The Vietnam Cosmetics Market is on an upward trajectory, driven by burgeoning middle-class purchasing power, rapid changes in consumer habits, and the proliferation of e-commerce platforms. As the market continues to mature, significant opportunities are emerging both for local players and international brands. This press release highlights key insights from the Vietnam Cosmetics Market Research Report, detailing projections for growth, competitive dynamics, and essential market trends.

Vietnam Cosmetics Market Size: 2025 Outlook

The Vietnam Cosmetics Market size was valued at approximately USD 2.5 billion in 2024 and is projected to reach an impressive USD 3.2 billion by 2030. With an estimated compound annual growth rate (CAGR) of around 4.2% during the forecast period of 2025-2030, the market growth is predominantly fueled by the climbing disposable incomes of consumers, a growing emphasis on personal care, and increasing health consciousness among the population. The evolving preferences for high-quality and organic products are also reshaping the marketplace, making Vietnam a noteworthy hub for cosmetic investments.

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Vietnam Cosmetics Market Statistics

• Projected Market Growth: The Vietnam Cosmetics Market is expected to grow significantly, reaching USD 3.2 billion by 2030.
• CAGR Estimate: The market is anticipated to grow at a CAGR of approximately 4.2% between 2025 and 2030.
• E-Commerce Contribution: Online sales accounted for 20.2% of the cosmetics market in 2024, with projections to rise to 24% by 2027.
• Middle-Class Population: By 2026, the middle class is projected to represent 26% of the total population, driving cosmetic consumption.
• Imported Cosmetics Growth: Cosmetic imports are projected to reach almost USD 934 million by 2026, spurred by a diverse range of international brands.

Competitive Landscape

The competitive dynamics within the Vietnam Cosmetics Market are marked by the predominance of global brands, while local players are also recognized for their innovative approaches. The dual presence of established international companies alongside emerging domestic brands drives competition and product diversity.

Key Players Dominating the Vietnam Cosmetics Market

• 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)
• YLVC Company Limited (The Skinna)
• Amore Pacific Vietnam
• Cocoon and others

Vietnam Cosmetics Market Trends

The Vietnam Cosmetics Market is currently witnessing a strong trend toward natural and organic products, reflecting consumer preferences for safer, environmentally-friendly options. As awareness grows surrounding the adverse effects of synthetic chemicals, there is a marked increase in demand for products with natural ingredients. Local brands like Cocoon, which leverage indigenous ingredients, are thriving amid this trend, indicating a shift in purchasing habits that focuses on wellness and sustainability.

Industry Recent Development

• In August 2024, Estée Lauder (Vietnam) Limited Cosmetics collaborated with IPP Travel Retail to open its first duty-paid boutique at Noi Bai International Airport, enhancing its brand visibility and consumer reach.

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Vietnam Cosmetics Market Segmentation

The Vietnam Cosmetics Market can be segmented based on various criteria:

By Category

1. Conventional- Market Size & Forecast 2020-2030, USD Million
2. Organic- Market Size & Forecast 2020-2030, USD Million

By Product Type

1. Skin and Sun Care Products- Market Size & Forecast 2020-2030, USD Million
2. Hair Care Products- Market Size & Forecast 2020-2030, USD Million
3. Deodorants and Fragrances- Market Size & Forecast 2020-2030, USD Million
4. Makeup and Color Cosmetics- Market Size & Forecast 2020-2030, USD Million
5. Others

By Gender

1. Men- Market Size & Forecast 2020-2030, USD Million
2. Women- Market Size & Forecast 2020-2030, USD Million
3. Unisex- Market Size & Forecast 2020-2030, USD Million

By Distribution Channel

1. Supermarkets and Hypermarkets- Market Size & Forecast 2020-2030, USD Million
2. Specialty Stores- Market Size & Forecast 2020-2030, USD Million
3. Pharmacies- Market Size & Forecast 2020-2030, USD Million
4. Online Stores- Market Size & Forecast 2020-2030, USD Million
5. Others

By Region

1. Northern
2. Southern
3. Central

Browse More Cosmetics Report:

• Global Vegan Cosmetics Market size was valued at USD 17 Billion in 2022and is projected to grow at a CAGR of around 7.0% during the forecast period, i.e., 2024-30.
• Global Halal Cosmetics Marketis projected to grow at a CAGR of around 11.0% during the forecast period, i.e., 2023-28.
• Halal Cosmetics Market in Indiais likely to grow at around 30.25% CAGR during the forecast period, i.e., 2023-28.
• Halal Cosmetics Market in Middle Eastis anticipated to grow at a CAGR of more than 10% during the forecast period, i.e., 2021-26.

Frequently Asked Questions (FAQs)

1. What is the expected growth rate of the Vietnam Cosmetics Market between 2025 and 2030?
2. How large is the Vietnam Cosmetics Market projected to be by 2030?
3. What factors are driving the growth of the Vietnam Cosmetics Market?
4. Who are the leading companies in the Vietnam Cosmetics Market?
5. What product segment holds the largest share of the Vietnam Cosmetics Market?

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