Vietnam Cosmetics Market

Vietnam Cosmetics Industry Overview:

Vietnam cosmetics market size reached USD 1.7 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 2.8 Billion by 2033, exhibiting a growth rate (CAGR) of 5.3% during 2025-2033. The male grooming market is expanding, driven by factors such as higher income levels within the middle class, the rising popularity of Korean beauty trends, and a growing emphasis on achieving healthy and glowing skin. As men increasingly prioritize self-care, there is a noticeable shift toward investing in grooming products. The dominant categories in the market include skin and sun care, hair care, deodorants, and fragrances, all of which contribute significantly to its growth. Furthermore, there is a rising demand for organic and natural cosmetic in Vietnam products, as consumers become more mindful of the ingredients in their grooming routines. 

Cosmetics are products used to enhance the appearance of a person. They are typically applied to the skin, hair, or nails. They include items like makeup, skincare products, fragrances, and hair care products, designed to beautify, cleanse, protect, and improve the overall grooming. They are generally formulated to be pH-balanced to suit the natural acidity levels of the skin. They contain active ingredients like retinol or hyaluronic acid for added skin benefits. Besides this, some cosmetics have ingredients that can soothe skin conditions like eczema or rosacea. They are used by makeup artists in the fashion, film, and television industries across Vietnam. Additionally, the Vietnam skincare market has experienced substantial growth, as more consumers focus on achieving clear and radiant skin, driving demand for products that address specific skincare needs.

Vietnam Cosmetics Market Trends:

Rising Popularity of K-beauty and Natural Products in Vietnam

The inflating income levels of the middle-class population in Vietnam are allowing them to invest in quality beauty products, including skincare, makeup, and hair care. Additionally, people are increasingly preferring brands that prioritize eco-friendly practices, cruelty-free testing, and ethical sourcing of ingredients. K-beauty, renowned for its innovative formulations and emphasis on healthy, radiant skin, has become a significant influence on cosmetic Vietnam trends. South Korea remains Vietnam’s largest cosmetics import partner, with the value of imported South Korean cosmetics nearing USD 330 Million in 2022. A rising demand for natural and organic skincare products complements this growing interest in K-beauty. Along with this, the escalating demand for cosmetics that offer health benefits in addition to aesthetic enhancement is strengthening the growth of the market. Furthermore, the rise of social media platforms is another major factor positively influencing the market in the country. Moreover, the rising influence of Korean beauty (K-beauty) trends, characterized by flawless skin and minimalistic makeup, is bolstering the market growth. Besides this, the growing emphasis on achieving healthy, radiant skin is catalyzing the demand for skincare products, such as serums, moisturizers, and sunscreens. This is offering lucrative growth opportunities to businesses for developing and marketing skincare lines that cater to specific skin concerns, including anti-aging, hydration, and ultraviolet (UV) protection. Furthermore, the development of innovative products and the availability of customization options are creating a positive market outlook. Cosmetic companies in the country are introducing products tailored to the specific needs and preferences of consumers. This includes formulations suitable for humid weather conditions that cater to the local skin types and tones. Moreover, the influx of international cosmetics brands and their extensive marketing efforts are augmenting the market growth. Besides this, there is a growing acceptance of male grooming and beauty products. Furthermore, the increasing reliance of individuals on online shopping channels for exciting deals and discounts and home delivery services is supporting the market growth in the country. The cosmetic market share in Vietnam continues to grow, driven by innovation, increased customization, and a shift toward healthier beauty products. 

Growth of Male Grooming in Vietnam

According to the Vietnam cosmetics market report 2024, the expansion of the market is strongly influenced by these evolving trends. The male grooming market in Vietnam is experiencing rapid expansion, with a year-over-year growth rate of 18%. This growth is primarily driven by younger, urban men who are increasingly adopting skincare and grooming habits. With rising disposable incomes, particularly in cities such as Ho Chi Minh City and Hanoi, men are spending more on grooming products than ever before. As societal views on masculinity evolve, there is a greater focus on personal well-being and appearance, encouraging more men to invest in grooming routines. The demand for products tailored to the unique needs of Vietnamese skin and hair types has also contributed to the market's growth. Additionally, the rise of e-commerce platforms has made these products more accessible, allowing consumers to purchase grooming items from the comfort of their homes. Online shopping has become a significant driving force in this sector, especially among younger consumers who value convenience. With the continued rise in self-care awareness and the increasing availability of grooming products, Vietnam's male grooming market is expected to continue its robust growth in the years to come.

Gen Z's Impact on Premium Beauty Sales

Generation Z is significantly influencing the growth of Vietnam cosmetic market with a 61% increase, with the help of AR tools. Accounting for a substantial share of online beauty product purchases, this demographic is reshaping the industry with its preferences and behaviors. Gen Z consumers are particularly drawn to cosmetics that are ethically produced, with a preference for cruelty-free products. This generation’s focus on sustainability and ethical standards has pushed brands to adopt cleaner, more transparent ingredients. Additionally, the use of augmented reality (AR) tools in e-commerce platforms, such as Shopee and Lazada, has enhanced the online shopping experience. These tools enable customers to try makeup virtually, thereby reducing the likelihood of returns and increasing consumer confidence in their purchases. Live commerce, especially on platforms like TikTok, has also contributed to the growth of premium beauty sales, with interactive livestreams attracting large audiences. Furthermore, the adoption of Buy Now, Pay Later (BNPL) services has surged, allowing Gen Z to purchase high-end cosmetics with greater flexibility. This combination of tech-savvy, ethical spending, and digital engagement has positioned Gen Z as a key force in driving premium cosmetics sales in Vietnam.

E-Commerce Boosts Beauty Purchases

Cosmetic brand in Vietnam has experienced substantial growth, with the industry’s revenue reaching 37.7 Trillion VND in 2023, representing a 50% increase from the previous year. This growth is largely attributed to the rise of e-commerce platforms such as Shopee, Lazada, and TikTok Shop, which have become key destinations for beauty product purchases. These online platforms offer consumers a wide range of products, competitive pricing, and the convenience of shopping from home, making them highly popular among Vietnamese beauty shoppers. The increasing smartphone penetration, with over 75% of the population using smartphones, has further boosted mobile commerce. It is estimated that 89% of premium beauty buyers in Vietnam make their purchases via mobile devices. The ease of online shopping, coupled with attractive discounts and promotions, is driving the shift from traditional retail to digital channels. Furthermore, the growth of social commerce and influencer marketing on platforms such as Instagram and TikTok has enabled brands to reach a broader audience, particularly younger consumers. With e-commerce continuing to grow, it is expected to dominate the retail landscape in Vietnam’s beauty industry for years to come.

Vietnam Cosmetics Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on product type, category, gender and distribution channel.

Product Type Insights:

• Skin and Sun Care Products
• Hair Care Products
• Deodorants and Fragrances
• Makeup and Color Cosmetics
• Others

The report has provided a detailed breakup and analysis of the market based on the product type. This includes skin and sun care products, hair care products, deodorants and fragrances, makeup and color cosmetics, and others.

Category Insights:

• Conventional
• Organic

A detailed breakup and analysis of the market based on the category have also been provided in the report. This includes conventional and organic.

Gender Insights:

• Men
• Women
• Unisex

The report has provided a detailed breakup and analysis of the market based on the gender. This includes men, women, and unisex.

Distribution Channel Insights:

• Supermarkets and Hypermarkets
• Specialty Stores
• Pharmacies
• Online Stores
• Others

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes supermarkets and hypermarkets, specialty stores, pharmacies, online stores, and others.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Cosmetics Market Recent News:

• May 2025: Amway Vietnam launched the Artistry Labs Illuminating System, targeting women over 40 with solutions for hyperpigmentation, uneven skin tone, and signs of aging. This launch marked a significant step in the company's focus on anti-aging skincare, boosting market innovation and growth in Vietnam's cosmetics industry.
• April 2025: Sol by Melia Phu Quoc partnered with Cocoon Vietnam to launch the "Endless Summer" campaign, offering vegan skincare products. This collaboration highlighted sustainable beauty, promoting eco-friendly and cruelty-free skincare, and positively impacted the market by aligning with growing consumer demand for natural and ethical products.
• March 2025: The Vietnamese government introduced the Circular Beauty Fund to promote sustainable packaging in the cosmetics industry. This initiative encourages companies to adopt eco-friendly packaging solutions, aligning with the country's goals for a circular economy. It drives innovation in sustainable product design, enhancing market growth and attracting foreign investments.
• September 2024: Meiyume expanded into Vietnam's cosmetics market, offering tailored solutions for local beauty brands. This move, driven by the country's rapid economic growth and rising beauty sector, provided innovative product development, boosting competition and fostering advancements in manufacturing and packaging within Vietnam's beauty industry.
• October 2023: SK-II entered the Vietnamese market, marking its first expansion in a decade. The brand aimed to cater to the growing demand for luxury beauty, promoting its PITERA product innovations. This move reinforced Vietnam’s position as a key market for global luxury skincare brands.

Vietnam Cosmetics Market Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam cosmetics market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam cosmetics market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam cosmetics industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.