Glowing Growth: Vietnam’s Cosmetic Market Insights & Future Trends

Vietnam Cosmetics Market Research Report: Forecast (2025–2030)

Introduction

Vietnam's cosmetics industry is poised for significant growth between 2025 and 2030. Driven by a rising middle class, increasing disposable incomes, and evolving beauty standards, the market offers ample opportunities for both international and local brands. This report provides an in-depth analysis of market trends, key drivers, challenges, and future prospects.

Vietnam Cosmetics Market


Market Overview

  • Market Size: Valued at approximately USD 2.5 billion in 2024.
  • Projected Growth: Expected to reach USD 3.2 billion by 2030.
  • CAGR: Estimated at 4.2% during the forecast period (2025–2030).
  • Key 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), Amore Pacific Vietnam, Cocoon, among others.

Key Market Drivers

1. Rising Middle-Class Population

Vietnam's middle class is expanding rapidly, projected to reach 26% of the total population by 2026. This demographic shift leads to increased spending on personal care and beauty products.

2. Influence of Korean Beauty Trends

The popularity of K-beauty, characterized by natural ingredients and innovative formulations, has significantly influenced Vietnamese consumers. Imports from South Korea grew by 43.4% to USD 187.5 million in the first five months of 2023.

3. E-Commerce Expansion

Online platforms like Lazada, Shopee, and Tiki have revolutionized cosmetic retail in Vietnam. E-commerce sales contributed to 20.2% of the market in 2024, with projections to reach 24% by 2027.

4. Demand for Natural and Organic Products

Consumers are increasingly favoring products with natural ingredients, leading to a surge in demand for organic and vegan cosmetics. The natural cosmetics market is expected to surpass USD 62 million by 2025.

Market Segmentation

By Product Type

  • Skin and Sun Care Products: Leading segment with a 43% market share, driven by health consciousness and Vietnam's tropical climate.
  • Hair Care Products
  • Deodorants and Fragrances
  • Makeup and Color Cosmetics
  • Others

By Gender

  • Women: Dominant consumers, accounting for approximately 75% of the market.
  • Men: Emerging segment with a growth rate of about 9.1% annually, reflecting changing cultural attitudes towards male grooming.
  • Unisex

By Distribution Channel

  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Pharmacies
  • Online Stores: Fastest-growing channel due to convenience and variety.

Challenges and Opportunities

Challenges

  • High Tariff Rates: Imported cosmetics face tariffs ranging from 10% to 33%, affecting pricing and competitiveness.
  • Regulatory Hurdles: Compliance with the ASEAN Cosmetics Directive (ACD) and local regulations can be complex.

Opportunities

  • Men's Grooming Products: Increasing acceptance and demand for male cosmetics present growth opportunities.
  • Technological Integration: Utilizing AI and machine learning for personalized beauty solutions can enhance customer engagement. 

Future Outlook - The Vietnam cosmetics market is set for robust growth through 2030, supported by favorable demographics, digital transformation, and evolving consumer preferences. Brands that align with trends such as natural ingredients, e-commerce, and personalized products are well-positioned to capitalize on emerging opportunities.

Conclusion

Vietnam's cosmetics market is entering a transformative phase, shaped by a blend of cultural shifts, digital innovation, and rising consumer awareness. With the increasing influence of global beauty trends—especially K-beauty—coupled with a growing demand for organic and sustainable products, the market presents promising opportunities for both established players and emerging brands.

Companies that embrace personalization, invest in e-commerce channels, and align with evolving consumer values will be well-positioned to lead the market through 2030. While regulatory challenges and import tariffs remain hurdles, the long-term outlook for the Vietnamese cosmetics industry is undeniably strong. Strategic market entry, localization, and innovation will be key to thriving in this fast-growing beauty landscape.

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