Vietnam Cosmetics Market Forecast 2030: Charts, Data Insights & Analysis


 

Future Vietnam Cosmetics Market: Key Dynamics, Size & Share Analysis

The Vietnam Cosmetics Market size was valued at around USD 2.5 billion in 2024 and is projected to reach USD 3.2 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.2% during the forecast period, i.e., 2025-30. This growth is attributed to various factors. There is a growing demand for cosmetics from the rising middle-class population in the region which has a considerable share of the personal care market. There are around 97 million middle-class persons in Vietnam in 2023 which stands to be 13% of the total population and is the biggest consumer segment for cosmetics and is projected to reach 26% in 2026.

Top Market Challenges Impacting the Vietnam Cosmetics Market Growth

High Tariff Rate on Cosmetics Impending Market Growth – High tariff rates on cosmetics pose a significant challenge to the growth of the Vietnam Cosmetics Market with charges like VAT, Preferential Import Duty, Normal Import Duty, and others. In Vietnam, imported cosmetics are subject to tariffs ranging from 10%-33% in 2024, depending upon the product category. These high duties increase the cost for the consumer and reduce the variety to choose from in the market. Whereas beauty and skincare products are subjected to tariffs from 10% to 27%, certain items, such as anti-acne preparations and face creams, are subjected to tariffs from 10% to 15% in 2024. Such tariffs prejudiced the competition of foreign brands with domestic products, thus potentially impeding innovation and limiting consumer choice. The high costs discourage foreign investments in the Vietnamese cosmetics industry, thus threatening its growth.

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Understanding the Core Segments in the Vietnam Cosmetics Market

Vietnam Cosmetics Market Size, Share & Industry Trends Analysis- By Category (Conventional, Organic), By Product Type (Skin and Sun Care Products, Hair Care Products, Deodorants and Fragrances, Makeup and Color Cosmetics, Others), By Gender (Men, Women, Unisex), By Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Pharmacies, Online Stores) and Others

Geographical Analysis of the Vietnam Cosmetics Market

  • Northern
  • Southern
  • Central

Who Dominates the Vietnam Cosmetics Market Insights on Key Industry Players?

Companies are strengthening their presence in the Vietnam Cosmetics market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.

  • 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
  • Others

Tap into future trends and opportunities shaping the Vietnam Cosmetics Download the complete report: - https://www.marknteladvisors.com/research-library/vietnam-cosmetics-market.html

Why Choose This MarkNtel Advisors Research Report

  1. Comprehensive Insights – Offers a 360° view of the market, combining qualitative and quantitative analysis for a deep understanding of trends, drivers, challenges, and opportunities.
  2. Reliable Data Sources – Data is gathered through verified primary and secondary sources, ensuring accuracy and credibility.
  3. Actionable Forecasts – Advanced predictive modeling and time-series analysis provide practical insights to guide strategic decisions and business planning.
  4. Expert Analysis – Insights from industry experts help interpret complex market dynamics, delivering clarity beyond the numbers.
  5. Customized & Strategic Reporting – The report includes detailed charts, graphs, and strategic recommendations tailored to support business growth and investment decisions.
  6. Trusted Methodology – Built on rigorous research principles, including precise sampling, data validation, and forecasting techniques, reflecting the trust businesses place in MarkNtel Advisors.

"This report equips decision-makers with actionable intelligence, enabling them to navigate market complexities with confidence and foresight."

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