Vietnam Fashion Accessories Market (2024-2030) | Share, Analysis, Growth, Trends, Revenue, Companies, Outlook, Value, Industry, Forecast & Size

Market Forecast By Product Type (Footwear, Apparel, Wallets, Handbags, Watches, OtherΒ ), By End-User (Men, Women, Kids/Children, Unisex), By Distribution Channel (Offline channel, Online channel) And Competitive Landscape
Product Code: ETC041951 Publication Date: Aug 2023 Updated Date: May 2024 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Vietnam Fashion Accessories Market Competition 2023

Vietnam Fashion Accessories market currently, in 2023, has witnessed an HHI of 2549, Which has increased slightly as compared to the HHI of 1598 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.

Vietnam Export Potential Assessment For Fashion Accessories Market (Values in USD Thousand)


Vietnam Fashion Accessories Market Synopsis

The Vietnam Fashion Accessories Market has seen significant growth, driven by changing fashion trends and consumer preferences. With rising disposable incomes and a young, fashion-conscious population, there is a growing demand for stylish and affordable fashion accessories. The market includes a wide range of products such as handbags, belts, scarves, hats, jewelry, and sunglasses. As consumers seek to enhance their outfits with fashionable accessories, the market has witnessed a surge in both online and offline retail channels. Domestic and international fashion brands are actively participating in the market, offering a diverse selection of accessories to meet the varying tastes and preferences of Vietnamese consumers.

Drivers of the Market

The Vietnam Fashion Accessories Market is driven by several factors contributing to the rising demand for stylish and affordable fashion accessories in the country. Firstly, the growing disposable incomes of Vietnamese consumers have resulted in an increased willingness to spend on fashion and personal accessories. As people seek to enhance their style and express their individuality, there is a rising demand for a wide range of fashion accessories, including handbags, belts, scarves, jewelry, hats, and sunglasses. Secondly, the influence of social media and fashion influencers has significantly impacted consumer preferences, with many individuals aspiring to emulate the latest fashion trends and styles. This trend has driven the demand for trendy and fashion-forward accessories that cater to diverse tastes and preferences. Moreover, the expanding middle-class population and the rise of urbanization have contributed to the growing awareness of fashion trends and the desire to keep up with the latest fashion statements. This has led to an increased focus on accessories as essential elements to complete and elevate one`s overall look. Additionally, the booming e-commerce industry in Vietnam has facilitated access to a wide range of fashion accessories for consumers across the country. Online platforms offer convenience and a diverse selection of products, making it easier for consumers to explore and purchase fashion accessories. Furthermore, the presence of both domestic and international fashion brands in Vietnam has further enriched the market, providing consumers with a wide array of choices to suit different styles and budgets.

Challenges of the Market

The Vietnam Fashion Accessories Market encounters several challenges as it caters to diverse consumer preferences. Firstly, the presence of counterfeit and imitation products in the market poses a challenge to genuine fashion accessory brands. Counterfeit products not only impact the sales of authentic brands but also compromise consumer trust and brand reputation. Secondly, the fast-fashion trend, characterized by rapidly changing fashion styles and low-cost products, can affect the demand for high-quality and durable fashion accessories. Consumers may opt for inexpensive and trend-driven accessories, leading to reduced demand for premium and long-lasting products. Moreover, the growing environmental consciousness and awareness of sustainable fashion pose challenges for traditional fashion accessory materials. The demand for eco-friendly and ethically sourced materials may require brands to adapt their sourcing and production processes, adding complexity to supply chains. Additionally, the increasing competition among domestic and international fashion brands can lead to pricing pressures. Brands may need to strike a balance between offering affordable products and maintaining profit margins, which can be challenging in a price-sensitive market. Furthermore, the influence of social media and fast fashion trends can lead to shorter product lifecycles and faster obsolescence of fashion accessories. Brands may face challenges in managing inventory and predicting consumer preferences accurately.

COVID-19 Impact on the Market

The COVID-19 pandemic had a significant impact on the Vietnam Fashion Accessories Market. With restrictions on social gatherings, events, and travel, there was a decline in the demand for fashion accessories, especially those associated with special occasions and formal wear. The closure of physical retail stores and shopping centers during lockdowns affected fashion accessory sales, leading to revenue losses for retailers and manufacturers. Many consumers shifted their spending priorities towards essential items, leading to reduced discretionary spending on fashion accessories. However, the pandemic also prompted a shift in consumer preferences towards casual and comfortable fashion accessories. With more people working from home and adopting a laid-back lifestyle, the demand for everyday accessories like scarves, hats, and casual jewelry saw some resilience. The fashion industry responded to the changing market dynamics by focusing on online sales and digital marketing strategies. E-commerce platforms and social media became vital channels for fashion accessory brands to reach consumers during the pandemic. Moreover, the growing awareness of sustainability and ethical fashion practices influenced consumer choices in the fashion accessories market. Brands that offered eco-friendly and ethically sourced accessories gained traction among environmentally conscious consumers.

Key Highlights of the Report:

  • Vietnam Fashion Accessories Market Outlook
  • Market Size of Vietnam Fashion Accessories Market, 2023
  • Forecast of Vietnam Fashion Accessories Market, 2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Revenues & Volume for the Period 2020-2030
  • Vietnam Fashion Accessories Market Trend Evolution
  • Vietnam Fashion Accessories Market Drivers and Challenges
  • Vietnam Fashion Accessories Price Trends
  • Vietnam Fashion Accessories Porter's Five Forces
  • Vietnam Fashion Accessories Industry Life Cycle
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By Product Type for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By Footwear for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By Apparel for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By Wallets for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By Handbags for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By Watches for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By Other? for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By End-User for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By Men for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By Women for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By Kids/Children for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By Unisex for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By Distribution Channel for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By Offline channel for the Period 2020-2030
  • Historical Data and Forecast of Vietnam Fashion Accessories Market Revenues & Volume By Online channel for the Period 2020-2030
  • Vietnam Fashion Accessories Import Export Trade Statistics
  • Market Opportunity Assessment By Product Type
  • Market Opportunity Assessment By End-User
  • Market Opportunity Assessment By Distribution Channel
  • Vietnam Fashion Accessories Top Companies Market Share
  • Vietnam Fashion Accessories Competitive Benchmarking By Technical and Operational Parameters
  • Vietnam Fashion Accessories Company Profiles
  • Vietnam Fashion Accessories Key Strategic Recommendations
Frequently Asked Questions About the Market Study (FAQs):
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1 Executive Summary

2 Introduction

2.1 Key Highlights of the Report

2.2 Report Description

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3 Vietnam Fashion Accessories Market Overview

3.1 Vietnam Country Macro Economic Indicators

3.2 Vietnam Fashion Accessories Market Revenues & Volume, 2020 & 2030F

3.3 Vietnam Fashion Accessories Market - Industry Life Cycle

3.4 Vietnam Fashion Accessories Market - Porter's Five Forces

3.5 Vietnam Fashion Accessories Market Revenues & Volume Share, By Product Type, 2020 & 2030F

3.6 Vietnam Fashion Accessories Market Revenues & Volume Share, By End-User, 2020 & 2030F

3.7 Vietnam Fashion Accessories Market Revenues & Volume Share, By Distribution Channel, 2020 & 2030F

4 Vietnam Fashion Accessories Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.3 Market Restraints

5 Vietnam Fashion Accessories Market Trends

6 Vietnam Fashion Accessories Market, By Types

6.1 Vietnam Fashion Accessories Market, By Product Type

6.1.1 Overview and Analysis

6.1.2 Vietnam Fashion Accessories Market Revenues & Volume, By Product Type, 2020-2030F

6.1.3 Vietnam Fashion Accessories Market Revenues & Volume, By Footwear, 2020-2030F

6.1.4 Vietnam Fashion Accessories Market Revenues & Volume, By Apparel, 2020-2030F

6.1.5 Vietnam Fashion Accessories Market Revenues & Volume, By Wallets, 2020-2030F

6.1.6 Vietnam Fashion Accessories Market Revenues & Volume, By Handbags, 2020-2030F

6.1.7 Vietnam Fashion Accessories Market Revenues & Volume, By Watches, 2020-2030F

6.1.8 Vietnam Fashion Accessories Market Revenues & Volume, By OtherΒ , 2020-2030F

6.2 Vietnam Fashion Accessories Market, By End-User

6.2.1 Overview and Analysis

6.2.2 Vietnam Fashion Accessories Market Revenues & Volume, By Men, 2020-2030F

6.2.3 Vietnam Fashion Accessories Market Revenues & Volume, By Women, 2020-2030F

6.2.4 Vietnam Fashion Accessories Market Revenues & Volume, By Kids/Children, 2020-2030F

6.2.5 Vietnam Fashion Accessories Market Revenues & Volume, By Unisex, 2020-2030F

6.3 Vietnam Fashion Accessories Market, By Distribution Channel

6.3.1 Overview and Analysis

6.3.2 Vietnam Fashion Accessories Market Revenues & Volume, By Offline channel, 2020-2030F

6.3.3 Vietnam Fashion Accessories Market Revenues & Volume, By Online channel, 2020-2030F

7 Vietnam Fashion Accessories Market Import-Export Trade Statistics

7.1 Vietnam Fashion Accessories Market Export to Major Countries

7.2 Vietnam Fashion Accessories Market Imports from Major Countries

8 Vietnam Fashion Accessories Market Key Performance Indicators

9 Vietnam Fashion Accessories Market - Opportunity Assessment

9.1 Vietnam Fashion Accessories Market Opportunity Assessment, By Product Type, 2020 & 2030F

9.2 Vietnam Fashion Accessories Market Opportunity Assessment, By End-User, 2020 & 2030F

9.3 Vietnam Fashion Accessories Market Opportunity Assessment, By Distribution Channel, 2020 & 2030F

10 Vietnam Fashion Accessories Market - Competitive Landscape

10.1 Vietnam Fashion Accessories Market Revenue Share, By Companies, 2023

10.2 Vietnam Fashion Accessories Market Competitive Benchmarking, By Operating and Technical Parameters

11 Company Profiles

12 Recommendations

13 Disclaimer

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