According to the Organic Market Research report, “Vietnam Skin Care Market – Industry Share, Size, Trends, Competition Forecast & Opportunities, 2032”, the Vietnam Skin Care Market stood at USD 961.95 million in 2023 and is projected to estimate strong growth in the forecast period with a CAGR of 11.8% through 2032. The Vietnam skin care market reflects the increasing demand of consumers for beauty and wellness products. It offers a variety of products that aim at achieving and preserving good skin such as facial care products, body care items, sun protection lotions and anti-aging creams. Vietnam Skin Care market growth driven by elevation in consumer’s consciousness about personal hygiene and beauty care, coupled with global standards of beauty burden. Importantly, this demand for luxury skin care lines has also been fueled by increasing income among the expanding Vietnamese middle class that can spend on such purchases.

A variety of foreign cosmetic brands have made their way into the Vietnamese market, attempting to endorse products through collaboration with local influencers in order to boost the progress of skin care industry. For instance, L'Oréal has launched the ‘Green Beauty’ campaign in Vietnam since June 2023 that advocates for sustainable skincare options. In this campaign, it strove to keep the environmental impacts at bay while improving skin care theories. Additionally, Japan’s Shiseido joined forces with Vietnamese online shopping platforms back in 2022 as one of its strategies to leverage on the fast-growing e-commerce sector within that country. As a result, such partnerships and promotion techniques have enhanced people’s desire for organic and nature-friendly cosmetics which are trending in Vietnam currently among others. April 2024, as per Shopee Korea, K-beauty orders in Vietnam have risen by 5.2 times whereas transaction amounts have increased by 4.9 times. The company supports Korean sellers operating in South East Asia and Taiwan markets.

The Vietnam Skin Care market size has seen a significant rise due to focus on anti-aging products and sun protection is increasing. The consumers are facing a big challenge regarding sun exposure due to Vietnam’s tropical climate, which has led to high demand for sunscreen and UV protection items. Major players in the market like L’Oreal, Unilever and Beiersdorf (Nivea) have come up with creative innovations that suit the unique skin care requirements of people from Vietnam. Nivea has for instance launched a special range of sunscreen that responds to the common desire among local buyers for lightweight, non-greasy formulas suitable in rainy weather. This localized strategy has consistently increased the adoption rate of skincare products in this part of the world.

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Also, the Vietnam Skin Care market share is expanding due to the rising influence of K-beauty (Korean beauty) trends. Vietnamese consumers increasingly attracted to Korean skin care products famed for their innovative formulations and multi-step routines. Brands like Innisfree and Laneige have become popular in Vietnam for their natural ingredient’s concentration and efficient skin care solutions. The K-beauty trend along with the inclination towards personalized skin care is anticipated to keep propelling Vietnam’s skincare market growth.

The “Vietnam Green Beauty” initiative, supported by a number of local brands, is aimed at promoting eco-friendly skin care production and consumption. This initiative facilitates the development of organic as well as natural skincare lines with global sustainability standards for local manufacturers. Apart from collaborating with overseas cosmetic companies, local farmers and environmental activists are also involved in ensuring that all the ingredients used in these beauty products are sustainably sourced. In Vietnam, this trend towards using more natural and environmentally friendly beauty products has been warmly embraced by consuming public especially those who are worried about the effect of chemical cosmetics on their skin or on the environment in general.

Based on the Vietnam Skin Care market forecast, a huge increase in the number of people wanting natural, organic and cruelty-free goods is anticipated. Companies are making hay while the sun shines on sustainable product development, with emphasis on eco-friendly packaging and ethical sourcing of ingredients. This change is not just in tune with global beauty trends, but also fits into rising awareness among Vietnamese consumers about how their choices affect the environment. Moreover, it is expected that e-commerce growth will play an important role in this market’s expansion as online platforms provide ease of access to innumerable skin care products. According to Vietnam Skin Care market analysis, the need for advanced skincare products in the country is fueled by the rising demand for premium skin care solutions among consumers and the increasing influence of global beauty trends. Local skin concerns like pigmentation, acne, and sun damage have informed manufacturers’ production of local products while managing the growing interest in natural and sustainable ingredients. In addition, it is anticipated that factors such as rising disposable incomes, urbanization and increasing penetration of global brands into Vietnam will all help in expanding this continuum of skin care market from this point.

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