Press Release

Vietnam Personal Care Ingredients Market to Grow with a CAGR of 3.75% through 2028

Surge in research and development activities is expected to drive the Vietnam Personal Care Ingredients Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Vietnam Personal Care Ingredients Market– By Region, Competition, Forecast and Opportunities, 2018-2028F”, the Vietnam Personal Care Ingredients Market stood at USD135.26 million in 2022 and is anticipated to grow with a CAGR of 3.75% in the forecast period, 2023-2028. The initiatives taken by government based on personal care ingredients has led to favorable market conditions for the Vietnam Personal Care Ingredients Market. Several factors contribute to the growth of various personal care ingredients market products.

The Ministry of Health (MOH) in Vietnam, in its continuous efforts to ensure the safety and efficacy of personal care products, has established an Advisory Council dedicated to issuing registration papers for the circulation of drugs and medicinal ingredients. By implementing this regulatory measure, the MOH aims to guarantee proper regulation and quality control, thereby safeguarding the well-being of consumers and promoting trust in the market.

Keeping in line with global trends and responding to consumer preferences, the Vietnamese government is actively promoting the transition from fossil fuel-based cosmetics to bio-based alternatives. This strategic move not only aligns with the growing demand for natural and organic ingredients but also contributes to sustainable practices and environmental conservation. By embracing bio-based cosmetics, Vietnam is taking a significant step towards a greener and more eco-friendly approach to personal care.

 

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Vietnam Personal Care Ingredients Market

 

Research and development (R&D) initiatives play a pivotal role in driving the development of innovative products that cater to the ever-changing needs of consumers. As awareness about the benefits of personal care products and ingredients continues to grow, consumers are actively seeking out novel solutions that offer enhanced benefits and address their specific concerns. By investing in R&D activities, companies can uncover new insights, explore cutting-edge technologies, and develop groundbreaking formulations that push the boundaries of what is possible in the realm of personal care. These dedicated efforts in research and development are instrumental in not only meeting consumer demands but also in shaping the future of the industry by introducing innovative products that truly make a difference in people's lives.

The Vietnam Personal Care Ingredients Market is segmented in type, application, regional distribution, and company.

Based on its type, the emollients segment held the largest share in the market. There is an ever-increasing trend among consumers towards seeking out products that utilize natural and organic ingredients in their personal care routines. This shift in preference is driven by the belief that emollients derived from natural sources, such as nourishing plant oils, are not only safer but also offer enhanced benefits for the skin. As a result, there has been a noticeable surge in demand for skincare and beauty products that harness the power of nature's goodness.

Based on region, Central segment is expected to grow during the forecast period.

Together with the decline in birth rate, Vietnam is experiencing a significant shift in its population demographics, with an increasing number of elderly individuals. This demographic change is leading to a surge in demand for healthcare services and products. Specifically, in the central region of Vietnam, which is home to a substantial portion of the aging population, there is a noticeable rise in the demand for personal care products that cater to the unique needs of older consumers. Anti-aging creams and lotions are among the sought-after products in this segment, as they provide targeted solutions to address the specific concerns of aging individuals.

Major companies operating in Vietnam Personal Care Ingredients Market are:

  • BASF SE
  • Evonik Industries AG
  • Croda International PLC
  • The Dow Chemical Company
  • Clariant AG

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“Growing application of personal care ingredients in various end user industries are key drivers of the personal care ingredients market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of personal care ingredients with every passing year are anticipated to register an impressive growth to Vietnam Personal Care Ingredients Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Vietnam Personal Care Ingredients Market By Type (Surfactants, Conditioning Polymers, Rheology Control Agents, Emollients, Emulsifiers), By Application (Toiletries, Hair Care, Skin Care, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Vietnam Personal Care Ingredients Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Vietnam Personal Care Ingredients Market.

 

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Vietnam Personal Care Ingredients Market By Type (Surfactants, Conditioning Polymers, Rheology Control Agents, Emollients, Emulsifiers), By Application (Toiletries, Hair Care, Skin Care, Others), By Region, Competition, Forecast and Opportunities 2018-2028

Chemicals | Jan, 2024

Growth in cosmetic industry and surge in technological advancements are factors driving the Vietnam Personal Care Ingredients Market in the forecast period 2024-2028.

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