Vietnam Cosmetics Market to Grow with a CAGR of 5.74% through 2030

Vietnam cosmetics market is expanding rapidly, driven by rising beauty consciousness, urbanization, social media influence, and growing demand for natural products, especially among younger consumers and the middle-income population

According to TechSci Research report, “Vietnam Cosmetics Market – By Region, Competition, Forecast & Opportunities, 2030F”, the Vietnam Cosmetics market stood at USD 1.68 billion in 2024 and is anticipated to grow USD 2.34 billion by 2030 with a CAGR of 5.74% during forecast period. The Vietnam cosmetics market has witnessed rapid growth over the past decade, evolving into one of Southeast Asia’s most dynamic beauty industries. Driven by rising disposable incomes, urbanization, and a youthful population, the market is expanding in both value and diversity. Vietnamese consumers, especially millennials and Gen Z, are increasingly conscious of personal grooming and are willing to spend more on quality skincare, makeup, and personal care products. This shift in consumer behavior is also influenced by the increasing penetration of global beauty trends, largely facilitated by the internet, social media, and the growing impact of K-beauty and J-beauty.

Among the various product categories, skincare stands out as the dominating segment, commanding a significant share of the cosmetics market in Vietnam. Consumers are placing greater emphasis on maintaining healthy, glowing skin, and are turning to products like cleansers, moisturizers, sunscreens, serums, and anti-aging treatments. Awareness about the importance of sun protection and early skincare routines has been rising steadily, driven by educational content from influencers, dermatologists, and beauty bloggers. Furthermore, there is an increasing preference for natural, organic, and clean-label products, with local brands incorporating traditional ingredients like green tea, turmeric, and rice extract to appeal to the growing demand for safe and nature-based skincare.

Another notable trend is the growing male grooming segment. Vietnamese men are becoming more open to skincare and personal care routines, supported by shifting cultural norms and targeted marketing. Products such as facial cleansers, moisturizers, hair gels, and fragrances are increasingly popular among male consumers. Brands are responding by launching gender-specific product lines and campaigns that cater to male grooming needs, further expanding the overall market.

Despite the optimistic outlook, the Vietnamese cosmetics market faces several challenges. Counterfeit and low-quality products remain a concern, particularly in online and informal retail channels. Regulatory enforcement around product safety, labeling, and importation is still evolving, posing hurdles for both international and local players. Additionally, the market is highly competitive, with a flood of international, regional, and domestic brands all vying for consumer attention. Brand loyalty remains relatively low, making customer retention difficult without constant innovation and marketing investment.

Browse over xx market data Figures spread through xx Pages and an in-depth TOC on " Vietnam Cosmetics Market” 

The Vietnam Cosmetics market is segmented into type, gender, sales channel, and company.

Based on the sales channel, the online segment is the fastest-growing channel in the Vietnam cosmetics market, fueled by increasing internet penetration, smartphone usage, and consumer preference for convenience. E-commerce platforms like Shopee, Lazada, and Tiki, along with social commerce on TikTok and Facebook, are driving rapid growth by offering wide product selections, competitive pricing, and frequent promotions. Younger consumers, especially Gen Z and millennials, are highly engaged in digital spaces and influenced by beauty influencers and livestream shopping. The ability to access reviews and compare brands online has further boosted trust and adoption. As digital behavior deepens, online sales are set to outpace traditional channels.

Based on the region, Southern Vietnam, particularly Ho Chi Minh City, is the fastest-growing region in the cosmetics market. The region benefits from rapid urbanization, a young, tech-savvy population, and rising disposable incomes, contributing to increased demand for skincare, makeup, and personal care products. Southern Vietnam’s thriving retail landscape, with numerous shopping malls, specialty stores, and e-commerce platforms, has made beauty products more accessible. Additionally, the influence of international beauty trends, digital media, and social commerce is particularly strong in this region, further driving the growth of the cosmetics sector. Southern Vietnam’s dynamic consumer behavior positions it as a key market for future expansion.

Major companies operating in Vietnam Cosmetics market are:

• 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)

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“The Vietnam cosmetics market is experiencing significant growth, driven by a combination of demographic, economic, and cultural factors. Urbanization and rising disposable incomes are fueling consumer demand, especially among the youthful, tech-savvy population. As Vietnamese consumers become more aware of personal care and wellness, there is a growing preference for skincare and beauty products. The influence of Korean (K-beauty) and Japanese (J-beauty) beauty trends has been particularly prominent, shaping consumer preferences for high-quality and innovative skincare solutions. Additionally, the shift toward natural and organic products is gaining momentum, with consumers seeking environmentally friendly, cruelty-free options,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Vietnam Cosmetics Market, By Type (Skin Care, Hair Care, Bath & Shower Products, Makeup & Color Cosmetics, Fragrances & Deodorants, Others), By Gender (Men, Women), By Sales Channel (Supermarkets/Hypermarkets, Pharmacy, Departmental Stores, Multi-Branded Stores, Online, Others), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of Vietnam Cosmetics market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Vietnam Cosmetics market.

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