Vietnam Cosmetics Market to be Fueled by Skin Care Segment During the Forecast Period
According to the TechSci
Research report, “Vietnam Cosmetics Market – By Region, Competition,
Forecast and Opportunities, 2028F,”
The cosmetics market in Vietnam
is expected to grow significantly in the coming years due to factors such as
the growing e-commerce industry, the growing popularity of social media, and
the growing beauty awareness among the young generation.
The cosmetics market in Vietnam
is boosting during the forecast period, due to factors such as increasing brand
awareness of cosmetic products among consumers, the rising popularity of social
media platforms among the younger generation, increasing demand for natural
products, and the rising consumer awareness regarding organic cosmetic products
in Vietnam. Older consumers of Vietnam are using various cosmetic products such
as anti-aging products and hair dyes for changing their hair color and physical
appearance, which further drives the growth of the Vietnam cosmetics market
during the forecast period.
The organic cosmetics market is
expected to increase in the coming years. Consumer preference for organic
cosmetics over chemical products is supported by increasing awareness of these
products and their beneficial effects on the skin, which further boosts the
Vietnam cosmetics market expansion during the forecast period. The increase in
disposable income of consumers and the growing number of young people in
Vietnam are the key factors that are fueling the growth of the organic cosmetic
products market in Vietnam.
Increased awareness about skin
cosmetics and their beneficial effects on the skin is also a motivating factor
during the forecast period. Additionally, increasing financial independence of
women and growth in beauty awareness among men, are major factors influencing
the demand for cosmetics during the forecast period.
Manufacturers have adopted new
strategies to promote cosmetic products in order to increase their sales. These
strategies include the introduction of new products with natural ingredients
and aesthetically pleasing packaging. Cosmetics have now become an essential
part of an individual’s life. Consumers, especially women, want to use cosmetic
products that are easy to use while traveling or socializing. Using natural ingredients
in the manufacturing of cosmetic products that don’t harm the skin is one of
the most popular ways for manufacturers to attract consumers. It also helps in
increasing the revenue of companies in this industry. All the strategies of the
manufacturers together drive the Vietnam cosmetics market during the forecast
period.
Browse over XX market data
Figures spread through XX Pages and an in-depth TOC on the "Vietnam Cosmetics Market.”
The Vietnam Cosmetics market is
segmented based on type, demography, distribution channel, and region.
On the basis of type, the
Vietnam cosmetics market is segmented into skin care, hair care, bath &
shower products, makeup & color cosmetics, fragrances & deodorants, and
others. Among them, the skin care segment will hold a significant market share
during the forecast period, driven by the growing awareness of beauty amongst
Vietnamese consumers and the prevalence of skin issues such as acne,
blackheads, and pigmentation. This is largely due to the wide availability of a
variety of skin cosmetic products, including face creams, powder, and sun
protection.
On the basis of distribution
channel, the Vietnam cosmetics market is segmented into
supermarkets/hypermarkets, pharmacy, online, departmental stores, multi-branded
retail stores, and others. Among these, the online segment has a significant
share in the market during the forecast period. Home delivery benefits,
multiple schemes, and offers for regular customers, are some of the effective
methods of e-commerce channels that promote Vietnam's cosmetics market growth.
Key market players operating in
the Vietnam cosmetics market include:
- 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)
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“The Vietnam cosmetics market is
growing exponentially due to the factors such as rapidly growing demand for
beauty products from the younger generation and rapid urbanization. The growth
of the market is accelerated by the rising demand for organic and plant-based
products, thereby increasing research & development efforts to fulfill the
needs of consumers while complying with the regulations of the authorities.
Strict government regulations and plans related to products, their
manufacturing, and control of authenticity are a testimony of customer
satisfaction. New companies can invest in research and innovative product
development, along with an innovative packaging for future brands.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Vietnam Cosmetics Market, By
Type (Skin Care, Hair Care, Bath & Shower Products, Makeup & Color
Cosmetics, Fragrances & Deodorants, Others), By Demography (Men, Women,
Unisex), By Distribution Channel (Supermarkets/Hypermarkets, Pharmacy, Online,
Departmental Stores, Multi-Branded Retail Stores, Others) By Region,
Competition, Forecast & Opportunities, 2018-2028F,
has evaluated the future growth potential of Vietnam cosmetics market and
provides statistics and information on market structure, size, share, and
future growth. The report provides cutting-edge market intelligence and helps
decision-makers to make sound investment decisions. Besides, the report also
identifies the emerging trends along with essential drivers, challenges, and opportunities
present in the market of Vietnam cosmetics.
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