Article -> Article Details
| Title | Vietnam Textile Market Size, Share, Trends and Report 2034 |
|---|---|
| Category | Business --> Business Services |
| Meta Keywords | Vietnam Textile Market |
| Owner | Rahul Kumar |
| Description | |
| The Vietnam textile market was valued at USD 18.0 Billion in 2025 and is projected to reach USD 26.5 Billion by 2034, exhibiting a CAGR of 4.38% during 2026-2034. Driven by robust export demand supported by free trade agreements such as CPTPP and EVFTA, the market benefits from lower labor costs than China and rising domestic consumption. Sustainability initiatives and technological advancements like digitalization and automation further strengthen Vietnam's textile market position globally. Study Assumption Years
Vietnam Textile Market Key Takeaways
Sample Request Link: https://www.imarcgroup.com/vietnam-textile-market/requestsample Market Growth Factors Strong export demand for Vietnam's textile industry due to the implementation of several FTAs, namely CPTPP and EVFTA, is one of the main drivers of the industry growth. Tariff reductions under these agreements further improve Vietnam's textile industry's competitive advantage in major markets such as the EU, the United States and Japan. Vietnam has signed 20 FTAs (16 in force), while still negotiating with Qatar and Saudi Arabia. The country expects its trade turnover to exceed USD 786 billion in 2024, with an export surplus of USD 24.7 billion. By 2025, Vietnam seeks to increase its export revenue by 12% annually, encouraging sector development. Vietnam's lower cost of labor compared to China and neighboring Southeast Asian manufacturers, and its government policies to promote foreign direct investment in manufacturing through tax incentives and infrastructure development, has contributed to the expansion of its garment sector. Additionally, the demand in international markets for affordable and high-quality ready-made garments makes Vietnam an attractive sourcing destination for global fashion retailers, with the country taking a prominent position in the international textile supply chain. The market is being driven by the diversification of supply chains and production moving from China to Vietnam as prices rise and trade wars emerge. Vietnam has a skilled workforce and improved production capabilities. Domestic market consumption has increased owing to a growth in disposable income among the middle class, increased fashion awareness, and increasing sustainability in the industry. Brands are using sustainable materials and practices to meet international standards and regulations. However, factored in productivity and efficiency gains through increased automation and digitalization, Vietnam is likely to remain the world's largest textile exporter for the foreseeable future. Market Segmentation By Product:
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Regional Insights Southern Vietnam dominated the textile market in 2025 with a market share exceeding 43.2%. This is attributable to Ho Chi Minh City’s role as a commercial hub and the concentration of industrial parks, manufacturing units, and export-processing zones in surrounding provinces. The region’s superior infrastructure, including deep-sea ports like Cat Lai, facilitates streamlined logistics. Foreign investments mainly from China, South Korea, and Taiwan cluster in provinces such as Binh Duong, Dong Nai, and Long An. These factors solidify Southern Vietnam’s position as the textile powerhouse of the country. Recent Developments & News
Competitive Landscape The competitive landscape of the market is characterized by strategic vertical integration and technological modernization among key players. Leading manufacturers invest heavily in automation and smart factories to increase efficiency and reduce labor dependency. Many companies are expanding into technical textiles and sustainable fabrics to differentiate in export markets. Some are establishing closed-loop production and backward integration into fiber production to ensure raw material security and cost control. Partnerships with global brands and compliance with evolving trade regulations are essential for competitive positioning. Key Players
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