Vietnam: Hand-Made Lace Market 2024

Hand-Made Lace Market Size in Vietnam

In 2022, after five years of decline, there was growth in the Vietnamese hand-made lace market, when its value increased by X% to $X. Overall, consumption showed a deep contraction. Hand-made lace consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Hand-Made Lace Production in Vietnam

In value terms, hand-made lace production totaled $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with a decrease of X%. Hand-made lace production peaked in 2022 and is likely to continue growth in years to come.

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Hand-Made Lace Exports

Exports from Vietnam

In 2022, overseas shipments of hand-made lace in the piece, in strips or in motifs were finally on the rise to reach X tons after two years of decline. In general, exports showed significant growth. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, hand-made lace exports soared to $X in 2022. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Myanmar (X tons) was the main destination for hand-made lace exports from Vietnam, accounting for a X% share of total exports. Moreover, hand-made lace exports to Myanmar exceeded the volume sent to the second major destination, Cambodia (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Myanmar amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (X.3% per year) and Indonesia (X% per year).

In value terms, Myanmar ($X) emerged as the key foreign market for hand-made lace in the piece, in strips or in motifs exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Cambodia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Myanmar amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (X.7% per year) and Indonesia (X% per year).

Export Prices by Country

The average hand-made lace export price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price saw a abrupt setback. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Caledonia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Hand-Made Lace Imports

Imports into Vietnam

In 2022, supplies from abroad of hand-made lace in the piece, in strips or in motifs decreased by X% to X tons, falling for the fifth consecutive year after three years of growth. Over the period under review, imports saw a deep reduction. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, hand-made lace imports dropped significantly to $X in 2022. Overall, imports faced a abrupt setback. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

South Korea (X tons), Japan (X tons) and China (X tons) were the main suppliers of hand-made lace imports to Vietnam.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, the largest hand-made lace suppliers to Vietnam were South Korea ($X), Japan ($X) and China ($X).

South Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average hand-made lace import price amounted to $X per ton, surging by X% against the previous year. In general, the import price continues to indicate a slight expansion. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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