Vietnam Skin Care Market (2023-2029) | Share, Analysis, Size, Trends, Growth, COVID-19 IMPACT, Value, Outlook, Industry, Forecast, Revenue & Companies

Topics Covered in the Vietnam Skin Care Market

Vietnam Skin Care Market report thoroughly covers the market by product types and by distribution channel. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Vietnam Skin Care Market Synopsis

Vietnam Skin Care Market has emerged as a dynamic sector within the broader beauty and personal care industry. The market caters to a diverse consumer base with varying skincare needs, ranging from anti-aging and SPFs to nourishing and acne treatment. The consumers of Vietnam are increasingly adopting skincare routines and placing a higher emphasis on self-care, contributing to the Vietnam Skin Care Market Growth.

According to 6Wresearch, the Vietnam Skin Care Market is expected to grow by 3.76% resulting in a market volume of US$920.80m during the forecast period of 2023-2029. The market is propelling primarily due to the growing beauty-conscious population in Vietnam. Consumers are increasingly aware of the importance of skincare routines and are willing to invest in skincare products that enhance their appearance and promote healthy skin. Additionally, rising disposable income enables individuals to purchase premium skincare products, contributing to market expansion. Urbanization has led to increased exposure to environmental pollutants, which has resulted in greater skincare needs. Consumers are seeking products that protect against pollution and UV radiation, driving demand for specialized skincare products. However, price sensitivity remains a challenge in the Vietnam skincare market. Moreover, the presence of counterfeit skincare products in the market poses a challenge to consumers' safety and brand reputation. There is a growing preference for natural and organic skincare products. Consumers are seeking ingredients perceived as safe and gentle on the skin, leading to a surge in products containing natural extracts and minimal chemicals. Collaborations with influencers, dermatologists, and beauty experts support skincare brands to build trust and credibility in the market. The Vietnam skincare market size can vary over time due to consumer preferences and economic conditions.

Government policies and schemes introduced in the Vietnam Skin Care Market

The government has set regulations to ensure the safety and quality of cosmetics, including skin care products. These regulations are often rationalized to align with international standards. The government has stimulated the export of Vietnam cosmetics, including skin care products, to international markets. This is part of a broader strategy to boost the country's export industry. moreover, the government has implemented policies to protect consumers from counterfeit skin care products. Vietnam has offered incentives to attract foreign investment in the beauty and skincare industry, which has led to increased market competition.

The impact of COVID-19 on the Vietnam Skin Care Market

The COVID-19 pandemic has had both positive and negative effects on the Vietnam skin care industry. Due to lockdowns and social distancing measures, online sales of skin care products witnessed significant growth. Many consumers turned to e-commerce platforms to purchase their skincare items. The pandemic disrupted global supply chains, affecting the availability of certain skincare products and ingredients. Physical stores were impacted by lockdowns. This led to changes in distribution strategies and a greater emphasis on e-commerce.

Leading players in the Vietnam Skin Care Market

The competitive landscape has evolved with the presence of some leading players in the Vietnam skin care market including:

• Unilever
• Johnson & Johnson
• L'Oréal
• Shiseido
• Local Brands

Market Analysis by Product Types

According to Nitesh Kumar, Research Manager, 6Wresearch, the Face creams segment is one of the fastest-growing and expected to dominate the Vietnam skincare market share. The growth is mainly driven by increased awareness of skincare routines, a desire for youthful and healthy skin, and exposure to environmental factors.

Market Analysis by Distribution Channel

Based on Distribution channels, Online distribution channels are growing rapidly, driven by the convenience of online shopping, increasing penetration of the internet, and rising smartphone usage. While offline channels remain significant as they provide the in-person shopping experience.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Vietnam Skin Care Market Outlook
• Market Size of Vietnam Skin Care Market, 2022
• Forecast of Vietnam Skin Care Market, 2029
• Historical Data and Forecast of Vietnam Skin Care Revenues & Volume for the Period 2019 - 2029
• Vietnam Skin Care Market Trend Evolution
• Vietnam Skin Care Market Drivers and Challenges
• Vietnam Skin Care Price Trends
• Vietnam Skin Care Porter's Five Forces
• Vietnam Skin Care Industry Life Cycle
• Historical Data and Forecast of Vietnam Skin Care Market Revenues & Volume By Product Types for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Skin Care Market Revenues & Volume By Face Creams for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Skin Care Market Revenues & Volume By Body Lotions for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Skin Care Market Revenues & Volume By Distribution Channel for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Skin Care Market Revenues & Volume By Online for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Skin Care Market Revenues & Volume By Offline for the Period 2019 - 2029
• Vietnam Skin Care Import Export Trade Statistics
• Market Opportunity Assessment By Product Types
• Market Opportunity Assessment By Distribution Channel
• Vietnam Skin Care Top Companies Market Share
• Vietnam Skin Care Competitive Benchmarking By Technical and Operational Parameters
• Vietnam Skin Care Company Profiles
• Vietnam Skin Care Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Types

• Face Creams
• Body Lotions

By Distribution Channel

• Online
• Offline

Frequently Asked Questions About the Market Study (FAQs):