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The market is quite potential, fast-growing and less occupied by domestic brands
The Vietnam cosmetic market is ranked 6th in the ASEAN region in terms of revenue according to Statista data. This year its revenue is estimated to amount to 341 mils. USD in the skincare segment and 102 mils. USD in the make-up segment. In the next 5 years, 2019-2023, these 2 segments are expected to grow annually by 2.9% and 6.1% respectively; predicting make-up segment to become the fastest growing in the region.
JETRO published ‘Cosmetics and Personal Care product in Vietnam (Jan 2017)’ report that B&Company Vietnam was assigned by JETRO Hanoi Office to conduct this survey on their website.
(Only in Japanese language)