Report

Vietnam cosmetics packaging market has witnessed significant growth and development in recent years. As the cosmetics market in Vietnam continues to flourish, the demand for high-quality, visually appealing and functional packaging solutions has also increased. Due to various factors like increasing demand for cosmetics, due to reasons like the e-commerce boom, urbanization and others, and the growing manufacturing industry, the Vietnam cosmetics packaging market is in a bright spot and is expected to grow at 5.4% compounded annually during the forecast period from 2023 to 2030.
The Vietnamese market is known for its vibrant and diverse beauty industry, with a wide range of domestic and international cosmetic brands catering to the growing consumer demand. The packaging of cosmetic products plays a crucial role in attracting consumers, building brand identity and ensuring product safety and integrity. This has led to a thriving cosmetics packaging market in Vietnam, with a focus on innovation, sustainability, and meeting the evolving needs and preferences of Vietnamese consumers. By the year 2030 it is estimated that Vietnam cosmetics packaging market will be valued at USD 233.52 million as compared to USD 153.32 million in 2022. In this market, packaging manufacturers continuously strive to offer innovative and eco-friendly solutions that enhance the overall consumer experience and contribute to the growth of the cosmetics industry in Vietnam.
Minimalist Packaging
Minimalist packaging designs are gaining popularity in Vietnam cosmetics packaging market. Clean, sleek, and simple packaging with a focus on minimalistic branding and typography is favoured by consumers looking for a more sophisticated and high-end aesthetic. Premium packaging with luxurious finishes, embossing, and innovative textures are also in demand, as they convey a sense of exclusivity and quality. Simple appearances are often seen as representing transparency and reliability. This is the sensory platform on which businesses seek to interact with consumers. Packaging that is less complicated to design is going to be more environmentally friendly. Additionally, it emphasises product ingredient representation, which is linked to the sustainability trend.
Growing Demand for Cosmetics
Vietnam cosmetics market has experienced significant growth in recent years. Increasing disposable incomes, changing beauty standards and a growing middle-class population have led to a rise in demand for cosmetics products. This growth in the cosmetics market directly impacts the Vietnam cosmetics packaging market, growing cosmetics demands required varied packaging solutions, driving the need for innovative and attractive packaging solutions. Different types of plastics are used to manufacture tubes, containers and pallets, glass for jars and containers, and paperboard & cardboard for outer packaging are in high demand. Urbanization is one major factor driving the market of cosmetics in Vietnam, as more people move to cities and metropolitan areas the demand for such products rises. At the same time e-commerce segment is also gaining popularity among both urban and rural areas.
Eco-friendly and Sustainable Packaging
Consumers are increasingly conscious of packaging waste's environmental impact and seek products that align with their sustainability values. As a result, cosmetic brands are adopting recyclable materials and biodegradable packaging, and reducing the use of single-use plastics. Materials and manufacturing processes used in sustainable packaging have very few adverse impacts on the environment and energy consumption. Some eco-friendly packaging options are being developed and gaining popularity in Vietnam cosmetics packaging market are Corrugated Bubble Wrap, Mushroom Packaging and the use of paper and cardboard in packaging.
In June 2023, the "Collection Innovation" a plastic recycling and environmental protection programme was launched by Duy Tan with the catchphrase "Recycling plastic for a regenerated life," helping to advance the circular economy and environmental conservation.
Surging Popularity of Paper Box Packaging
Paper box packaging has gained significant traction in the Vietnam cosmetics packaging market. It is being increasingly preferred by cosmetic brands due to its eco-friendly nature and aesthetic appeal. But there is more to it, paper box packaging offers versatility in design and customization. Cosmetic brands can create unique and visually appealing packaging solutions using various printing techniques, finishes, and embossing. This allows them to differentiate their products and enhance their brand image. The paper box plays a key function in preventing damage and distortion that could compromise the quality of the cosmetics within. Paper box packaging offers cost-effective solutions for cosmetic brands. The raw materials for paper box packaging are readily available and relatively affordable compared to other packaging materials. This makes it an attractive option for both small and large-scale cosmetic manufacturers.
Impact of COVID-19
The COVID-19 pandemic has significantly impacted the Vietnam cosmetics packaging market. Like many other industries, the cosmetics sector faced various challenges due to the disruptions caused by the pandemic. One of the major impacts was the decline in consumer spending and the shift in consumer behaviour. With restrictions on movement and social distancing measures in place, the demand for cosmetics products decreased, leading to a decline in the need for packaging. The pandemic prompted changes in consumer preferences and priorities. Health and safety became paramount, and consumers prioritized products with hygienic and secure packaging.
The COVID-19 pandemic accelerated the adoption of e-commerce in the cosmetics industry thus, the need for packaging suitable for e-commerce increased. These changes in buying behaviour towards packaging are still prevalent among consumers along with sustainable packaging options. Major players in the Vietnam cosmetics packaging market are adapting to these changes to generate higher profits and revenues.
Key Players Landscape and Outlook
Outlook for in Vietnam Cosmetics Packaging Market is heavily positive, plastic is still the dominant packaging material segment, but the paper board and cardboard segment is likely to gain the most in the forecast period. Vietnam's cosmetics packaging market is driven by factors such as the growing cosmetics industry, increasing consumer demand for innovative and sustainable packaging, and government initiatives promoting eco-friendly practices. Even though the market is highly competitive, there are many major and minor players, but consistent market growth can accommodate all the players and provide ample opportunities. Van Nga Packaging, Duytan and HC Packaging are some renowned players in the market.
Meiyume, a popular name globally as a multi-material packaging company providing solutions for both primary and secondary packaging announced their expansion to enter the Vietnam cosmetics packaging market.