Vietnam Cosmetics Market Overview
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: USD 1.7 Billion
Market Forecast in 2033: USD 2.8 Billion
Market Growth Rate (2025-33): 5.3%
Vietnam cosmetics market size reached USD 1.7 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 2.8 Billion by 2033, exhibiting a growth rate (CAGR) of 5.3% during 2025-2033. The male grooming market is expanding, driven by factors such as higher income levels within the middle class, the rising popularity of Korean beauty trends, and a growing emphasis on achieving healthy and glowing skin. As men increasingly prioritize self-care, there is a noticeable shift toward investing in grooming products. The dominant categories in the market include skin and sun care, hair care, deodorants, and fragrances, all of which contribute significantly to its growth. Furthermore, there is a rising demand for organic and natural cosmetic in Vietnam products, as consumers become more mindful of the ingredients in their grooming routines.
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Vietnam Cosmetics Market Trends and Drivers:
The Vietnamese cosmetics sector has been transformed by the rise of a tech-savvy and demanding consumer base. A customary brick and mortar versus e-commerce competition model has been phased out to accommodate a more advanced omnichannel model. A major trend is the rapid rise of social commerce. This includes selling through platforms like TikTok Shop and social commerce on Facebook, which double as entertainment and educational platforms for users to learn and shop. KOLs and KOCs also create trusted product presents with high levels of purchase intent alongside branded e-commerce sites and brand stores on social e-commerce platforms such as Shopee and Lazada, whereby the brand directly engages with consumers and acquires user interaction and purchase data. The bricks-and-mortar location, however, is increasingly focused upon improving the physical shopping experience. Consumers discover beauty brands online, and consumers then visit flagship locations for the sensorial experiences, for expert skin diagnostics, and for one-on-one consultations that consumers cannot get online. These increasingly converging touchpoints now loop feedback about consumers powerfully. They blend digital and experiential retail into a new global standard for cosmetic retail strategy and consumer experience. That will force brands toward excellence. They must create content and offer high-touch hospitality. They must do it to compete and grow in this evolving environment.
Vietnamese consumers are becoming more ingredient-savvy and are increasingly interested in researching products that actually do what they claim for the skin. The demand for ‘clean’ beauty products in Vietnam (in Vietnam, ‘clean’ cosmetics are those that do not use harmful bleaching agents, parabens and sulfates and list all ingredients in order of concentration) is also growing. The demand is also associated with the “skin-nutrition” or “skinimalism” trend, whereby consumers want multifunctional products that can offer both short and long-term benefits to the skin barrier, like products that contain scientifically proven bioactive ingredients (e.g. niacinamide, ceramides) such as centella asiatica or fermented ingredients like rice-derived ferment (fermented rice) or galactomyces. Skincare and cosmetics share similarities because breathable serums and high-PA high-SPF tinted sunscreens are now daily staples. Consumers who understand beauty comparison-shop ingredient lists they also look for clinical trials in addition they seek dermatology endorsements which forces brands to invest in the research and development muscle necessary for scientific validation. Local brands, adapting to the climate and skin conditions in Vietnam, mix these products with local ingredients, verified with modern scientific research to meet changing consumer demands, seeking to meet the increasing standards of efficacy and safety.
The trend of premiumization is strong, driven by higher consumer spending per capita, increased disposable income, and a growing middle-income population that views high-value cosmetics as investment in beauty. Mass-market cosmetics will continue to be important, though growth will be faster in the mid-to-high-end and luxury segments, which are typically higher margin segments. But premium brands use a different model, and affiliation with an international brand is not enough because localizing the brand plus resonating with the local culture is critical. Global brands also research markets for understanding Vietnamese beauty preferences, available skin tones, and local environmental factors (humidity, pollution, etc.) and produce region-specific shades/texture products that consider the region’s tropical humidity. Popular local celebrities, Vietnamese beauty ideals, and local cultural references are also used by global beauty brands to hyper-localize marketing and attract Vietnamese consumers as a response to the country’s emergence as a key Asian market. A new generation of local, premium brand producers are coming in using national narratives and local botanicals like nghe (turmeric), tram huong (agarwood), and competing to be the most authentic choice for the modern Vietnamese consumer. It’s a competitive field, but the winner is the consumer, who is enjoying an increasingly diverse selection of quality products that have cultural meaning and relevance.
Vietnam Cosmetics Market Industry Segmentation:
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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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