Through 2025, the growth of the Vietnam cosmetics market is expected to witness a significant surge, fueled by increased digital impacts, evolving lifestyles, and growing beauty consciousness. Given the increasing youth population along with rising spending on personal grooming, Vietnam presents an attractive opportunity for local and foreign cosmetic manufacturers. This article aims to clarify the situation, projected market share growth, and key drivers.
- Growth in Market Size
Vietnam cosmetics market is estimated to surpass usd 3 billion by 2025, showing consistent annual growth. This remarkable increase is supported by the country’s developing middle class, as well as urban growth. Especially in Ho Chi Minh City and Hanoi, consumers are increasingly willing to spend on personal care and beauty services. skincare services remain at the top, followed by makeup and haircare services.
L'oreal, Innisfree and The Face Shop have established themselves as the leading players in the upper-end segment. Thorakao and Nau Nau have also started making a name for themselves due to their low prices and use of natural ingredients.
- Local versus International Brands
By 2025, almost 90% of Vietnam’s cosmetics industry is dominated by international brands. Korean and Japanese brands are particularly popular because of their advertising and skin-centric formulations. Meanwhile, Vietnamese brands are gaining some traction by providing better moisturizing emulsion products at economical prices.
There is growing market space for local brands due to increasing clean beauty, vegan cosmetics, and cruelty free products. The same is valid for foreign brands that support these values and would like to enter the market.
- Influence of E-commerce and Social Media
E-commerce businesses such as Shopee, Lazada, and Tiki have transformed the way Vietnamese consumers shop for cosmetics. Currently, more than 60% of beauty purchase transactions in Vietnam are conducted online, and this is expected to increase further by 2025. Advertising and marketing of products is done through social media platforms including TikTok, Facebook, and Instagram, resulting in brand growth.
Through the use of Beauty influencers, livestream selling, newly revamped brands, and even intervening with the beauty line, the purchasing possibilities for cosmetics has grown tremendously in Vietnam.
- Change is Brought Forward by Young Consumers
Vietnam is a young country, with more than one half of the population being younger than 35. This segment is tech-savvy and brand-conscious, and they value self-expression through beauty. The continuous updating of offerings by brands is fueled by this segment’s demand for stylish and innovative products. This segment of the population also prefers greater product transparency and sustainability, as well as eco-friendlier practices.
Fore More Info : - https://www.gmiresearch.com/report/vietnam-cosmetic-market/
Conclusion
Vietnam is expected to achieve a more competitive, digital driven, and diverse cosmetic market by 2025. Brands focusing on natural ingredients and engaging customers through digital platforms are bound to succeed. Vietnam stands out due to its strong development potential in South-East Asia's beauty industry.”
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GMI Research – Consulting & Market Research
