Global Vietnam Cosmetics Market Outlook, Prospect and Future 2020
Summary - A new market study, titled “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)” has
been featured on WiseGuyReports.
Vietnam Cosmetics Market
expected to boost by the rapid pace of urbanization and the surge in income
levels in Vietnam
The Vietnam Cosmetics
market projected to grow with a notable rate during the estimated period
2019-2027, owing to the higher demand for products enriched with natural
ingredients. Vietnamese consumers believe that these products are safer, better
quality, environmentally friendly, and more effective. Additionally, the aging
of the population, an increase in the number of the middle class, and rapid
urbanization projected to propel the Vietnam Cosmetics market in the forecast
period. In 2017, households with per capita disposable income US $ 5,000 to $
15,000 accounted for 34%, which are estimated to reach 49% by 2030.
Moreover, the growth of the Vietnamese middle-income
population and their changing preference for high-quality cosmetics is a major
factor anticipated to grow the Vietnam cosmetics market. Additionally, the rise
in internet penetration in Vietnam, along with the growth of Vietnam's economy,
more people are expected to go online in the next few years. These factors will
accelerate the Vietnam cosmetics market. Furthermore, the advantage for
Vietnamese cosmetics manufacturers is that they can use Vietnam's rich and
diverse natural raw materials, including essential oils, mint, lemon vanilla,
and anise, which exhibited to influence the Vietnam cosmetics market. Also, the
rapid development of Vietnam's economy, coupled with the development of the
retail industry, will foster the Vietnam cosmetics market.
Additionally, changing Vietnam's consumer preferences for
organic and natural cosmetics, increasing consumer awareness, and a rise in
disposable income expected to promulgate the Vietnam cosmetics market soon.
Product Type Overview in the Vietnam Cosmetics Market
Based on Product Type, the Vietnam Cosmetics Market
categorized into Hair Care, Skin Care, Bath and Shower Products, Makeup &
Color Cosmetics Products, Fragrances & Deodorants. Hair Care and Skin Care
expected to dominate Vietnam Cosmetics owing to the rising spending power and
improved standards of living. Consumers in Vietnam have become increasingly
conscious about using products deemed safer for health and public consumption.
Distribution Channel Overview in the Vietnam Cosmetics
Market
Based on the Distribution Channel, the Vietnam Cosmetics
market classified into Beauty Parlors/Salons, Multi Branded Retail Stores,
Online Channels, Supermarkets/Hypermarkets, Exclusive Retail Store, and Others.
Online Channels projected to generate maximum revenue due to the rapid surge in
internet users in Vietnam, along with an increase in the average income and the
healthy development of social networks.
Vietnam Cosmetics Market: Competitive Landscape
Companies such as O-Hui, Pond's, Nivea, Shiseido Company,
Limited, The Face Shop, Maybelline, Rohto, Innisfree, 3CE, MAC Cosmetics,
Chanel S.A are the key players in the Vietnam Cosmetics Market.
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/5624662-vietnam-cosmetics-market-by-product-type-hair-care
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