Welcome to our in-depth report on the shining and promising beauty care market in Vietnam sourced from Kantar Worldpanel. As the personal care sector continues to experience strong growth in Asia, the beauty market in Vietnam is flourishing with diverse product choices, formats, and variants. In this report, we will explore four major trends that are riding the beauty waves in Asia and can be applied to the Vietnam market to seize growth opportunities.
- Health and wellness is a key factor in beauty product choice:
Consumers today prioritize their health and well-being when selecting beauty products. They are increasingly drawn to products that promote natural and safe ingredients. Ingredients such as mud, seed oils, and seaweeds are being actively promoted for their natural properties. Vietnamese consumers, in particular, are showing a strong interest in certified organic and vegan ingredients, reflecting their growing awareness of the benefits of these options. Additionally, dermatological or derma products that contain complex ingredients designed to address specific skin issues are highly preferred by Asian beauty lovers. This trend is particularly prominent in the premium segment in Vietnam and is expected to see significant growth as more mainstream brands enter the market.
- On-demand beauty:
Consumer demands in the beauty industry are shifting towards convenience and efficiency, going beyond the traditional focus on functional benefits. Today’s consumers seek products that are not only effective but also easy to use, provide quick results, and make their lives easier. This trend has led to the rise in popularity of formats such as serums, face masks, and other innovative solutions in both skincare and makeup. These products cater to the growing demand for on-the-go and time-saving beauty routines, allowing consumers to achieve their desired results in a more convenient manner.
- Natural look:
The preference for a natural and effortless look has become increasingly popular among consumers. Rather than heavily made-up appearances, consumers now favor a more minimalistic approach to makeup. Products like BB cream, liquid foundation, primer, and concealer have experienced a surge in popularity as they help achieve a natural look while providing the necessary coverage. Furthermore, there is a rising trend of combining skincare and makeup, with hybrid formulas that offer a natural finish while also nurturing and maintaining healthy skin. This holistic approach to beauty resonates with consumers who seek a balance between enhancing their appearance and caring for their skin.
- Beauty that is Just For Me:
Personalization has become a significant demand among consumers in the beauty industry. Brands are now offering a wider selection of colors, formats, and finishes to cater to individual preferences. Foundations and sunscreens, for example, now come in multiple color schemes to match various skin types and tones. Lipsticks also offer a diverse range of shades to suit different preferences. Additionally, brands are providing opportunities for consumers to mix and match their own beauty items, enhancing the personalized experience and allowing individuals to create their unique combinations. This focus on personalization enhances the overall customer experience and helps build stronger connections with consumers.
- Key Points for Success in Vietnamese Market:
- Simple and quick: Vietnamese consumers value simplicity and efficiency in their beauty routines. Products that are easy to use and provide quick results are highly sought after.
- Natural and holistic: Emphasizing natural ingredients and a holistic approach to beauty resonates with Vietnamese consumers. Brands should highlight the benefits of skincare while achieving a natural look.
- Attention to male customers: Male customers in Vietnam seek greater efficiency and functional care in their beauty products. Brands should cater to their specific needs and preferences.
- Anti-aging and whitening benefits: Incorporating anti-aging and whitening benefits in beauty products is highly valued by Vietnamese consumers.
- Exclusive engagement: Vietnamese consumers appreciate exclusive and personalized experiences. Brands should strive to create products and experiences that are as personalized as possible, avoiding a one-size-fits-all approach.
- In Vietnam, the positive macroeconomic conditions and higher living standards have resulted in changes in Vietnamese lifestyles and needs. Urbanites now allocate more of their budget to aspirational demands, including beauty care. The “Me not We” mindset, which emphasizes self-indulgence and self-appearance, is strongly advocated, leading to a growing concentration on personal well-being. The
In conclusion, The beauty care market in Vietnam is shining and full of promising opportunities. With the strong influence of Korean beauty, the rise of complex skincare routines, the demand for natural looks, and the desire for personalized experiences, businesses can tap into this market by offering innovative products and embracing the digital era. Key summary of this report are:
- Health and wellness play a crucial role in beauty product choices, with a focus on natural and safe ingredients.
- Convenience and efficiency are driving the demand for on-demand beauty products.
- The natural look trend emphasizes minimal makeup with added skincare benefits.
- Personalization is key, with consumers seeking a wider selection of colors and customized options.
- Korean beauty influences the market, with Korean brands growing rapidly in Vietnam.
- Skincare routines are becoming more complex, with consumers adopting multiple steps and innovative formats.
- Premiumization is evident as consumers are willing to invest in high-quality beauty products.
- Key drivers for change in Vietnam include the digital era, brand diversity, beauty KOLs, influencers, and the growth of online shopping.
Contact our Vietnam team for support in navigating this flourishing Vietnamese beauty care market and capturing growth opportunities.
