Vietnam now accounts for over a tenth of the global footwear market share for the first time, according to the latest World Footwear Yearbook 2021. While China’s global footwear share has fallen from 73.1 per cent in 2011 to 61.1 per cent in 2020, the Vietnamese market share has increased from 2 per cent to 10.2 per cent during the same period.

China topped the list of exporters last year with a total of 7.4 billion pairs of shoes exported, followed by Vietnam with 1.2 billion pairs, and Indonesia with 366 million, accounting for 3 per cent of the global shoe market shares, while Germany and Turkey made up 2.5 per cent and 2.3 per cent respectively.

The pandemic has disrupted international value chains, leading to a reduction in the export proportion from 62-59 per cent, according to reports in Vietnamese media outlets.

Vietnam now accounts for over a tenth of the global footwear market share for the first time, according to the latest World Footwear Yearbook 2021. While China’s global footwear share has fallen from 73.1 per cent in 2011 to 61.1 per cent in 2020, the Vietnamese market share has increased from 2 per cent to 10.2 per cent during the same period.

The World Footwear Yearbook, published annually by the Portuguese Footwear, Components, Leather Goods Manufacturers’ Association (APICCAPS), represents a comprehensive report which looks at key trends in the worldwide footwear sector.

Fibre2Fashion News Desk (DS)