Vietnam's beauty market isn't just growing—it's exploding with possibilities, as seen in its leap to a USD 2.29 billion industry in 2023, fueled by digital savviness and a skincare-obsessed culture.
Key Takeaways
- In 2023, Vietnam's beauty and personal care market reached a value of USD 2.29 billion, marking a 7.8% year-on-year growth
- The compound annual growth rate (CAGR) for Vietnam's cosmetics market from 2023 to 2028 is projected at 5.44%
- Vietnam's beauty market is expected to hit USD 2.98 billion by 2028, driven by rising disposable incomes
- Women aged 18-35 represent 52% of beauty product consumers in Vietnam
- 78% of Vietnamese women use skincare products daily in 2023
- Millennial consumers (25-40) account for 45% of beauty spending in Vietnam
- Skincare products hold 42% of total beauty sales volume in Vietnam
- Color cosmetics market in Vietnam valued at USD 380 million in 2023, growing 10%
- Hair care segment revenue reached USD 520 million in Vietnam 2023
- L'Oréal holds 15% market share in Vietnam beauty industry 2023
- Shiseido commands 12% of skincare segment share in Vietnam
- The Face Shop leads K-beauty with 8% overall share Vietnam
- 65% of Vietnamese consumers seek clean beauty ingredients by 2025
- K-beauty influence drives 40% of new product launches Vietnam 2023
- Sustainability packaging adopted by 30% brands in Vietnam beauty
Vietnam's beauty market is rapidly expanding due to rising incomes and strong online sales growth.
Brand and Retail Landscape
- L'Oréal holds 15% market share in Vietnam beauty industry 2023
- Shiseido commands 12% of skincare segment share in Vietnam
- The Face Shop leads K-beauty with 8% overall share Vietnam
- Unilever's Pond's brand has 10% in facial care Vietnam market
- Innisfree operates 150 stores in Vietnam as of 2023
- Guardian pharmacy chain sells 20% of mass beauty products Vietnam
- LG Household & Health Care's The History of Whoo premium share 5%
- Local brand Thorakao holds 7% in natural products Vietnam
- Watsons retail chain has 120 outlets beauty-focused Vietnam
- Maybelline New York leads mass color cosmetics 9% share
- Amway Vietnam beauty sales USD 100 million annually 2023
- Lotte Mart beauty aisles contribute 15% of store revenue Vietnam
- Estée Lauder group 6% premium fragrance share Vietnam
- Cocoon Vietnam brand grew 25% in vegan segment
- Shopee platform hosts 40% of online beauty sales Vietnam
- P&G's Olay skincare 8% share in mass market Vietnam
- Juno local brand leads affordable makeup 12% share
- Sephora opened 10 stores in Vietnam by 2023
- Colgate dominates oral care 45% share Vietnam beauty
- Lazada e-tail 25% beauty GMV share Vietnam 2023
- Yves Rocher natural brand 4% share growing fast Vietnam
- Big C hypermarket beauty sales up 18% YoY Vietnam
- Chanel No.5 top premium fragrance Vietnam sales
- Missha K-beauty 7% color cosmetics share Vietnam
- Aeon Mall beauty tenants generate USD 200M Vietnam
- Clean beauty brand The Body Shop 3.5% share Vietnam
- Tiki online 15% beauty market share Vietnam e-com
- Sulwhasoo premium skincare top seller Vietnam malls
Brand and Retail Landscape Interpretation
Vietnam's beauty market is a fascinatingly fragmented empire, where a French titan like L'Oréal rules from a 15% throne, yet it's besieged by a Korean wave led by The Face Shop, fortified in local pharmacy chains like Guardian, challenged by online sovereigns like Shopee, and constantly reshaped by the march of premium palaces like Sephora and the quiet, potent rebellion of homegrown brands like Thorakao.
Consumer Demographics and Behavior
- Women aged 18-35 represent 52% of beauty product consumers in Vietnam
- 78% of Vietnamese women use skincare products daily in 2023
- Millennial consumers (25-40) account for 45% of beauty spending in Vietnam
- 62% of urban Vietnamese men purchased grooming products in 2023
- Gen Z (under 25) drove 30% of makeup trial purchases via social media in Vietnam 2023
- 55% of Vietnamese consumers prefer natural/organic beauty products
- Average frequency of beauty purchases is 4.2 times per month among Vietnamese women
- 40% of beauty buyers in Vietnam are influenced by KOLs/influencers
- Rural consumers' beauty spending grew 22% YoY in 2023, representing 32% of total
- 67% of Vietnamese aged 35+ prioritize anti-aging products
- Online beauty purchases by Vietnamese men rose 35% in 2023
- 73% of beauty consumers in Vietnam read reviews before buying
- Vietnamese consumers spend average 25 minutes researching beauty products online
- 48% of Gen Z Vietnamese use beauty apps for personalization
- Loyalty to beauty brands is 60% among Vietnamese over 40
- 29% of beauty spending comes from households with children under 18
- Vietnamese beauty consumers aged 18-24 spend 15% more on makeup than average
- 81% of urban women in Vietnam use sunscreen daily
- Impulse beauty buys account for 22% of purchases among Vietnamese shoppers
- 54% of Vietnamese prefer Korean beauty brands due to trendiness
- Average basket size for beauty products in Vietnam supermarkets is USD 18
- 35% of beauty consumers in Vietnam are vegan/plant-based focused
- Elderly (55+) beauty usage grew 12% with focus on health products
- Social media drives 50% of beauty discovery for Vietnamese youth
Consumer Demographics and Behavior Interpretation
While Vietnam's beauty scene paints a picture of fastidious 18-35 year old women dutifully layering their daily sunscreen, the truth is a far more dynamic and democratic battleground where Gen Z impulse-buys contour palettes on TikTok, rural spending skyrockets, men discreetly upgrade their online carts, and literally everyone, from teenagers to grandparents, is now intently researching ingredients for twenty-five minutes before choosing a trendy Korean serum that promises to keep them forever young.
Market Size and Growth
- In 2023, Vietnam's beauty and personal care market reached a value of USD 2.29 billion, marking a 7.8% year-on-year growth
- The compound annual growth rate (CAGR) for Vietnam's cosmetics market from 2023 to 2028 is projected at 5.44%
- Vietnam's beauty market is expected to hit USD 2.98 billion by 2028, driven by rising disposable incomes
- Online sales accounted for 25% of Vietnam's beauty market revenue in 2023, up from 18% in 2020
- The skincare segment dominated Vietnam's beauty market with 42% share in 2023, valued at USD 962 million
- Vietnam beauty market grew by 12% in 2022 post-COVID recovery, reaching USD 2.1 billion
- Per capita spending on beauty products in Vietnam rose to USD 23 in 2023 from USD 19 in 2022
- Traditional trade channels held 55% of beauty sales in Vietnam in 2023
- Vietnam's natural cosmetics sub-market expanded 15% YoY in 2023 to USD 350 million
- Beauty market inflation in Vietnam averaged 6.5% in 2023 due to import costs
- Urban areas contributed 68% of Vietnam's beauty market revenue in 2023
- Vietnam beauty e-commerce grew 28% in 2023 to USD 572 million
- Fragrances segment in Vietnam grew 9.2% YoY in 2023 to USD 230 million
- Vietnam's beauty market penetration reached 85% of households in 2023
- Export value of Vietnamese beauty products hit USD 150 million in 2023
- Premium beauty segment in Vietnam surged 18% in 2023 to USD 450 million
- Mass market beauty products held 72% volume share in Vietnam 2023
- Beauty market CAGR in Hanoi was 8.1% from 2020-2023
- Ho Chi Minh City beauty sales grew 14% YoY to USD 1.2 billion in 2023
- Vietnam beauty imports totaled USD 1.8 billion in 2023, mainly from South Korea
- Local production of beauty products in Vietnam increased 11% to 450 million units in 2023
- Beauty retail outlets in Vietnam numbered 45,000 in 2023, up 10%
- Digital beauty sales via TikTok Shop reached USD 100 million in Vietnam 2023
- Vietnam beauty market share of ASEAN was 4.2% in 2023
- Inflation-adjusted growth of Vietnam beauty market was 4.5% in 2023
- 65% of Vietnam's beauty market growth in 2023 came from tier 2 cities
- Beauty product manufacturing FDI in Vietnam hit USD 500 million in 2023
- Vietnam beauty market volume reached 1.2 billion units in 2023
- ASP for beauty products in Vietnam averaged USD 12 in 2023
- Beauty market recovery post-2022 was 110% of pre-COVID levels in Vietnam by 2023
Market Size and Growth Interpretation
With nearly every Vietnamese household now partaking, the nation's beauty market is not merely growing at a brisk 7.8%—it’s strategically blossoming online, going premium, and increasingly nourishing its own skin, all while charmingly proving that economic recovery looks fabulous.
Segment Performance
- Skincare products hold 42% of total beauty sales volume in Vietnam
- Color cosmetics market in Vietnam valued at USD 380 million in 2023, growing 10%
- Hair care segment revenue reached USD 520 million in Vietnam 2023
- Fragrance sales in Vietnam grew to USD 230 million with 9% YoY increase
- Men's grooming products market size USD 150 million in 2023 Vietnam
- Nail care products saw 14% growth to USD 90 million in Vietnam 2023
- Oral care within beauty/personal care hit USD 450 million in Vietnam
- Sun care products revenue USD 120 million, 12% growth in Vietnam 2023
- Deodorants segment valued at USD 80 million, up 8% YoY Vietnam
- Premium skincare sub-segment USD 250 million in Vietnam 2023
- BB creams dominated color cosmetics with 25% share in Vietnam
- Shampoo volume sales 350 million units in Vietnam 2023
- Lipstick sales grew 11% to USD 50 million in Vietnam beauty market
- Body care products USD 300 million revenue Vietnam 2023
- Facial masks single-use sales 200 million packs in Vietnam 2023
- Perfume imports dominated 70% of fragrance market Vietnam
- Natural hair colorants grew 20% to USD 40 million Vietnam
- Eye makeup products USD 70 million in Vietnam 2023
- Bath and shower segment USD 180 million Vietnam beauty 2023
- Whitening creams hold 30% of skincare sales in Vietnam
- Razor and blades within grooming USD 25 million Vietnam
- Sheet masks accounted for 45% of mask category volume Vietnam
- Foundation makeup sales up 13% YoY USD 60 million Vietnam
- Conditioner products 180 million units sold Vietnam 2023
- Eau de parfum 55% share of fragrances Vietnam market
Segment Performance Interpretation
While Vietnam's beauty market is painting a vibrant picture, with lipstick sales flourishing and nail care exploding by 14%, it’s clear the nation’s true skincare obsession is written all over its face—and its 42% market share—proving that for Vietnamese consumers, the goal is not just to look made-up, but to have fundamentally flawless canvas.
Trends and Regulations
- 65% of Vietnamese consumers seek clean beauty ingredients by 2025
- K-beauty influence drives 40% of new product launches Vietnam 2023
- Sustainability packaging adopted by 30% brands in Vietnam beauty
- Personalization via AI apps used by 25% young consumers Vietnam
- Vegan beauty products projected 20% CAGR to 2028 Vietnam
- Vietnam gov't regulates 500+ beauty ingredients since 2022 law
- AR try-on tools boosted conversion 35% e-com beauty Vietnam
- Wellness-integrated beauty (nutricosmetics) up 22% sales 2023
- Halal-certified beauty products demand rose 18% Vietnam Muslims
- Blue light protection skincare launched by 15 brands Vietnam 2023
- E-commerce live streaming sales 30% of online beauty Vietnam
- Gender-neutral products 10% market growth Vietnam 2023
- Vietnam beauty export standards aligned EU regs 2023
- Microbiome skincare trend 25% trial rate young Vietnamese
- Zero-waste beauty packaging pilots in 20% local factories Vietnam
- Inclusivity shades expanded to 50+ tones by top brands Vietnam
- Post-COVID hygiene focus 40% hand care sales boost Vietnam
- CBD-infused beauty products regulated banned Vietnam 2023
- Social commerce via Zalo OA 15% beauty sales Vietnam
- Upcycled ingredients in 10% new launches Vietnam beauty 2023
- Beauty sleep aids (patches) sales up 28% Vietnam
- Vietnam FDA inspections up 50% on imported cosmetics 2023
- Metaverse beauty events attended 1M Vietnamese virtually 2023
- Probiotic skincare 18% growth projected 2024 Vietnam
- Eco-friendly claims verified by 70% consumers Vietnam survey
- Men's makeup trials up 40% via influencers Vietnam
- Blockchain traceability in luxury beauty 5% adoption Vietnam
Trends and Regulations Interpretation
Vietnamese beauty is undergoing a sophisticated, multi-faceted transformation, driven by a savvy consumer who demands clean, personalized, and sustainable products while riding the waves of K-beauty, embracing wellness, and navigating everything from AI and AR to stringent new regulations.
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