{"id":18482,"date":"2024-12-03T11:36:51","date_gmt":"2024-12-03T04:36:51","guid":{"rendered":"https:\/\/b-company.jp\/?p=18482"},"modified":"2025-04-04T11:40:21","modified_gmt":"2025-04-04T04:40:21","slug":"beauty-and-personal-care-market-in-vietnam-and-the-participation-of-japanese-brands","status":"publish","type":"post","link":"https:\/\/b-company.jp\/ja\/beauty-and-personal-care-market-in-vietnam-and-the-participation-of-japanese-brands\/","title":{"rendered":"\u30d9\u30c8\u30ca\u30e0\u306e\u7f8e\u5bb9\u30fb\u30d1\u30fc\u30bd\u30ca\u30eb\u30b1\u30a2\u5e02\u5834\u3078\u306e\u5546\u6a5f"},"content":{"rendered":"

Current Situation of the Vietnamese Beauty<\/strong> and Personal Care Market<\/strong><\/h3>\n

Vietnam’s beauty and personal care market[1]<\/a> has witnessed remarkable growth in recent years. As of 2024, it is projected to be valued at approximately 2.67 billion USD, with an expected compound annual growth rate (CAGR) of around 2.7% from 2024 to 2029. The market includes a diverse range of products, including skincare, makeup, fragrances, personal care and beauty tech. The largest segment within the market is personal care, which is anticipated to reach a market volume of 1.17 billion USD in 2024. Skincare products come in second, possibly largely driven by the increasing awareness of skincare among Vietnamese consumers, particularly within younger demographics.<\/p>\n

Revenue<\/b> of the beauty and personal care market in Vietnam from 2018 to 2029<\/b><\/p>\n

Unit: billion USD
\n\"Revenue<\/p>\n

Source: Statista Market Insights<\/a><\/p>\n

The significant growth of the beauty and personal care sector is also evident when looking at the online channels. According to statistics retrieved from five major e-commerce (EC) platforms in Vietnam \u2013 Shopee, Lazada, Tiki, TikTok Shop, and Sendo \u2013 the industry’s revenue surged by 47.6% in 2022 compared to 2021. In 2023, this growth accelerated, reaching an impressive 52.2% and totaling 37.7 trillion VND (~1.5 billion USD). Additionally, the volume of products sold in this category has also seen a significant increase over the years, hitting 341 million products in 2023. It is recorded that there are currently about 137,000 shops selling beauty and personal care products on 5 EC platforms.<\/p>\n

Top 5 EC platforms<\/p>\n\n\n\n
Number of products sold on 5 EC platforms 2021 – 2023<\/b><\/p>\n

unit: million items<\/td>\n

Revenue on 5 EC platforms
\n2021 – 2023 <\/b>unit: trillion VND<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\"Number\"Revenue<\/p>\n

Source: Metric.vn<\/a><\/p>\n

Key Players and The Participation of Japanese Brands<\/strong><\/h3>\n

While local producers still hold a modest share, foreign brands make up about 90% of the beauty and personal care market in Vietnam. Particularly, Korean brands have the highest share at 30%, followed by brands from Europe (23%), Japan (17%), Thailand (13%), and the U.S. (10%).<\/p>\n

Beauty and Personal Care Brands Market Share in Vietnam 2019<\/b><\/p>\n

\"Beauty<\/p>\n

Source: International Trade Administration<\/a><\/p>\n

Foreign players\u2019 dominance in the market is mainly due to the Vietnamese\u2019s preference for imported cosmetics\/beauty products. In 2022, Vietnam imported 600 million USD in beauty products, becoming the 24th largest importer of beauty products worldwide[2]<\/a>. Vietnamese consumers perceive foreign brands as having established reputations, higher quality and a wider variety of products that can cater to individual needs. Especially, South Korea is renowned for its skincare and makeup regime. Korean idols and influencers add fuel to self-care trends in Vietnam through social media, campaigns, advertisements, and beauty blogs[3]<\/a>.<\/p>\n

In terms of Japanese brands, they have established a robust presence in Vietnam, offering a diverse array of products that include skincare, makeup, hair care, and body care. These brands span a wide range of price segments, from premium labels like SK-II to more affordable options like Senka, effectively catering to various customer demographics. In addition to exporting products from Japan, several Japanese cosmetics corporations, such as Kao, Rohto, and Shiseido, have set up manufacturing operations in Vietnam. This local production enables them to better serve the market and enhance their distribution capabilities, further solidifying their position in the competitive landscape. Japanese retail chains have actively entered the Vietnamese market, with Matsumoto Kiyoshi opening its first store in 2020. This marked its entry into the beauty and personal care sector, where it now competes with other retailers such as Guardian, Watsons, and Hasaki. Since then, the brand has expanded to a total of 10 outlets in major shopping malls across Ho Chi Minh City and Hanoi.<\/p>\n

Notable Market Trends<\/strong><\/h3>\n

The rising popularity of n<\/em>atural and organic products and the involvement of Vietnamese local brands<\/em><\/h4>\n

Vietnam’s beauty and personal care market is witnessing a notable increase in demand for natural products as consumers increasingly favor organic and eco-friendly options that are both safe for their skin and sustainable. This trend is likely influenced by rising skin issues such as allergies, sensitivities, and premature aging, leading many to believe that natural products are a superior alternative to traditional ones. Moreover, consumers, particularly Millennials and Generation Z, are now placing significant emphasis on the environment; they no longer prioritize beauty products with ‘miraculous’ claims but instead set new standards for transparency, authenticity, environmental responsibility, and the ethical values of brands. The growth of the middle class in Vietnam is also contributing to the rising demand for natural and organic beauty care solutions[4]<\/a>. According to data from Statista, the natural segment acquires about 9 \u2013 10% of the whole beauty and personal care market and has experienced a CAGR of approximately 2.5% from 2018 to 2023, with revenue reaching around 239 million USD in 2023.<\/p>\n

Revenue<\/b> of natural beauty and personal care market in Vietnam from 2018 – 2029<\/b><\/p>\n

(Unit: million USD)
\n\"Revenue<\/p>\n

Source: Statista Market Insights[5]<\/u><\/a><\/p>\n

While foreign brands bring established reputations and innovative approaches to grasp this trend, local brands are also thriving because of their deep understanding of the market and consumer needs, coupled with Vietnam’s natural resource advantages. Vietnamese cosmetics companies are reported to increasingly investing in modern production lines and sourcing high-quality raw materials[6]<\/a>. Their insights into the needs of Vietnamese consumers allow them to create products tailored to local preferences, offering safe, natural, and effective solutions. Many local brands specialize in offering products formulated with locally sourced plant-origin ingredients, for example:<\/p>\n