IMARC Group, a leading market research company, has recently releases report titled “Vietnam Cosmetics Market Report by Product Type (Skin and Sun Care Products, Hair Care Products, Deodorants and Fragrances, Makeup and Color Cosmetics, and Others), Category (Conventional, Organic), Gender (Men, Women, Unisex), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Pharmacies, Online Stores, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the Vietnam cosmetics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Vietnam Cosmetics Market?
Vietnam cosmetics market size reached US$ 1.61 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.46 Billion by 2032, exhibiting a growth rate (CAGR) of 4.58% during 2024-2032.
| Report Attribute | Key Statistics |
|---|---|
| Base Year | 2023 |
| Forecast Years | 2024-2032 |
| Historical Years | 2018-2023 |
| Market Size in 2023 | US$ 1.61 Billion |
| Market Forecast in 2032 | US$ 2.46 Billion |
| Market Growth Rate 2024-2032 | 4.58% |
Vietnam Cosmetics Market Trends and Drivers:
The growing disposable income is gaining the interest of consumers in personal grooming and skincare, which is one of the factors responsible for the growth of the Vietnam cosmetics market. Additionally, as the economy of Vietnam continues to expand, a rising middle class with more disposable income is spending more on beauty and personal care products, fueling the market. This demographic is particularly influenced by social media and celebrity endorsements, which play a significant role in shaping consumer preferences and beauty standards. Moreover, the young population of Vietnam, which constitutes a large portion of the demographics, is keen on experimenting with new and diverse cosmetic products that align with global beauty trends.
The Vietnam cosmetics market is also influenced by the increasing penetration of international brands, facilitated by trade liberalization and the easing of import regulations. In addition to this, the entry of global cosmetic giants into the market has intensified competition, prompting both local and international players to innovate and diversify their product offerings, and is acting as another growth-inducing factor. There is a noticeable shift towards natural and organic products, driven by escalating consumer concerns about the health impacts of synthetic ingredients, and a broader worldwide trend towards sustainability is positively impacting the market. This shift is encouraging manufacturers to develop products with natural ingredients, that are becoming highly popular among consumers and are anticipated to drive the Vietnam cosmetics market over the forecasted period.
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Vietnam Cosmetics Market Report Segmentation:
The report is organized into distinct sections as follows:
Product Type Insights:
- Skin and Sun Care Products
- Hair Care Products
- Deodorants and Fragrances
- Makeup and Color Cosmetics
- Others
Category Insights:
- Conventional
- Organic
Gender Insights:
- Men
- Women
- Unisex
Distribution Channel Insights:
- Supermarkets and Hypermarkets
- Specialty Stores
- Pharmacies
- Online Stores
- Others
Regional Insights:
- Northern Vietnam
- Central Vietnam
- Southern Vietnam
Ask Analyst for Customization and Explore Full Report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=15365&flag=C
Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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