A production line at the The Ky Yarn Joint Stock Company (Photo: VNA) HCM City (VNS/VNA) – The textile and apparel industry , which managed to survive three waves of COVID-19 thanks to its decision to produce face masks and personal protective equipment, will focus on sportswear and yarn, according to the Vietnam National Textile and Garment Group . Le Tien Truong, its general director, said demand for face masks and personal protective equipment will shrink rapidly. Armed with their experience of coping with the pandemic, many textile and footwear enterprises are quietly confident of altering plans when required and finding new markets to cope with new situation after COVID-19 is under control. Sportswear has arguably been the most successful segment during the pandemic as awareness of physical exercise rose. According to Euromonitor International, in 2020 the demand for sportswear world-wide decreased only about 8 percent, the lowest in an industry which saw an overall decline of 16 percent. The compounded annual growth rate for the sportswear market in the last five years was 6.5 percent, 1.5 times the industry average, and it is expected to be worth 479 billion USD globally by 2025. The Thanh Cong Textile Garment Investment Trading JSC is considered… Read full this story
- The next generation for the textile industry
- Vietnamese farm produce see big chances in Korean market
- Textile-garment exports seen at $35b this year
- Love for textiles still sewn into Saxony's fabric
- Textile, garment industry expo opens in Ha Noi
- Vietnamese goods introduced in Thailand
- Seminar updates trade opportunities in Israel
- Woodworking industry confident of meeting year’s export target
- RCEP deal could provide opportunities for India's exports, says China
- Will 85 percent of garment workers lose jobs in 4.0 industry era?
Vietnamese textile industry sees huge export opportunities have 269 words, post on en.vietnamplus.vn at March 8, 2021. This is cached page on VietMaz. If you want remove this page, please contact us.