Vietnam Cosmetics Market

Vietnam Cosmetics Market by Product Type (Hair Care, Skin Care, Bath and Shower Products, Makeup & Color Cosmetics Products, Fragrances & Deodorants), By Distribution Channel (Beauty Parlors/Salons, Multi Branded Retail Stores, Online Channels, Supermarkets/Hypermarkets, Exclusive Retail Store, and Others), By Gender (Men and Women) and By Region (North Vietnam, Central Vietnam, South Vietnam)

Frequently Asked Questions (FAQ):

Here we talk about the estimated forecast period, and that is 2019-2027and also about the market size and growth rate. In 2019 we found the value of the Vietnam skincare market is $853.4million and projected to reach $1,922.4 in 2027 with a CAGR of 11.7% during 2019-2027.

The Vietnam consumer market is influenced by the aging population, an increase in the middle class, and rapid urbanization. It is estimated by 2030, Vietnam”s purchasing power will grow by an average of 5% per year. With the rapid increase in the middle class in Vietnam, consumption in food, housing, education, and others are very price-sensitive and willing to buy a product with a good brand image, which causes the high-income level of consumers.

Of course, the Vietnam cosmetic market distributes into beauty parlor/salons, online channels, exclusive retail stores, and others.

It is also regulated that the applicable taxes include 10% of Vietnam value-added tax {VAT] and various tariff rates depending upon other countries.VAT calculation on imported cosmetic is based on CIF value with the addition of import duty.

Companies such as O-Hui, Nivea, Shiseido, The Face Shop, Maybelline, and others.

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