Vietnam Cosmetics Market to Grow With Advancing Technology until 2027
Rising
disposable income is driving the growth of the Vietnam Cosmetics Market, in the
forecast period, 2023-2027F.
According to TechSci report on, “Vietnam
Cosmetics
Market - By
Region, Competition Forecast & Opportunities, 2027”
Vietnam cosmetics market is anticipated to
grow with an impressive CAGR in the forecast period, 2023-2027 on the account
of growing cosmetic
products industry in the country. Surging demands from the younger population,
and their intentions to follow the latest trends of makeup and selfcare is
actively driving the growth of the Vietnam cosmetics market in the upcoming
five years. Increasing product innovations, rapidly increasing technological
advancement in the manufacturing of the beauty products is also supporting the
growth of the Vietnam cosmetic market in the next five years. Consistent
research over advancing the products, increasing demand for the herbal, and
organic beauty products, and nature based skincare products haircare products,
are further substantiating the growth of the Vietnam cosmetics market in the
future five years. Also, increasing disposable income among the working class
population be it male or female is further anticipated to influence market
growth. Greater financial independence for working women, and surging attention
to grooming by men are also some of the major driving factors of the market
growth.
Moreover, construction
of new shopping malls and department stores has created opportunities for
global brands to directly reach out to affluent customers. Although due to
COVID-19 guidelines to halt pandemic effect, offline distribution channels were
shut down for a while, e-commerce channels, online platforms, and branded
websites, are generating major revenues and aiding to the market growth in the
forecast years. Convenience of home delivery and added schemes through multiple
channels, telemarketing, etc. are also influencing consumers choice to opt for
online platforms for the sales, and thus supports Vietnam cosmetics market
growth in the forecast period.
Browse over XX market data Figures
spread through 70 Pages and an
in-depth TOC on "Vietnam Cosmetics Market"
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The Vietnam
cosmetics market is segmented by category, distribution channel, competitional
landscape, and regional distribution. Based on category, the market is further
bifurcated into body care, hair care, color cosmetics, men's grooming,
fragrances, and others like talcum powder, face powder, hair removal creams,
etc. Body care category is anticipated to hold the largest revenue shares of
the market and dominate the market segment in the upcoming five years on the
account of increasing concerns among the population regarding their physical
appearances and beauty standards. Moreover, the demands are also increasing due
to environmental factors. Increasing pollution, dirt & dust, along with
increasing percentages of toxins in the air due to increased
industrializations, etc. is further anticipated to drive the growth of the
Vietnam cosmetics market in the next five years. Body care segment includes
products like facial products, body lotions, moisturizers, etc. Hair care
segment includes products like hair oils, hair cleansers, shampoos, hair
serums, hair masks, conditioners, etc. The segment is anticipated to hold
significant shares in the next five years due to increasing demands for the
better hair care products. Demands from the female population for longer,
stronger and shinier hair along with looking at the benefits of the organic
products for hair, is further aiding the growth of the Vietnam cosmetics market
in the forecast years. Fragrances subsegment is anticipated to register fastest
growth in the upcoming five years due to increasing demands for luxury goods.
Rapidly growing numbers of market players invested in providing luxury products
like fragrances and increasing penetration from the global brands in the
industry is also influencing the growth of the Vietnam cosmetics market in the
next five years.
Market segments
on the basis of distribution channel is further fragmented into general stores,
supermarket/ hypermarket, specialty stores, online sales channel, and others
like convenience store, departmental store etc. General stores are anticipated
to hold the largest revenue shares of the market and dominate the market
segment in the upcoming five years on the account of convenience of the
consumers and availability of the multiple brands & their products at one
place for the consumers to chose from. Moreover, online sales channel is
anticipated to register fastest growth in the next five years on the grounds of
developing e-commerce sector in the country. The market growth is majorly
influenced of evolving consumer’s shopping behavior. Advantages of home
delivery, multiple schemes, and offers for the regular customers, and
subscribers of the services, are some of the influential methods of the
e-commerce channels that promotes the market growth.
A partial list
of major market players of the Vietnam cosmetics market includes
·
Beiersdorf Vietnam co., ltd.
·
Unilever Vietnam
·
Procter & Gamble Company
·
Estee Lauder Companies Inc
·
L'Oréal Group
·
Shiseido Company Limited
·
Marico
·
Star Pacific
·
Thorakao
·
Vedette
·
Skina
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“Cosmetic industry in the country is expanding exponentially due to
rapidly increasing demands for the products from young populations of the
country. Surge in the demand for organic & herbal products and thus
increasing research and development to satisfy the consumer demands meanwhile
following the regulations of the authorities, is driving the growth of the
market. Government’s stringent regulations, and schemes related to the
products, their manufacturing and testing of authenticity all provide
confirmations of customer satisfaction. New market players may invest in
research and innovative product development along with the innovative packaging
for future brand establishments,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Vietnam
Cosmetics Market By Category (Body Care, Hair Care, Color Cosmetics, Men's
Grooming, Fragrances, Others (Talcum Powder, Face Powder, Hair Removal Creams,
etc.)), By Distribution Channel (General Stores, Supermarket/ Hyper Market,
Specialty Stores, Online Sales Channel, Others (convenience store, departmental
store etc.)) By Region, Competition Forecast & Opportunities, 2027” 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 Vietnam cosmetics market.
Contact
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