Vietnam’s cosmetics market is undergoing a rapid transformation, with the market size projected to grow from US$1.7 billion in 2024 to US$2.8 billion by 2033, according to IMARC Group. The industry is expected to record a compound annual growth rate (CAGR) of 5.3% during 2025-2033.
Key points in the report include:
- Strong market expansion is driven by rising beauty consciousness, urbanisation, and increasing disposable incomes.
- Natural and organic skincare products are gaining strong traction among younger, sustainability-minded consumers.
- E-commerce and social media are reshaping purchasing behaviour, boosting online sales and brand engagement.
- Korean beauty (K-beauty) influence is pushing Vietnamese consumers to seek innovative and international cosmetic brands.
- Demand for sustainable, cruelty-free, and ethically sourced beauty products is increasing sharply.
Vietnam’s cosmetics industry is becoming one of Southeast Asia’s fastest-growing beauty markets, shaped by shifting consumer values and digital transformation. Brands that successfully tap into trends like sustainability, social commerce, and personalised skincare are likely to dominate the market in the coming years, based on the IMARC report.
See also: Consumer Goods in Vietnam: Trends, Key Players, Distribution