Vietnam Cosmetics Market by Region, Competition, Forecast & Opportunities, 2020-2030F

The Vietnam Cosmetics Market was valued at USD 1.68 Billion in 2024 and is projected to reach USD 2.34 Billion by 2030, rising at a CAGR of 5.74%. This growth is driven by rising disposable incomes, expanding urban populations, and increasing consumer focus on personal care and grooming. A young, digitally active population - particularly Gen Z and millennials - continues to shape market trends, showing strong preferences for natural, organic, and cruelty-free products. The influence of global beauty standards through platforms such as TikTok and Instagram, coupled with the rise of e-commerce and beauty influencers, has fueled demand across skincare, makeup, and personal care segments. International players are scaling operations, while local brands are focusing on innovation to remain competitive in a rapidly evolving and opportunity-rich environment.

Key Market Drivers

Rising Beauty Awareness and Shifting Consumer Preferences

A major growth driver for the Vietnam cosmetics market is the increasing emphasis on personal grooming and skincare, particularly among younger consumers. Influenced by global beauty standards and digital media, Vietnamese consumers - especially women - are proactively seeking products that improve skin health and appearance. Social media platforms, including TikTok, Instagram, and YouTube, have amplified awareness by showcasing beauty routines and promoting trending cosmetic products. Demand is rising for items such as sunscreens, anti-aging creams, facial masks, and natural skincare. Consumers are becoming more discerning, favoring personalized, high-quality formulations suited to specific skin concerns. In response, both domestic and international brands are accelerating innovation and launching diverse product lines to meet evolving consumer expectations, supporting sustained market growth.

Key Market Challenges

Intense Market Competition and Brand Saturation

The Vietnam cosmetics market is becoming increasingly competitive, with a diverse mix of global leaders, regional players, and emerging local brands. Well-established international names like L'Oréal and Shiseido maintain strong brand loyalty, while Korean and Japanese brands are popular for their affordability and alignment with Asian skin care needs. Simultaneously, local companies are trying to differentiate through herbal and traditional formulations. However, the abundance of options has led to brand saturation, making it difficult for new entrants to capture market share. With low brand loyalty and a consumer base that is heavily influenced by online reviews, influencer endorsements, and promotional campaigns, maintaining visibility requires continuous investment in innovation and marketing - posing a significant challenge for businesses.

Key Market Trends

Increasing Popularity of Male Grooming Products

Vietnam is witnessing a notable rise in male participation in the cosmetics and skincare category. Changing social attitudes, urbanization, and broader exposure to media have made personal grooming more acceptable and desirable among men. As a result, demand is increasing for male-specific products such as facial cleansers, moisturizers, sunscreens, and hairstyling items. Brands are responding with targeted product lines and marketing efforts addressing common male concerns like acne, oily skin, and aging. Male grooming is being further normalized through social media, with male influencers and celebrities endorsing skincare routines. This growing acceptance signals a broader cultural shift toward inclusive beauty and expands market potential for gender-specific product innovation.

Key Players Profiled in this Vietnam Cosmetics Market Report

• 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)

Report Scope:

In this report, the Vietnam Cosmetics Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Vietnam Cosmetics Market, by Type:

• Skin Care
• Hair Care
• Bath & Shower Products
• Makeup & Color Cosmetics
• Fragrances & Deodorants
• Others

Vietnam Cosmetics Market, by Gender:

• Men
• Women

Vietnam Cosmetics Market, by Sales Channel:

• Supermarkets/Hypermarkets
• Pharmacy
• Departmental Stores
• Multi-Branded Stores
• Online
• Others

Vietnam Cosmetics Market, by Region:

• Northern Vietnam
• Southern Vietnam
• Central Vietnam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Vietnam Cosmetics Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.