Vietnam Sneaker Market

Market Overview:

Vietnam sneaker market size is projected to exhibit a growth rate (CAGR) of 6.00% during 2024-2032. The growing investments in research and development (R&D) to incorporate cutting-edge technologies into footwear, increasing partnerships between sports figures with prominent footwear brands, and rising utilization of sustainable materials represent some of the key factors driving the market.

A sneaker, often referred to as athletic shoe or tennis shoe, is a type of footwear designed for sports or physical activity. It comprises running shoes, which are designed for optimal support and cushioning during running and prioritize shock absorption and lightweight construction. It also consists of basketball shoes, which offer ankle support and stability, crucial for the lateral movements and jumps associated with the sport. It includes casual sneakers, which are versatile and stylish and come in a variety of designs, catering to diverse fashion preferences. It encompasses cross-training shoes, which are engineered for a range of physical activities, making them suitable for gym workouts, aerobics, and other cross-training exercises. It comes in an array of designs, ranging from classic, minimalist styles to bold and eccentric ones. It is manufactured from a wide variety of materials, including leather, mesh, canvas, and synthetic fabrics. It is also integrated with advanced features, such as air cushioning, gel inserts, and specialized sole constructions to enhance comfort and performance. It helps to prevent injuries and discomfort associated with prolonged physical activity. It allows individuals to express their personality and style, contributing to a sense of identity and self-expression.

Vietnam Sneaker Market Trends:

At present, the increasing demand for sneakers with stylish and sleek designs to complement styles and provide comfort represents one of the crucial factors impelling the growth of the market in Vietnam. Besides this, brands are investing in research and development (R&D) to incorporate cutting-edge technologies, such as 3D printing, sustainable materials, and smart features into their footwear. The integration of technology not only enhances the performance of sneakers but also contributes to the overall customer experience, creating a competitive edge for brands. In addition, the growing utilization of sustainable materials and implementation of eco-friendly manufacturing processes of sneakers to cater to eco-conscious individuals is offering a favorable market outlook in the country. Apart from this, the increasing partnerships between sports figures, musicians, and fashion icons with prominent footwear brands to generate popularity and excitement among people is supporting the market growth. Key market players are also launching limited edition sneakers by collaborating with celebrities to cater to sneaker enthusiasts who are interested in collecting exclusive pieces. Additionally, online platforms are providing a convenient and accessible channel for individuals to explore a vast array of sneaker options, compare prices, and read reviews. Sneaker resale platforms are also gaining traction, creating a secondary market for limited-edition releases and rare sneakers. Moreover, the increasing demand for smart sneakers with built-in sensors to track physical activity, monitor steps taken, distance traveled, calories burned, and even analyze running or walking gait is bolstering the market growth in the country.

Vietnam Sneaker Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product type, category, price point, distribution channel, and end user.

Product Type Insights:

• Low-Top Sneakers
• Mid-Top Sneakers
• High-Top Sneakers
   

The report has provided a detailed breakup and analysis of the market based on the product type. This includes low-top sneakers, mid-top sneakers, and high-top sneakers.

Category Insights:

• Branded
• Private Label
   

A detailed breakup and analysis of the market based on the category have also been provided in the report. This includes branded and private label.

Price Point Insights:

• Luxury
• Economic
   

The report has provided a detailed breakup and analysis of the market based on the price point. This includes luxury and economic.

Distribution Channel Insights:

• Specialty Stores
• Supermarkets and Hypermarkets
• Brand Outlets
• Online Stores
• Others
   

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes specialty stores, supermarkets and hypermarkets, brand outlets, online stores, and others.

End User Insights:

• Men
• Women
• Kids
   

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes men, women, and kids.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Sneaker Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam sneaker market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Vietnam sneaker market?
• What is the breakup of the Vietnam sneaker market on the basis of product type?
• What is the breakup of the Vietnam sneaker market on the basis of category?
• What is the breakup of the Vietnam sneaker market on the basis of price point?
• What is the breakup of the Vietnam sneaker market on the basis of distribution channel?
• What is the breakup of the Vietnam sneaker market on the basis of end user?
• What are the various stages in the value chain of the Vietnam sneaker market? 
• What are the key driving factors and challenges in the Vietnam sneaker?
• What is the structure of the Vietnam sneaker market and who are the key players?
• What is the degree of competition in the Vietnam sneaker market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam sneaker market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam sneaker market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam sneaker industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.