Vietnam Cosmetics Market Size, Growth, Share and Competitive Landscape

Vietnam Cosmetics Market Overview and Insights:

Vietnam Cosmetics Market research is an ongoing process. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

What is the Future Market Size of the Vietnam Cosmetics Industry and its Yearly Growth Rate?

The Vietnam Cosmetics Market size was valued at around USD 2.5 billion in 2024 and is projected to reach USD 3.2 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.2% during the forecast period, i.e., 2025-30. This growth is attributed to various factors. There is a growing demand for cosmetics from the rising middle-class population in the region which has a considerable share of the personal care market. There are around 97 million middle-class persons in Vietnam in 2023 which stands to be 13% of the total population and is the biggest consumer segment for cosmetics and is projected to reach 26% in 2026. With a rise in disposable income, and per capita income projected to reach around USD 7,500 by 2030, consumers are giving priority to beauty and personal care. Consequently, this consideration made global brands like L'Oreal and Unilever become very aggressive investors in the market as local brands expanded their product range. This dynamic environment underscores the Vietnamese cosmetics industry's rapid evolution, driven by the growing middle class's increasing purchasing power and changing consumer habits.

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Who are the Main Competitors Driving the Vietnam Cosmetics Market Forward?

The prominent players essentially operating in the Vietnam Cosmetics Market are as follows:

L'Oréal Vietnam Co., Ltd.
Unilever Vietnam International Company Limited
Estee Lauder (Vietnam) Limited
Beiersdorf Vietnam Co., Ltd.
Procter Gamble Vietnam Company Limited
Shiseido Cosmetics Vietnam Co., Ltd.
Marico Limited
Chanel, Inc.
MON Trading Co., Ltd. (Vedette)
YLV Company Limited (The Skinna)
Amore Pacific Vietnam
Cocoon
Others

What are the key Drivers Defining the Vietnam Cosmetics Market Size?

Rising E-Commerce Driving Market Growth – The Vietnamese cosmetics sector is booming due to various e-commerce platforms like Lazada, Shopee, and Tiki. The beauty market among the five major platforms reached a total revenue of USD 1.49 billion in 2023, with approximately 341 million products sold online, representing a growth of more than 50% as compared to 2022. The convenience, variety, and competitive prices of e-commerce platforms attract Vietnamese consumers toward purchasing cosmetics online, creating ample chances for companies which drive their demand exponentially. Also, e-commerce sales contributed to the overall market by 20.2% in 2024 and could reach 24% by 2027. This brings in various opportunities for the companies to expand their product and customer base. Global beauty trends exposure from digital platforms makes customers a little more willing to try new things, which benefits both international and local brands in terms of increased audience and market growth.

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What is the Segmentation of the Vietnam Cosmetics Market?

The Vietnam Cosmetics market covered in this report is segmented –

By Category
- Conventional- Market Size Forecast 2020-2030, USD Million
- Organic- Market Size Forecast 2020-2030, USD Million
By Product Type
- Skin and Sun Care Products- Market Size Forecast 2020-2030, USD Million
- Hair Care Products- Market Size Forecast 2020-2030, USD Million
- Deodorants and Fragrances- Market Size Forecast 2020-2030, USD Million
- Makeup and Color Cosmetics- Market Size Forecast 2020-2030, USD Million
- Others

The Sun and Skin Care Products segment leads the industry with a 43% market share. Several reasons are sought for the process of domination.

By Gender
- Men- Market Size Forecast 2020-2030, USD Million
- Women- Market Size Forecast 2020-2030, USD Million
- Unisex- Market Size Forecast 2020-2030, USD Million
By Distribution Channel
- Supermarkets and Hypermarkets- Market Size Forecast 2020-2030, USD Million
- Specialty Stores- Market Size Forecast 2020-2030, USD Million
- Pharmacies- Market Size Forecast 2020-2030, USD Million
- Online Stores- Market Size Forecast 2020-2030, USD Million
- Others
By Region
- Northern
- Southern
- Central

Key Questions Answered in the Research Report

What is the predicted Vietnam Cosmetics market size and growth rate for the years 2025-30?
What challenges are restricting the growth of the Vietnam Cosmetics market?
Which segment accounted for the largest market share in the Vietnam Cosmetics market?
Which prominent companies are leading growth in the Vietnam Cosmetics market?
In what formats does Markntel Advisors deliver the concerned report descriptions?
How long does it take for customers to receive the reports provided by Markntel Advisors?
Does Markntel Advisors provide customized reports?

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