Press release
Vietnam's Cosmetics Industry Projects 4.2% CAGR Growth, Reaching USD 3.2 Billion by 2030
Vietnam Cosmetics Market Forecast
• Projected Growth: The Vietnam Cosmetics Market is estimated to grow at a CAGR of 4.2% from 2025 to 2030.
• Market Value: Expected to increase from USD 2.5 billion in 2024 to roughly USD 3.2 billion by 2030.
• Rising Demand: An increase in consumer awareness and preference for cosmetics is driving market demand significantly.
• Government Initiatives: Policies promoting industrial growth and the implementation of good manufacturing practices support domestic production.
• Sustainable Shift: A notable trend is the growing preference for sustainable and organic beauty products, affecting overall market dynamics.
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Competitive Landscape of Vietnam Cosmetics Market
The Vietnam Cosmetics Market is characterized by intense competition among numerous key players who are diversifying their product offerings and enhancing market presence. Companies are increasingly investing in sustainable practices and innovative technologies to meet the growing demand for cosmetics. Key players include:
• 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
• Others
These companies are significantly contributing to the expansion of the Vietnam Cosmetics Market through strategic initiatives and collaborations aimed at improving product accessibility and consumer engagement.
Key Takeaways from the Vietnam Cosmetics Market Report
The Vietnam Cosmetics Market is experiencing transformative shifts driven by changing consumer preferences, government support, and technological advancements in the beauty industry. The analysis indicates promising opportunities for local and international investors, fostering innovation while effectively responding to market demand. The collaboration between domestic and foreign manufacturers with government entities is crucial in shaping the market landscape, ensuring a versatile range of products meets diverse consumer needs.
Industry Recent Developments in Vietnam Cosmetics Market
• August 2024: Estée Lauder (Vietnam) Limited Cosmetics joined forces with IPP Travel Retail to open the first duty-paid boutique at Noi Bai International Airport, which will showcase the beauty house's key brands.
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Vietnam Cosmetics Market Segmentation
By Category
> Conventional- Market Size & Forecast 2020-2030, USD Million
> Organic- Market Size & Forecast 2020-2030, USD Million
By Product Type
> Skin and Sun Care Products- Market Size & Forecast 2020-2030, USD Million
> Hair Care Products- Market Size & Forecast 2020-2030, USD Million
> Deodorants and Fragrances- Market Size & Forecast 2020-2030, USD Million
> Makeup and Color Cosmetics- Market Size & Forecast 2020-2030, USD Million
> Others
By Gender
> Men- Market Size & Forecast 2020-2030, USD Million
> Women- Market Size & Forecast 2020-2030, USD Million
> Unisex- Market Size & Forecast 2020-2030, USD Million
By Distribution Channel
> Supermarkets and Hypermarkets- Market Size & Forecast 2020-2030, USD Million
> Specialty Stores- Market Size & Forecast 2020-2030, USD Million
> Pharmacies- Market Size & Forecast 2020-2030, USD Million
> Online Stores- Market Size & Forecast 2020-2030, USD Million
> Others
By Region
> Northern
> Southern
> Central
1. Based on Product: Skin and Sun Care Products Segment Lead the Market
Skin and Sun Care Products lead the market, capturing a significant share due to rising health consciousness and climate demands.
2. Based on Gender: Women's Segment Dominates the Market
The Women's segment dominates approximately 75% of the market share, driven by the strong participation of women in personal care and beauty routines.
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Frequently Asked Questions (FAQs) Related to Vietnam Cosmetics Market
• What is the current value of the Vietnam Cosmetics Market and how is it projected to change by 2030?
• What are the key factors driving the growth of the Vietnam Cosmetics Market?
• Who are the top companies operating in the Vietnam Cosmetics Market?
• How has the Vietnamese government influenced the cosmetics industry?
• What trends are emerging in the Vietnam Cosmetics Market regarding sustainable practices?
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• Global Anti-Ballistic Missile System Market size was valued at around USD 12.39 billion in 2024 and is projected to reach USD 19.29 billion by 2030. [Request Your Free Sample Now! https://www.marknteladvisors.com/research-library/anti-ballistic-missile-system-market.html ]
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