Vietnam Skin Care Products Market Report and Forecast 2024-2032

Vietnam Skin Care Products Market Outlook

The Vietnam skin care products market size reached approximately USD 1.20 billion in 2023. The market is estimated to grow at a CAGR of 9.5% in the forecast period of 2024-2032, reaching a value of around USD 2.79 billion by 2032.

Key Trends in the Market

Skincare products encompass a broad range of products that enhance the health and appearance of the skin. They offer specific solutions for various skin issues such as acne, dryness, dehydration, dullness, oiliness, hyperpigmentation, and fine lines, among others.

• Growing demand for organic and natural skincare products, due to the rising concerns regarding the harmful effects of chemicals on the skin, is a prominent Vietnam skin care products market trend.

• The burgeoning popularity of sun protection products such as sunscreens, sunblocks, and sun sticks, among others, due to the hot and humid climate of Vietnam is also a major trend aiding the market expansion.

• The rising trend of skin minimalism has fuelled the demand for hybrid products that offer the goodness of both skincare and make-up such as primer moisturiser and concealer serum, among others, further providing impetus to the Vietnam skin care products market growth.

• Several market players in the country also provide the facility of skin testing and consultation to offer a personalised skincare experience to their customers and enhance their brand value.

Market Analysis

Based on type, the market is classified into facial care, and body care, among others. On the basis of product, the market is categorised into face creams and moisturisers, cleansers and face wash, face masks and packs, sunscreen, body creams and moisturisers, and body wash, among others.

Based on ingredient, the market is bifurcated into natural and chemical. The Vietnam skin care products market segmentation, on the basis of gender, includes men, women, and unisex.

Based on price category, the market is classified into premium and mass. On the basis of distribution channel, the market is divided into supermarkets/hypermarkets, convenience stores, speciality stores, and online, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Vietnam skin care products market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Shiseido Co Ltd.   

• Unilever PLC   

• L'Oreal SA  

• Estee Lauder Companies Inc.  

• Procter & Gamble Company  

• Beiersdorf AG  

• Revlon, Inc.  

• Amorepacific Corporation  

• DECIEM Beauty Group Inc.  

• Saigon Cosmetics Corporation  

• Marico Limited  

• Others

Market Share by Type

Facial care occupies a significant portion of Vietnam skin care products market share owing to the growing trend of self-care and the increasing focus on bolstering the appearance of the face. Face toners are also gaining popularity as an additional step in the facial care routine for providing an extra level of hydration to the skin.

Meanwhile, body care is expected to witness robust growth in the forecast period due to the increasing skin concerns and growing awareness regarding the positive impact of optimal skin health on overall well-being.

Market Share by Gender

As per the Vietnam skin care products market analysis, women account for a substantial share of the market as they are more prone to skin issues compared to men, due to hormonal imbalances and menstrual cycles. This has led to a surge in the demand for skin care products such as serums and creams, that address specific skin issues among women.

Additionally, unisex skin care products are expected to gain sizeable growth in the coming years, due to the growing trend of gender neutrality.

Competitive Landscape

Shiseido Co Ltd., established in 1972, is a multinational cosmetic company, headquartered in Tokyo, Japan. Some of its major brands include Integrate, AUPRES, ELIXIR, IPSA, BENEFIQUE, and ANESSA, among others.

Unilever PLC is a consumer goods company, incorporated in 1929, with its headquarters in London, the United Kingdom. The company aims to reach net-zero emissions by reformulating its products and offering plant-based alternatives.

L'Oreal SA, founded in 1909 and based in Clichy, France, is a prominent cosmetic brand across the world. The company offers a wide range of skincare, makeup, hair care, and personal care products, among others.

Other Vietnam skin care products market players include Estee Lauder Companies Inc., Procter & Gamble Company, Beiersdorf AG, Revlon, Inc., Amorepacific Corporation, DECIEM Beauty Group Inc., Saigon Cosmetics Corporation, and Marico Limited, among others.

Key Highlights of the Report