
• Economic and Policy Environment of Vietnam’s Cashew Nut Industry
• What is the Impact of COVID-19 on Vietnam’s Cashew Nut Industry?
• Vietnam Cashew Nut Market Size, 2016-2021
• Forecast on Vietnam Cashew Nut Market, 2022-2030
• Analysis of Major Cashew Nut Companies in Vietnam
• Key Drivers and Market Opportunities in Vietnam’s Cashew Nut Industry
• What are the key drivers, challenges, and opportunities for the cashew nut industry in Vietnam during 2022-2030?
• What is the expected revenue of Vietnam cashew nuts market during 2022-2030?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of Vietnam’s cashew nuts market is expected to dominate the market in 2030?
• What are the major adverse factors facing the cashew nuts industry in Vietnam?

Related reports:

US and Europe Nuts and Seeds Cheese Market Research Report—Forecast till 2026

Research Report on Hazelnut Imports in China 2020-2024

The post Research Report on Vietnam’s Cashew Nut Market, 2016-2030 first appeared on CRI Report.

Vietnam is rich in rice, tropical crops and aquatic products and is a major exporter of agricultural products in Southeast Asia, and the third largest exporter of rice in the world.

According to CRI’s analysis, Vietnam’s rice export value reached USD3.07 billion in 2020, and rice has become a bright spot in Vietnam’s agricultural products exports. This is a remarkable achievement of the rice industry for many years, especially in the context of natural disasters and COVID-19 epidemic that hit Vietnam’s agriculture in 2020 in terms of production and export.

In 2020, Vietnam’s total rice production was 42.7 million tons, meeting the demand for domestic consumption, processing, poultry and livestock feed, and export, etc. In 2020, its rice exports grew against the backdrop of a decline in exports of many of Vietnam’s long-dominant agricultural products due to the COVID-19 epidemic.

Notably, the bright spot of the country’s rice exports was not in terms of production, but in terms of price. According to CRI’s analysis, in 2020, the average price of Vietnam’s rice exports increased by 13%, compared to the same period in 2019, reaching USD496 per ton.

In early December 2020, the price of Vietnam’s rice with 5% crushing was USD493 to USD497 per ton, which is USD20 higher than that of Thai’s rice and USD120 higher than that of Indian rice. This is the highest price in the history of Vietnam’s rice exports, indicating that the brand value of Vietnam’s rice has increased significantly.

Since the EU-Vietnam Free Trade Agreement (EVFTA) came into force on August 1, 2020, the rice exports have rapidly seen an upturn. According to EVFTA, the EU provides Vietnam with 80,000 tons of rice for export at 0% tax rate annually (including 30,000 tons of milled rice, 20,000 tons of unmilled rice and 30,000 tons of aromatic rice).

For rice from Vietnam, the EU will reduce the import duty rate to zero in the coming years. Taking advantage of the above, from September 2020, Vietnam started to sell rice to the EU at a much higher price than before. Specifically, before EVFTA came into effect, the prices of ST20 rice and Jasmine rice exported to the EU were USD800 and USD520 per ton, respectively, while now the prices are over USD1,000 and USD600, respectively.

According to CRI’s analysis, there are three reasons for the rise in Vietnam’s rice prices. Firstly, the government issued an agricultural restructuring proposal, by which the rice structure has been strongly adjusted, changing the rice cultivation protocols, i.e., paying more attention to improving rice quality rather than increasing production.

Around 2015, Vietnam’s quality rice seeds accounted for only 35%-40% of the total seeds, while in 2020 the Chart reached 75%-80%, and even in some places, the usage rate of quality rice seeds is as high as 90%.

Secondly, Vietnam has signed many FTAs such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Europe-Vietnam Free Trade Agreement (EVFTA) with many countries, which creates conditions for a breakthrough in Vietnam’s rice exports. Third, many industries were affected by the COVID-19 epidemic in 2020, but the market demand for food has not decreased.

According to CRI’s analysis, the Jiulong River Plain is the center of rice cultivation in Vietnam, contributing 50% of rice production and 95% of rice exports to Vietnam’s agriculture.

In 2020, the Jiulong River Plain cultivated more than 1.5 million hectares of rice per season, with an average yield of 6 tons per hectare and an annual rice production of more than 24 million tons. Furthermore, its winter-spring rice production is expected to reach 10 million tons from 2020 to 2021.

CRI expects Vietnam’s rice exports to continue to rise in both volume and value in 2022-2030.

Topics covered:

• Overview of Vietnam’s Rice Industry
• Economic and Policy Environment of Vietnam’s Rice Industry
• What is the Impact of COVID-19 on Vietnam’s Rice Industry?
• Imports volumes and values of Vietnam’s Rice, 2016-2021
• Forecast on Imports volumes and values of Vietnam’s Rice, 2022-2030
• Analysis of Major Rice Companies in Vietnam
• Key Drivers and Market Opportunities in Vietnam’s Rice Industry
• What are the key drivers, challenges, and opportunities for the rice industry in Vietnam during 2022-2030?
• What is the expected revenue of Vietnam rice market during 2022-2030?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of Vietnam’s rice market is expected to dominate the market in 2030?
• What are the major adverse factors facing the rice industry in Vietnam?

Related reports:

US Packaged Dry Rice Market (2019 – 2024)

Research Report on Paddy and Rice Import in China, 2019-2023

Vietnam Textile and Garment Industry Report 2021-2025

The post Research Report on Vietnam’s Rice Industry 2016-2030 first appeared on CRI Report.

Vietnam steel industry includes more than 100 companies, according to CRI analysis, of which the larger ones include Hoa Phat Steel, Hoa Sen Steel, Vietnam Steel Corporation, SMC Steel Company Limited, VSC-POSCO STEEL CORPORATION (VPS), Formosa Ha Tinh Steel Corporation (FHS) and so on.

The growth rate of Vietnam’s GDP in 2020 was about 2.9%. Considering the spread of COVID-19 in 2020, the annual GDP growth rate of 2.9% is already a good figure in the world. Vietnam’s economy has been increasing rapidly for many years, but wages of the manufacturing are still at a low level, which were less than 50% in China and far below that of the developed countries in 2020.

According to CRI analysis, as Vietnam’s economy develops and the living standards of residents rise, the demand for steel in the industries such as construction, automobiles and home appliances is also going up. The rapid development of steel demand has attracted many steel enterprises to build new steel capacity in Vietnam.

As the COVID-19 epidemic in Vietnam has been effectively controlled, the steel industry in Vietnam will not be greatly affected in 2020. Overall, Vietnam’s steel industry is still growing, and the homemade steel cannot meet the needs of the domestic market.

According to CRI analysis, in 2020, the production volume of crude steel in Vietnam reached 30.67 million tons, representing a CAGR of 41.3% from 2013 to 2020.

Based on CRI’s analysis, seeing the huge potential of the steel market in Vietnam and even Southeast Asia, many enterprises have invested in Vietnam’s steel industry in recent years. The largest investment case is Formosa Ha Tinh Steel Corporation (FHS), which is a joint venture by Formosa Plastic Group, China Steel Corporation and Japan’s JFE Holdings, with a first-phase investment of more than USD 10 billion.

Due to the rapid increase in production capacity of the steel industry in recent years, the supply of some types of steel in Vietnam has exceeded the demand, including concrete iron or steel for construction, cold-rolled steel coil products, etc. In order to reduce large quantities of imports such as hot-rolled steel coils and electromagnetic steel sheets, the Vietnam government is actively attracting foreign investors to establish positions in the country.

At present, the Vietnamese government has not formulated nationwide policies for foreign investment in the steel industry. However, steel companies have been set up in many industrial parks in Vietnam, which are granted with preferential policies in taxation and other aspects.

In addition, as Vietnam’s manufacturing and construction industries develop rapidly, the demand for steel will continue to increase. It is estimated that, during 2021-2025, Vietnam’s roads, airports and other infrastructure, housing construction, automobile, home appliances and other industries will all maintain a high growth rate.

On the whole, most of the domestic steel manufacturers are extremely low in production capacity (no more than 1 million tons a year), with the outdated equipment. Foreign-funded enterprises have seen great market prospects in investing in the steel industry of Vietnam, especially to establish one-stop businesses from the production of crude steel to the processing of various kinds of steel.

For one thing, these steel enterprises can market in Vietnam. For another, they can export products to the Southeast Asian market with a total population of nearly 700 million, and even to the Asia-Pacific market with a population of more than 2 billion.

CRI considers that the Vietnam steel market will become one of the fastest growing markets in the world from 2021 to 2025. Meanwhile, the CAGR of production volume of crude steel is projected to exceed 15%. By 2024, Vietnam will become a net exporter of steel.

Topics covered in Research Report on Vietnam Steel Industry 2021-2025:

-The impact of COVID-19 on Vietnam’s Steel Industry
-Development Environment of Vietnam Steel Industry
-Supply and Demand of Vietnam Steel Industry, 2013-2020
-Analysis on Import and Export of Steel in Vietnam, 2013-2020
-Major Steel Manufacturers in Vietnam, 2019-2021
-Advantages and disadvantages of the development of Vietnam’s cement industry
-Prospect of Vietnam Steel Market, 2021-2025

Related reports:

Vietnam Steel Industry Report 2020-2024

Research Report on Vietnam Steel Industry, 2018-2022

The post Research Report on Vietnam Steel Industry 2021-2025 first appeared on CRI Report.

Research Report on Vietnam Steel Industry, 2018-2022

The post Sample of Research Report on Vietnam Steel Industry, 2018-2022 first appeared on CRI Report.

Research Report on Coffee Industry in Vietnam, 2017-2021

The post Sample of Research Report on Coffee Industry in Vietnam, 2017-2021 first appeared on CRI Report.

Vietnam was once a colony of France. Coffee tree was first introduced by Frenchmen to Vietnam in 1857. In 1888, the first coffee plantation was founded in Vietnam. However, the output volume of coffee was small in Vietnam before 1975. Vietnam’s coffee industry took off after the Vietnam war ended in 1975, especially after East Germany signed the coffee procurement agreement with Vietnam.

In 1976, Brazilian coffee beans underwent poor harvest so that the price of coffee rose suddenly and sharply. In 1977, East Germany signed an agreement with Vietnam to assist coffee bean planting. During 1975 to 2010, the planting area of coffee beans increased from 134,000 hectares to 513,000 hectares, up with more than 30 folds. For many years, Germany is the largest export destination of Vietnamese coffee beans.

According to CRI, the coffee trees planted in Vietnam are mainly Robusta and Arabica coffee. Southern Vietnam is humid and hot, suitable for growing Robusta whereas the northern part is suitable for Arabica. In 2014, total coffee cultivation area in Vietnam was 653,000 hectares, increasing by 2.7% YOY. This was 30 times the area in 1961. Export value of coffee beans accounts for around 15% to 20% of the total export of agricultural products in Vietnam. Commercial coffee production provides jobs for over 500,000 farmers with income growth.

Presently, Vietnam forms strong production capacity of coffee bean rough processing and deep processing. The designed rough processing capacity is 1.5 million tons/year, coffee bean baking and coffee powder processing capacity is 52,000 tons/year and instant coffee production capacity is 36,500 tons/year.

The proportion of baking and instant coffee deep processing with high added-value is growing. Vinacafe, Trung Nguyen, An Thai, Me Trang and Phuong Vy are famous coffee brands recognized by consumers. Meanwhile, coffee processing devices and facilities made in Vietnam are sold to the domestic and foreign markets.

According to CRI, Vietnamese coffee is popular in the world. The export volume and value present a fast growing trend. During 1991-1995, the annual export volume of Vietnamese coffee beans was only 142,000 tons, with the annual export value of only USD 210 million. During 2006-2016, the export volume exceeded 1 million tons with the highest yearly export value exceeding USD 3 billion.

Coffee is very cheap in Vietnam and is a favorite drink of Vietnamese. According to CRI investigation, the price of a cup of coffee is low to only USD 0.5 in Vietnamese street, which is affordable for any class of the society.

According to CRI, the planting area of coffee beans expands continuously in Vietnam. The output volume grows accordingly, which promotes the processing, sales and export of coffee beans. Coffee has formed a complete industry chain in Vietnam, which is also an important part of Vietnamese economy providing millions of job opportunities.

CRI forecasts the output volume of Vietnamese coffee beans will keep growing and both domestic demand and export volume will grow accordingly.

Through this report, the readers can acquire the following information:

– Development Environment of Vietnamese Coffee Industry

– Coffee Beans Planting and Processing in Vietnam

– Domestic Demand of Coffee in Vietnam

– Export of Coffee Beans in Vietnam

– Major Domestic Coffee Brands in Vietnam

– Major Driving Forces and Market Opportunities in Coffee Industry in Vietnam, 2017-2021

– Threats and Challenges in Vietnamese Coffee Industry, 2017-2021

– Forecast on Supply and Demand of Vietnamese Coffee, 2017-2021

– Forecast on Export of Vietnamese Coffee Beans, 2017-2021

Research Report on Coffee Bean Imports in China 2020-2024

The post Research Report on Coffee Industry in Vietnam, 2017-2021 first appeared on CRI Report.