Vietnam’s online premium cosmetics market is set to surge from US$265.15 million in 2024 to over US$643.86 million by 2033, driven by Gen Z consumers, tech innovation, and eco-conscious spending, according to a report from Astute Analytica
Key points in the report include:
- The market is expected to grow at a CAGR of 11.02%, reaching US$643.86 million by 2033.
- Skincare dominates the market with 67% share, led by anti-aging and climate-adapted innovations.
- Gen Z accounts for 61% of buyers; 74% use AR and AI features before purchasing.
- Counterfeits plague 26% of online purchases.
- In online sales, Shopee leads with 51% market share.
Vietnam is emerging as one of Asia’s most dynamic beauty tech markets, where consumer values, climate-specific R&D, and regional infrastructure challenges shape both innovation and equity. For global brands and investors, capturing Gen Z loyalty, mastering hyperlocal campaigns, and building trust in rural logistics may define their long-term success.
See also: Vietnam Cosmetics Industry 2025: Growth, Imports & Key Players