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

Market Overview

Vietnam Cosmetics Market was valued 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 is experiencing robust growth, fueled by rising disposable incomes, urbanization, and increasing awareness of personal grooming and beauty standards. The growing influence of social media, international beauty trends, and a youthful population have significantly boosted demand for skincare, makeup, and personal care products. Consumers, particularly Gen Z and millennials, are shifting preferences toward natural, organic, and cruelty-free cosmetics. International brands are expanding their presence, while local companies are innovating to remain competitive. E-commerce platforms and beauty influencers are playing a key role in shaping buying behavior, making the market dynamic and full of opportunities for growth.

The Vietnam E-Commerce Association reported that beauty and personal care accounted for 22% of online retail sales in 2024, up from 15% in 2022.

Key Market Drivers

Rising Beauty Awareness and Shifting Consumer Preferences

One of the most significant drivers of the Vietnam cosmetics market is the increasing beauty consciousness among the population. Vietnamese consumers, particularly women and younger generations, are becoming more aware of personal grooming, skincare, and overall aesthetics. This shift is partly influenced by global beauty standards and the widespread use of social media platforms like TikTok, Instagram, and YouTube, where influencers and celebrities showcase skincare routines and makeup trends. As a result, consumers are actively seeking high-quality cosmetics to enhance their appearance and maintain youthful, healthy skin.

Moreover, the demand for specific beauty products such as sunscreens, anti-aging creams, facial masks, and organic skincare solutions has increased. Consumers are becoming more selective, opting for products tailored to their skin types and needs. This changing behavior is pushing brands to develop innovative, diverse, and functional cosmetics, further stimulating market expansion.

Social media influencers and key opinion leaders (KOLs) play a pivotal role in shaping consumer preferences, particularly among Gen Z and millennials, who constitute 78% of premium organic cosmetics buyers. As a result, consumers are actively seeking high-quality cosmetics to enhance their appearance and maintain youthful, healthy skin.

Youthful Demographics and Urbanization

Vietnam’s young and urbanizing population is a key demographic factor propelling the cosmetics market. With over half of its population under the age of 35, Vietnam has a vibrant consumer base that is open to experimenting with beauty trends and products. Younger consumers are particularly drawn to skincare regimens, K-beauty and J-beauty trends, and innovative formats like serums, ampoules, and cushion foundations.

Urbanization has also led to increased exposure to international lifestyles, higher standards of living, and greater access to a wide range of beauty products. Consumers in urban centers such as Ho Chi Minh City, Hanoi, and Da Nang are leading the demand for premium and imported cosmetics, often associating beauty products with social status and confidence. The busy urban lifestyle also supports the growth of compact, multi-functional cosmetics suited for on-the-go use, including BB creams, stick foundations, and all-in-one skincare.

Vietnam's population is notably young, with a median age of 33.4 years in 2025. This youthful demographic is more inclined towards personal grooming and beauty products, influenced by global trends and social media. The age group of 15–64 years constitutes approximately 68.3% of the population in 2023, representing a substantial consumer base for cosmetics.

Influence of Natural and Organic Product Trends

Vietnamese consumers are showing a growing preference for natural, organic, and cruelty-free cosmetics, mirroring a global shift toward clean beauty. Concerns over chemical ingredients, environmental sustainability, and skin health have encouraged consumers to seek safer, eco-friendly alternatives. Ingredients such as green tea, aloe vera, turmeric, and rice extracts — many of which are locally sourced — are gaining popularity due to their perceived skin benefits and cultural relevance.

This trend has opened the door for both international green beauty brands and local startups to thrive. Domestic companies are leveraging Vietnam’s rich biodiversity and herbal traditions to create unique product lines that resonate with environmentally conscious consumers. Additionally, government initiatives promoting sustainable development and product safety regulations are supporting the growth of this segment. As awareness of wellness and environmental issues rises, the demand for clean beauty products is likely to accelerate further in the Vietnamese cosmetics market.

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Key Market Challenges

Intense Market Competition and Brand Saturation

One of the primary challenges in the Vietnam cosmetics market is the growing intensity of competition. The sector is becoming increasingly crowded with a mix of international giants, regional players, and local startups, all vying for consumer attention. Global brands such as L'Oréal, Shiseido, and The Face Shop continue to dominate in terms of brand recognition and trust. At the same time, Korean and Japanese beauty products are highly favored due to their innovative formulations, affordability, and alignment with Asian skin types.

Meanwhile, the domestic market is seeing a surge in local brands attempting to carve out niches using natural ingredients and traditional herbal remedies. This oversaturation makes it difficult for emerging players to stand out, especially in a market where consumers are overwhelmed with choices. Moreover, brand loyalty in Vietnam remains relatively low, particularly among younger consumers who frequently switch products based on online reviews, influencer recommendations, and new product launches. As a result, companies must constantly innovate and invest heavily in marketing to maintain visibility and customer retention.

Regulatory Challenges and Counterfeit Products

Vietnam’s regulatory environment for cosmetics, although improving, still presents several hurdles for businesses. While the government has implemented guidelines for product registration, labeling, and safety, enforcement can be inconsistent. This creates difficulties for legitimate brands trying to ensure compliance and maintain quality standards. The lack of strict enforcement also opens the door for counterfeit and low-quality products to enter the market, especially through unregulated online and informal retail channels.

The presence of counterfeit cosmetics poses a serious threat to consumer safety and brand reputation. Fake products often mimic packaging of well-known brands but contain harmful or unverified ingredients. Despite consumer awareness campaigns and periodic crackdowns by authorities, counterfeit cosmetics remain a persistent problem, eroding consumer trust and potentially damaging the market’s credibility.

Key Market Trends

Increasing Popularity of Male Grooming Products

The male grooming segment is emerging as a fast-growing trend in Vietnam’s cosmetics market. Driven by changing social norms, urbanization, and greater media exposure, Vietnamese men are becoming more conscious of skincare and personal grooming. Products such as facial cleansers, moisturizers, sunscreens, hair styling gels, and fragrances are seeing increased demand among male consumers.

Brands are now developing gender-specific product lines and marketing campaigns that cater to male preferences and concerns, such as oily skin, acne control, and anti-aging. Men’s grooming is also being promoted through social media, with male influencers and celebrities playing a significant role in normalizing skincare routines for men. This trend not only opens up a new consumer segment but also reflects the broader shift toward inclusivity and self-care in the beauty industry.

Rise of Customized and Functional Cosmetics

As Vietnamese consumers become more informed and demanding, there is growing interest in personalized and functional cosmetics. Products designed to address specific skin concerns—such as acne, pigmentation, aging, dryness, or sensitivity—are gaining popularity. Consumers are seeking targeted treatments and multi-functional products that combine skincare and makeup benefits, such as BB creams with SPF, anti-aging serums with moisturizing properties, or tinted sunscreens.

The demand for customization is also reflected in the rise of diagnostic tools and AI-driven beauty tech that analyze skin conditions and recommend tailored product regimens. Some advanced beauty retailers and clinics are offering personalized skincare services and customized formulations based on individual needs.

Segmental Insights

Type Insights

Skincare was the dominating segment in the Vietnam cosmetics market, driven by increasing consumer awareness of skin health, rising demand for anti-aging and sun protection products, and the influence of K-beauty trends. Vietnamese consumers prioritize products such as cleansers, moisturizers, serums, and sunscreens in their daily routines, reflecting a shift toward preventive and holistic skincare. The popularity of natural and organic ingredients has further boosted demand, alongside growing interest in personalized skincare solutions. With strong digital engagement and the influence of beauty influencers, the skincare segment continues to outperform others, attracting both international brands and innovative local startups.

Sales Channel Insights

Supermarkets/Hypermarkets was the dominating distribution channels in the Vietnam cosmetics market, owing to their wide product variety, accessibility, and consumer trust. These retail formats offer a one-stop shopping experience where customers can conveniently compare brands, test products, and access promotional deals. Many consumers still prefer physical stores for cosmetics purchases to assess product authenticity and quality firsthand. Additionally, leading retailers such as Co.opmart, Lotte Mart, and Big C have expanded their beauty sections, often featuring both international and local brands. Their strong in-store visibility and nationwide presence make them a preferred choice for mainstream cosmetic shopping in Vietnam.

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Regional Insights

Northern Vietnam was the dominating region in the Vietnam cosmetics market, driven by its high population density, rising urbanization, and strong economic development centered around Hanoi. The region's growing middle class and increasing disposable income contribute to higher consumer spending on personal care and beauty products. Moreover, the presence of major retail chains, shopping malls, and beauty specialty stores enhances product accessibility. Northern consumers are also highly influenced by global beauty trends through digital platforms, fueling demand for skincare and makeup. The region's dynamic retail infrastructure and evolving consumer preferences make it a key hub for cosmetic sales and brand expansion.

Recent Developments

• In Oct 2023, SK-II has entered the Vietnamese market, opening a flagship store in Ho Chi Minh City’s Takashimaya Saigon Centre. This move targets Vietnam’s rapidly growing luxury skincare sector, driven by rising disposable incomes and a youthful, trend-conscious population. The store features SK-II’s Magic Scan technology, utilizing AI and facial recognition to offer personalized skincare diagnostics.

• In June 2023, Baemin, a South Korean food delivery app, has launched Lazy Bee, a Vietnamese beauty brand offering skincare and makeup products. Lazy Bee's product lineup includes 11 items such as facial mist, toner pads, facial masks, cushion foundation, and lipsticks.

• In Aug 2024, Australian skincare brand G&M Cosmetics has launched in Vietnam, introducing its Australian Creams MKII Gold Series in over 500 retail outlets nationwide, including Guardian Pharmacy and Sammy Beauty Shop. G&M Cosmetics also offers its products on e-commerce platforms like Shopee and Lazada, aiming to strengthen its presence in the Southeast Asian market.

• In Sep 2024, Meiyume, is an end-to-end beauty manufacturing, has expanded into Vietnam's dynamic beauty market. This strategic move enables local beauty brands to leverage Meiyume's science-driven solutions, including rapid prototyping, to develop tailored products that resonate with Vietnamese consumers.

Key Market Players

• 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)

Report Scope:

In this report, the Vietnam Cosmetics Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Vietnam Cosmetics Market, By Type:

o   Skin Care

o   Hair Care

o   Bath & Shower Products

o   Makeup & Color Cosmetics

o   Fragrances & Deodorants

o   Others

• Vietnam Cosmetics Market, By Gender:

o   Men

o   Women

• Vietnam Cosmetics Market, By Sales Channel:

o   Supermarkets/Hypermarkets

o   Pharmacy

o   Departmental Stores

o   Multi-Branded Stores

o   Online

o   Others

• Vietnam Cosmetics Market, By Region:

o   Northern Vietnam

o   Southern Vietnam

o   Central Vietnam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Vietnam Cosmetics Market.

Available Customizations:

Vietnam Cosmetics Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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