Press Release

By 2030, Vietnam Cosmetics Market to Reach USD 3.2 Billion Mark at an Estimated CAGR of Around 4.2%”

The Vietnam Cosmetics Market size was valued at USD 2.5 Billion in 2024 and is projected to reach USD 3.2 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.2% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. This growth has multiple causes. One of such causes is increased disposable income over the transition to a middle-income nation, hence consumers have become able to spend more on aesthetically pleasing products. Urbanization too has played a role whereby migration to cities like Hanoi and Ho Chi Minh City has increased the demand for internationally trend-based cosmetics. In addition, lifted awareness of self-care and beauty practices, prompted predominantly by social media and digital marketing, contributed to acquired customer interest. Western and Korean beauty trends have, above all, surged in popularity propelling market growth. Also, one of the advantages of e-commerce is easy access to many beauty products, further fueling the rising preference for shopping online.

Also, various growth opportunities are provided by the market. International brands are also enlarging their targets towards Vietnam, which provides domestic players a chance to create and build new brands. The clean and sustainable beauty trends sparked innovation, giving rise to the emergence of many new and alluring products. Additionally, consumers are increasingly seeking cosmetics that offer health benefits alongside aesthetic enhancements including the use of natural & organic products.

Additionally, several challenges can impact the market growth. The fierce competition from both domestic and international brands makes it quite difficult for any entrant to secure market share. Also Ensuring compliance with local regulations and standards is another hurdle, especially for new market players. Moreover, the economic fluctuations would also affect consumer spending on non-essential items, such as cosmetics, thus affecting market stability. The tariffs put on cosmetics already provide another level of difficulties against the growing market, further states the research report, “Vietnam Cosmetics Market Analysis, 2025.”

Vietnam Cosmetics Market Segmentation Analysis

Women Are the Main End-User of Cosmetics Products

Based on Gender, the market is further bifurcated into Men, Women, and Unisex. Out of them, the Women segment dominates the market. It holds approximately 75% of the total market value. Women are major consumers of beauty and personal-care products, with a keen interest in skincare, make-up, and hair care. The influence of social media and beauty influencers in shaping women's purchasing behaviors and trends has taken giant strides forward. In addition, the growing disposable incomes and urbanization of the womenfolk have increased the spending on beauty & self-care in Vietnam. The rising interest in Western and Korean beauty trends also plays a part in the growth of the segment. Thus, the large share of women in the beauty market signifies that women will be the key pacesetters of continued growth in Vietnam's cosmetics industry.

Skin & Sun Care Products Generate Maximum Market Revenue

The skin and sun care products segment leads the Vietnam Cosmetics Market with approximately 43% market share. Several factors are creating maximum demand for these products. More consumer awareness of skin and sun protection arises out of rising health consciousness and beauty trends in Vietnam. Social media and beauty influencers are influencing people to consider more skincare routines, while the tropical climate draws major attention toward sunscreens for everyday care. Furthermore, the current preference of a growing middle class possessing higher disposable incomes to invest in quality skincare products. This has further boosted the segment's growth in the market. Also, the preference for these products is enriched with health promises like anti-aging and hydration continues to reinforce upward consumption trends in the Vietnam Cosmetics Industry.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including 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), Amore Pacific Vietnam, Cocoon, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report                                  

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the nation?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?