Vietnam Skin Care Products Market Size, Share Report, Analysis, Trends, Growth 2030

According to the report published by Zion Market Research, the global Vietnam Skin Care Products Market size was valued at USD 860.4 Million in 2022 and is predicted to reach USD 1,920.70 Million by the end of 2030. The market is expected to grow with a CAGR of 10.56% during the forecast period. The report analyzes the global Vietnam Skin Care Products Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Vietnam Skin Care Products Market industry.Request Free Sample

Vietnam Skin Care Products Market: Overview

With the time being ripe for exploiting the opportunities presented by the Vietnamese market for skin care products, multiple companies of Japan and South Korea are targeting to increase their operation in the region. The young technophile populace of Vietnam is highly interested to try newer and advanced products, which will further contribute towards increasing the need for such products.

International brands which include Este Lauder, Colgate-Palmolive, and LOreal amass a substantial portion of the Vietnam skin care products market share because the local and regional companies providing grooming products lack innovation of products, have less attractive & less cost-effective packaging, and also have weaker marketing strategies.

Vietnam Skin Care Products Market: Growth Factors

A strong urge for maintaining a youthful hue is a major growth factor stimulating the requirements for skin care products among men and women alike. There has been a rise in the number of grooming influencers and beauticians due to the rising aging population which focuses on staying youthful and appearing younger by preventing dry skin, wrinkles, uneven skin tone, and age spots, hence stimulating the expansion of the Vietnam skin care products market.

However, the rising concerns among customers about the potential multiple side effects of skin care products not only on a person’s body but also the environment is a factor hampering the expansion of Vietnam skin care products market size. Having a negative impact on the environment, skin care products increase the chemical waste output from industries hence degrading the soil and water into which they are released. Also, several products can cause allergies and irritations to people with sensitive skin types. To this end, more and more people are opting for natural skin care products due to the reactions caused by parabens, fragrances, SLS (Sodium Lauryl Sulfate), phthalates, lead, triclosan, coal tar, oxybenzone, hydroquinone, and petrolatum. These chemicals could have negative effects on the skin if they are overused for a long period of time.

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Vietnam Skin Care Products Market: Segmentation

The Vietnam skin care products market can be segregated into demographics, product type, distribution channel, and age group. Based on demographics, the market is segmented into male and female. On the basis of product type, the Vietnam skin care products industry is bifurcated into lotion, cream, and others. By distribution channel, the market can be categorized as beauty salons, online retail platforms, specialty stores, supermarket & hypermarket, and pharmaceutical drug stores. By age group, the market is classified into generation X, generation Y (millennials), and generation Z.

On the basis of demographics, the female sub-segment dominates the market in terms of market share. The male sub-category is projected to have a higher CAGR due to the increasing awareness regarding grooming and skin care among men.

By product type, the cream category is expected to claim a large share of the Vietnam skin care products market, and this trend is highly probable to continue in the forthcoming timeframe.

Hypermarket & supermarket distribution channel is anticipated to exhibit the fastest expansion in the forecast period due to the growing volume of people frequenting hypermarkets and supermarkets.

Based on the age group, generation Y or millennials might account for a major chunk of the market.

Vietnam Skin Care Products Market: Report Scope

Vietnam Skin Care Products Market: Regional Analysis

Vietnam has been recording remarkable growth rates in its retail sector owing to the rapid surge in the urban middle-class populace in Southeast Asia. This expansion of retail sector is expected to continue because Vietnamese population is relatively younger. Additionally, the lower income groups are increasingly witnessing a surge in their disposable incomes, which in turn will positively impact their taste and fashion sense in terms of grooming and cosmetic products. These customers are more inclined towards ultra-modern products which provide better results.

Additionally, the advancement in the online retail platforms in Vietnam is anticipated to be one of the factors augmenting the growth of the Vietnam skin care products industry size. Although there has been a surge in the implementation of online retail platforms, the physical or offline platforms still hold a major portion of the retail sector. This trend is here to stay in the forecast times.

Vietnam Skin Care Products Market: Competitive Players

The key companies operating in the Vietnam skin care products industry include the:

• Procter Gamble Company
• Estee Lauder Companies Inc.
• Avon Products
• LOreal
• Shiseido Company Limited
• Unilever Vietnam.
• Saigon Cosmetics Corporation
• Dai Viet Huong Company Limited.

The global Vietnam Skin Care Products Market is segmented as follows: 

By Demographics 

• male
• female 

By Product type 

• lotion 
• cream
• others 

By Distribution channel 

• beauty salons 
• online retail platforms 
• specialty stores 
• supermarket & hypermarket 
• and pharmaceutical drug stores 

By age group 

• generation X 
• generation Y (millennials) 
• and generation Z. 

Vietnam Skin Care Products Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.