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VIETNAM K-BEAUTY PRODUCTS MARKET FORECAST 2023-2030

SCOPE OF THE REPORT

Vietnam K-beauty Products Market by Gender (Male, Female) Market by Product Type (Skincare (Cleanser, Toner, Moisturizer, Sheet Mask & Spot Patch, Lip Care, Eye Care, Sun Protection), Body Care (Hand Care, Foot Care, Hair Care), Makeup (Eye Makeup, Lip Makeup, Face Makeup)) Market by Distribution Channel (Specialty/single-brand Store, Supermarket/hypermarket, E-commerce)

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MARKET OVERVIEW

The Vietnam K-beauty products market is forecasted to record a CAGR of 9.41% during the projection years of 2023-2030, capturing a revenue share of $xx million by 2030.

Vietnam is a prospective market for cosmetics businesses. The country’s imports of cosmetics more than doubled from around $355 million in 2010 to over $790 million in 2018, reflecting a significant consumer demand. Notably, in recent years, the country’s import value has been substantially higher than the export value.

Vietnam has continued to be one of the largest markets for specialized stores in the health & beauty industries. Moreover, over recent years, purchasing cosmetics online has grown in popularity. After consumer goods and electronics, beauty products were the third most popular online purchases in Southeast Asia. Customers in the nation also favored Shopee, Lazada, and Tiki for purchasing clothing and cosmetics. In addition, K-beauty and multi-step scrubbing are popular trends in the Vietnamese beauty market as they target common skin problems like acne, enlarged pores, and dark circles under the eyes.

An expanding middle class and evolving purchasing habits in Vietnam among young consumers are contributing to higher consumer expenditures. In general, female consumers spent more money on cosmetics than skincare, with most costs falling between 300,000 and 500,000 VND. The Vietnamese beauty business leaves a lot of potential for the home market due to the exclusivity of international brands. However, successful market penetration is a substantial challenge for domestic businesses, while multinational brands work to stay competitive. Furthermore, flexibility will also be needed to respond to shifting consumer trends and technology advancements.

Vietnam K-Beauty Products Market

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The Vietnam K-beauty products market is segmented into gender, product type, and distribution channel. The gender segment includes male and female. The male beauty market is expanding. Since men are more aware of the connection between skincare, self-grooming and wellness, more males appreciate skin care. Men’s care has also gained attention as more products created exclusively for men and brands partnering with male celebrities have grown.

In recent years, there has also been a rise in the inclusion of male and men’s beauty as well as genderless cosmetics. Gender-neutral cosmetics are becoming highly popular as a result of the rise in inclusivity. Additionally, BB creams, face sheet masks, serums, moisturizers, and other skincare products are available in a wide variety of K-beauty men’s products. In terms of sales value, this factor further boosts the segment’s growth.

Some of the top firms operating in the Vietnam K-beauty products market are LG H&H Co Ltd, Clio, etc.

Clio, headquartered in South Korea, is a leading manufacturer and distributor of premium quality Korean beauty and personal care products. The company’s line of products contains natural skin care items, hairbrushes, cosmetic brushes, sponges, and eyelashes. The company operates in over 100 countries.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2030
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Gender, Product Type, and Distribution Channel
Countries AnalyzedVietnam
Companies AnalyzedAble C&C Co Ltd, AmorePacific Corporation, BNH Cosmetics, Clio, CosRX Inc, LG H&H Co Ltd

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. COUNTRY SNAPSHOT
    3. COUNTRY ANALYSIS
    4. SCOPE OF STUDY
    5. CRISIS SCENARIO ANALYSIS
      1. IMPACT OF COVID-19 ON K-BEAUTY PRODUCTS MARKET
    6. MAJOR MARKET FINDINGS
      1. INCLUSIVE RANGE FOR PEOPLE OF COLOR
      2. INNOVATIVE PACKAGING – A TROPE IN K-BEAUTY PRODUCTS MARKET
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. SURGE IN DEMAND FOR NATURAL AND ORGANIC PERSONAL CARE & COSMETICS
      2. K-BEAUTY PRODUCTS REVOLUTIONIZED THROUGH PRODUCT INNOVATION AND EXTENSIVE R&D
      3. PROMINENCE OF MALE SKINCARE CATEGORY
    2. KEY RESTRAINTS
      1. RISE IN DUPED K-BEAUTY PRODUCTS
      2. STRONG COMPETITION FROM ESTABLISHED INTERNATIONAL BRANDS
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
    2. PEST ANALYSIS
    3. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    4. GROWTH PROSPECT MAPPING
      1. GROWTH PROSPECT MAPPING FOR VIETNAM
    5. VALUE CHAIN ANALYSIS
    6. KEY BUYING CRITERIA
      1. INGREDIENTS
      2. PACKAGING
      3. SKIN TYPE
      4. COST
  5. MARKET BY GENDER
    1. MALE
    2. FEMALE
  6. MARKET BY PRODUCT TYPE
    1. SKINCARE
      1. CLEANSER
      2. TONER
      3. MOISTURIZER
      4. SHEET MASK & SPOT PATCH
      5. LIP CARE
      6. EYE CARE
      7. SUN PROTECTION
    2. BODY CARE
      1. HAND CARE
      2. FOOT CARE
      3. HAIR CARE
    3. MAKEUP
      1. EYE MAKEUP
      2. LIP MAKEUP
      3. FACE MAKEUP
  7. MARKET BY DISTRIBUTION CHANNEL
    1. SPECIALTY/SINGLE-BRAND STORE
    2. SUPERMARKET/HYPERMARKET
    3. E-COMMERCE
  8. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. ACQUISITIONS
      2. PRODUCT LAUNCHES
      3. PARTNERSHIPS
    2. COMPANY PROFILES
      1. ABLE C&C CO LTD
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      2. AMOREPACIFIC CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      3. BNH COSMETICS
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      4. CLIO
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
      5. COSRX INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      6. LG H&H CO LTD
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – K-BEAUTY PRODUCTS

TABLE 2: EXAMPLE OF NOVEL INGREDIENTS IN K-BEAUTY PRODUCTS

TABLE 3: VIETNAM K-BEAUTY PRODUCTS MARKET, BY GENDER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 4: VIETNAM K-BEAUTY PRODUCTS MARKET, BY GENDER, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 5: VIETNAM K-BEAUTY PRODUCTS MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 6: VIETNAM K-BEAUTY PRODUCTS MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 7: VIETNAM K-BEAUTY PRODUCTS MARKET, BY SKINCARE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 8: VIETNAM K-BEAUTY PRODUCTS MARKET, BY SKINCARE, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 9: VIETNAM K-BEAUTY PRODUCTS MARKET, BY BODY CARE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 10: VIETNAM K-BEAUTY PRODUCTS MARKET, BY BODY CARE, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 11: VIETNAM K-BEAUTY PRODUCTS MARKET, BY MAKEUP, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 12: VIETNAM K-BEAUTY PRODUCTS MARKET, BY MAKEUP, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 13: VIETNAM K-BEAUTY PRODUCTS MARKET, BY DISTRIBUTION CHANNEL, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 14: VIETNAM K-BEAUTY PRODUCTS MARKET, BY DISTRIBUTION CHANNEL, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 15: LIST OF ACQUISITIONS

TABLE 16: LIST OF PRODUCT LAUNCHES

TABLE 17: LIST OF PARTNERSHIPS

LIST OF FIGURES

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PEST ANALYSIS

FIGURE 3: PORTER’S FIVE FORCES ANALYSIS

FIGURE 4: GROWTH PROSPECT MAPPING FOR VIETNAM

FIGURE 5: VALUE CHAIN ANALYSIS

FIGURE 6: KEY BUYING CRITERIA

FIGURE 7: VIETNAM K-BEAUTY PRODUCTS MARKET, GROWTH POTENTIAL, BY GENDER, IN 2022

FIGURE 8: VIETNAM K-BEAUTY PRODUCTS MARKET, BY MALE, 2023-2030 (IN $ MILLION)

FIGURE 9: VIETNAM K-BEAUTY PRODUCTS MARKET, BY FEMALE, 2023-2030 (IN $ MILLION)

FIGURE 10: VIETNAM K-BEAUTY PRODUCTS MARKET, GROWTH POTENTIAL, BY PRODUCT TYPE, IN 2022

FIGURE 11: VIETNAM K-BEAUTY PRODUCTS MARKET, BY SKINCARE, 2023-2030 (IN $ MILLION)

FIGURE 12: VIETNAM K-BEAUTY PRODUCTS MARKET, GROWTH POTENTIAL, BY SKINCARE, IN 2022

FIGURE 13: VIETNAM K-BEAUTY PRODUCTS MARKET, BY CLEANSER, 2023-2030 (IN $ MILLION)

FIGURE 14: VIETNAM K-BEAUTY PRODUCTS MARKET, BY TONER, 2023-2030 (IN $ MILLION)

FIGURE 15: VIETNAM K-BEAUTY PRODUCTS MARKET, BY MOISTURIZER, 2023-2030 (IN $ MILLION)

FIGURE 16: VIETNAM K-BEAUTY PRODUCTS MARKET, BY SHEET MASK & SPOT PATCH, 2023-2030 (IN $ MILLION)

FIGURE 17: VIETNAM K-BEAUTY PRODUCTS MARKET, BY LIP CARE, 2023-2030 (IN $ MILLION)

FIGURE 18: VIETNAM K-BEAUTY PRODUCTS MARKET, BY EYE CARE, 2023-2030 (IN $ MILLION)

FIGURE 19: VIETNAM K-BEAUTY PRODUCTS MARKET, BY SUN PROTECTION, 2023-2030 (IN $ MILLION)

FIGURE 20: VIETNAM K-BEAUTY PRODUCTS MARKET, BY BODY CARE, 2023-2030 (IN $ MILLION)

FIGURE 21: VIETNAM K-BEAUTY PRODUCTS MARKET, GROWTH POTENTIAL, BY BODY CARE, IN 2022

FIGURE 22: VIETNAM K-BEAUTY PRODUCTS MARKET, BY HAND CARE, 2023-2030 (IN $ MILLION)

FIGURE 23: VIETNAM K-BEAUTY PRODUCTS MARKET, BY FOOT CARE, 2023-2030 (IN $ MILLION)

FIGURE 24: VIETNAM K-BEAUTY PRODUCTS MARKET, BY HAIR CARE, 2023-2030 (IN $ MILLION)

FIGURE 25: VIETNAM K-BEAUTY PRODUCTS MARKET, BY MAKEUP, 2023-2030 (IN $ MILLION)

FIGURE 26: VIETNAM K-BEAUTY PRODUCTS MARKET, GROWTH POTENTIAL, BY MAKEUP, IN 2022

FIGURE 27: VIETNAM K-BEAUTY PRODUCTS MARKET, BY EYE MAKEUP, 2023-2030 (IN $ MILLION)

FIGURE 28: VIETNAM K-BEAUTY PRODUCTS MARKET, BY LIP MAKEUP, 2023-2030 (IN $ MILLION)

FIGURE 29: VIETNAM K-BEAUTY PRODUCTS MARKET, BY FACE MAKEUP, 2023-2030 (IN $ MILLION)

FIGURE 30: VIETNAM K-BEAUTY PRODUCTS MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNEL, IN 2022

FIGURE 31: VIETNAM K-BEAUTY PRODUCTS MARKET, BY SPECIALTY/SINGLE-BRAND STORE, 2023-2030 (IN $ MILLION)

FIGURE 32: VIETNAM K-BEAUTY PRODUCTS MARKET, BY SUPERMARKET/HYPERMARKET, 2023-2030 (IN $ MILLION)

FIGURE 33: VIETNAM K-BEAUTY PRODUCTS MARKET, BY E-COMMERCE, 2023-2030 (IN $ MILLION)

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