Vietnam Skin Care Products Market Forecast 2024, Rising Trends, Revenue, Demand, Key Players, Challenges, and Future Scope till 2033: SPER Market Research
Skin care products are made with ingredients that are specifically formulated to preserve and enhance the skin’s health and appearance. They are available in many different forms, such as cleansers, moisturizers, exfoliants, serums, sunscreens, and treatments for particular issues like aging or acne. Cleansers remove debris and impurities from the skin, while moisturizers hydrate and preserve the skin barrier. Each product has a specific function. Examples of active ingredients that are required to cure particular skin conditions and encourage a glowing complexion are antioxidants, retinol, and hyaluronic acid.
According to SPER market research, ‘Vietnam Skin Care Products Market Size- By Type, By Packaging Type, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Vietnam Skin Care Products Market is predicted to reach USD 2613.34 Million by 2033 with a CAGR of 10.81%.
Drivers: Vietnam’s skin care product industry is growing as a result of several significant causes. First, as a result of growing disposable incomes and a growing middle class, consumers are placing a higher priority on skin health and attractiveness, which has led to an increase in spending on personal care and beauty products. Additionally, influencer culture and social media have increased consumer awareness of the benefits of personalized skin care routines, promoting greater product testing and brand loyalty. The increasing demand for natural and organic ingredients also reflects a shift toward sustainability and improved beauty practices. Furthermore, the expansion of e-commerce platforms has made skin care products more widely available, allowing consumers to conveniently purchase and discover new brands.
Challenges: One factor impeding the growth of the Vietnamese skin care product market is growing consumer worries about the possible various negative impacts of skin care products on the environment and one’s body. Skin care products harm the environment by deteriorating the land and water they are released into, which is a result of the increased amount of chemical waste produced by industry. For people with sensitive skin types, a lot of products might potentially trigger allergies and irritations. Because of the responses that parabens, perfumes, SLS (Sodium Lauryl Sulfate), phthalates, lead, triclosan, coal tar, oxybenzone, hydroquinone, and petrolatum cause, natural skin care products are becoming more and more popular. These substances may be detrimental to your skin’s health.
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Impact of COVID-19 on Vietnam Skin Care Products Market
Vietnam’s skin care product industry was significantly impacted by the COVID-19 pandemic, which changed consumer behavior and market dynamics. Retail sales initially declined, especially in physical stores, as a result of lockdown procedures and increased health concerns. However, online sales channels expanded significantly as consumers adjusted to new buying habits, and e-commerce platforms became essential for product distribution.
Demand for anti-aging, moisturizing, and protective goods increased during the pandemic as customers’ focus shifted to skin health and personal cleanliness. As more individuals work from home, skincare routines have become more important, and many consumers are now spending money on at-home cosmetic treatments.
Vietnam Skin Care Products Market Key Players:
Additionally, some of the market key players are Procter & Gamble Company, Estee Lauder Companies Inc, Avon Products, L’Oréal, Shiseido Company Limited, Unilever Vietnam, Saigon Cosmetics Corporation, Dai Viet Huong Company Limited, Others.
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Vietnam Skin Care Products Market Growth
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