In the context of Vietnamese consumers increasingly paying attention to health and the environment, the hair care market is witnessing a strong preference for natural products, from traditional folk ingredients to modern technology in cosmetic formulation. This article analyzes the current Vietnamese hair care market and the potential for cooperation with foreign enterprises.

Vietnam Hair Care Market: Strong Growth

StrategyHelix’s report indicates that the hair care products market in Vietnam is currently worth around USD 979 million in 2023 and is forecast to reach USD 1.46 billion in 2029. This reflects the strong growth of the market with an annual growth rate of 6.9% during the period 2024-2029[1].

The strong growth of the hair care market in Vietnam in recent years has been mainly driven by three main factors. Firstly, income growth and the need for beauty have created a big driving force for the market. According to a McKinsey report, Vietnamese consumers are now willing to spend more on personal care and household products, while spending less on eating out[2]. This not only reflects changes in consumer habits but also affirms the increasing level of interest in health and beauty. Second, changes in consumer awareness have changed consumption trends. Vietnamese people are now more aware of the importance of protecting their health, and hair care products, which are directly related to the health of the scalp and hair, are increasingly preferred. In particular, natural products, that do not contain harmful chemicals, have become more popular than ever. Finally, the strong development of e-commerce has created great opportunities for hair care brands to reach consumers without having to invest too much in traditional distribution channels. Online platforms such as Shopee, Lazada, or Tiki have made it easy for consumers to access hair care products, opening up great opportunities for domestic and foreign brands to enter the Vietnamese market.

Many women prefer to choose herbal hair care products

Source: Baoquangngai.vn

Natural Products Trend Is On The Rise

One of the notable trends in the hair care market in Vietnam is the increasing demand for products of natural origin. These products are not only loved for their safety but also for their effectiveness in hair care and damaged hair restoration.

Hair care products today are mainly extracted from natural ingredients such as coconut oil, soapberry, aloe vera, and rosemary, which help nourish hair, clean, reduce breakage, moisturize, and stimulate hair growth. In addition, some products also add essences from other natural ingredients such as turmeric, coffee, or rose, which help enhance hair care effectiveness, restore damaged hair, and prevent aging. These products not only include shampoo, and conditioner but also hair cream, and hair serum, providing a comprehensive solution for consumers’ hair care needs.

Competition between domestic and international brands

The natural hair care product market in Vietnam is witnessing competition between domestic and international brands. International brands such as AROMATICA from Korea have made a strong impression thanks to products that do not contain parabens, sulfates, or silicones, in line with modern consumer trends, aiming at user health and environmental protection[3]. Meanwhile, domestic brands such as Thorakao, Cocoon, and Co Mem have also grown strongly thanks to exploiting local ingredients and building unique brand stories[4]. These brands not only focus on product quality but also invest heavily in telling stories about the origin of ingredients, such as Cocoon with ingredients from regions of Vietnam such as Dak Lak coffee, Cao Bang roses, or Ben Tre coconut oil.