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Vietnam Skin Care Products Market Report and Forecast 2024-2032
Market Report I 2024-05-02 I 171 Pages I EMR Inc.
Vietnam Skin Care Products Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the Vietnam skin care products market size reached a value of USD 1.20 billion in 2023. Aided by an increasing awareness of skincare routines among the Vietnamese population and a growing interest in both international and local beauty brands, the market is projected to further grow at a CAGR of 9.5% between 2024 and 2032 to reach a value of USD 2.79 billion by 2032.
Skincare products are a broad range of items specifically formulated to maintain, improve, or enhance the health and appearance of the skin. These products are designed to cater to various skin types and conditions, offering solutions for hydration, cleansing, exfoliation, protection, and repair. The primary goal of skin care products is to keep the skin in a healthy condition, addressing concerns such as dryness, oiliness, acne, ageing signs, and sensitivity.
In Vietnam, skincare is not just a regimen; it is an evolving culture that spans all age groups and demographics. The Vietnam skin care products market growth is fuelled by a robust demand for a wide range of products, from basic moisturisers and sunscreens to advanced anti-ageing and skin whitening treatments. This demand is underpinned by a deep-rooted belief in the importance of skin health as a cornerstone of overall wellness and beauty.
As the Vietnamese economy continues to grow, so does the disposable income of its population. This financial empowerment enables consumers to invest more in premium skincare products, driving Vietnam skin care products market expansion. There's a growing awareness among Vietnamese consumers about the importance of skin health, thanks to widespread access to information via the internet and social media. This has led to a more informed consumer base that is keen on maintaining healthy skin through the use of various skincare products.
The influence of Korean and Japanese beauty standards (K-Beauty and J-Beauty) has been significant in shaping the preferences and practices of Vietnamese consumers and boosting the Vietnam skin care products market share. The popularity of these beauty regimes, known for their emphasis on skincare, has spurred the demand for related products in Vietnam.
There is an increasing trend towards natural and organic skincare products among Vietnamese consumers. This shift is driven by a growing concern for health and the environment, leading to a higher demand for products formulated with natural ingredients. As per the Vietnam skin care products market analysis, the expansion of both online and offline distribution channels has made skincare products more accessible to consumers across Vietnam. E-commerce platforms, in particular, have seen a surge in skincare product sales, thanks to the convenience and variety they offer.
Local brands have the opportunity to leverage their understanding of Vietnamese skin types and preferences to formulate products that cater specifically to the skin care products market in Vietnam. Meanwhile, international brands can capitalise on their global reputation for quality and efficacy to capture and expand their market share in Vietnam.
Vietnam's skincare market benefits from cutting-edge formulation technologies that enable the creation of highly effective, multifunctional products. These innovations include encapsulation technology, which ensures active ingredients are delivered more effectively to the skin, and fermentation technology, used to enhance the potency of natural ingredients. Such advancements allow for products that offer targeted solutions for specific skin concerns, such as ageing, acne, and hyperpigmentation, appealing to consumers seeking personalised skincare regimes. As per the Vietnam skin care products market outlook, technological innovations extend to personalised skin analysis tools, which are becoming increasingly popular in Vietnam. These tools, available as smartphone apps or in-store devices, use artificial intelligence (AI) and machine learning to assess skin conditions and recommend products tailored to individual needs.
Market Segmentation
The market can be divided based on type, product, ingredient, gender, price category, and distribution channel.
Market Breakup by Type
- Facial Care
- Body Care
- Others
Market Breakup by Product
- Face Creams and Moisturisers
- Cleansers and Face Wash
- Face Masks and Packs
- Sunscreen
- Body Creams and Moisturisers
- Body Wash
- Others
Market Breakup by Ingredient
- Natural
- Chemical
Market Breakup by Gender
- Men
- Women
- Unisex
Market Breakup by Price Category
- Premium
- Mass
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Speciality Stores
- Online
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Vietnam skin care products market. Some of the major players explored in the report by Expert Market Research are as follows:
- Shiseido Co Ltd.
- Unilever PLC
- L'Oreal SA
- Estee Lauder Companies Inc.
- Procter & Gamble Company
- Beiersdorf AG
- Revlon, Inc.
- Amorepacific Corporation
- DECIEM Beauty Group Inc.
- Saigon Cosmetics Corporation
- Marico Limited
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Skin Care Products Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Skin Care Products Historical Market (2018-2023)
8.3 Asia Pacific Skin Care Products Market Forecast (2024-2032)
9 Vietnam Skin Care Products Market Overview
9.1 Key Industry Highlights
9.2 Vietnam Skin Care Products Historical Market (2018-2023)
9.3 Vietnam Skin Care Products Market Forecast (2024-2032)
10 Vietnam Skin Care Products Market by Type
10.1 Facial Care
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Body Care
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 Others
11 Vietnam Skin Care Products Market by Product
11.1 Face Creams and Moisturisers
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Cleansers and Face Wash
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Face Masks and Packs
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Sunscreen
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Body Creams and Moisturisers
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Body Wash
11.6.1 Historical Trend (2018-2023)
11.6.2 Forecast Trend (2024-2032)
11.7 Others
12 Vietnam Skin Care Products Market by Ingredient
12.1 Natural
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Chemical
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
13 Vietnam Skin Care Products Market by Gender
13.1 Men
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 Women
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Unisex
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
14 Vietnam Skin Care Products Market by Price Category
14.1 Premium
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Mass
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 Vietnam Skin Care Products Market by Distribution Channel
15.1 Supermarkets and Hypermarkets
15.1.1 Historical Trend (2018-2022)
15.1.2 Forecast Trend (2023-2028)
15.2 Convenience Stores
15.2.1 Historical Trend (2018-2022)
15.2.2 Forecast Trend (2023-2028)
15.3 Speciality Stores
15.3.1 Historical Trend (2018-2022)
15.3.2 Forecast Trend (2023-2028)
15.4 Online
15.4.1 Historical Trend (2018-2022)
15.4.2 Forecast Trend (2023-2028)
15.5 Others
16 Market Dynamics
16.1 SWOT Analysis
16.1.1 Strengths
16.1.2 Weaknesses
16.1.3 Opportunities
16.1.4 Threats
16.2 Porter's Five Forces Analysis
16.2.1 Supplier's Power
16.2.2 Buyer's Power
16.2.3 Threat of New Entrants
16.2.4 Degree of Rivalry
16.2.5 Threat of Substitutes
16.3 Key Indicators for Demand
16.4 Key Indicators for Price
17 Trade Data Analysis (HS Code - 3304)
17.1 Major Importing Countries
17.1.1 By Volume
17.1.2 By Value
17.2 Major Exporting Countries
17.2.1 By Volume
17.2.2 By Value
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Shiseido Co Ltd.
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Unilever PLC
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 L'Oreal SA
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Estee Lauder Companies Inc.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Procter & Gamble Company
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Beiersdorf AG
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Revlon, Inc.
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Amorepacific Corporation
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 DECIEM Beauty Group Inc.
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Saigon Cosmetics Corporation
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Marico Limited
18.2.11.1 Company Overview
18.2.11.2 Product Portfolio
18.2.11.3 Demographic Reach and Achievements
18.2.11.4 Certifications
18.2.12 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Skin Care Products Market: Key Industry Highlights, 2018 and 2032
2. Vietnam Skin Care Products Market: Key Industry Highlights, 2018 and 2032
3. Vietnam Skin Care Products Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Vietnam Skin Care Products Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Vietnam Skin Care Products Historical Market: Breakup by Product (USD Billion), 2018-2023
6. Vietnam Skin Care Products Market Forecast: Breakup by Product (USD Billion), 2024-2032
7. Vietnam Skin Care Products Historical Market: Breakup by Ingredient (USD Billion), 2018-2023
8. Vietnam Skin Care Products Market Forecast: Breakup by Ingredient (USD Billion), 2024-2032
9. Vietnam Skin Care Products Historical Market: Breakup by Gender (USD Billion), 2018-2023
10. Vietnam Skin Care Products Market Forecast: Breakup by Gender (USD Billion), 2024-2032
11. Vietnam Skin Care Products Historical Market: Breakup by Price Category (USD Billion), 2018-2023
12. Vietnam Skin Care Products Market Forecast: Breakup by Price Category (USD Billion), 2024-2032
13. Vietnam Skin Care Products Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
14. Vietnam Skin Care Products Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
15. Major Importing Countries by Volume
16. Major Exporting Countries by Volume
17. Major Importing Countries by Value
18. Major Exporting Countries by Value
19. Vietnam Skin Care Products Market Structure
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