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Vietnam Skin Care Products Market by Type (Cream, Lotion, and Others), Demographics (Male and Female), Age Group (Generation X, Millennial, and Generation Z), and Sales Channel (Supermarket/Hypermarket, Specialty Stores, Department Stores, Beauty Salons, Pharma & Drug Stores, and Online Sales Channel): Opportunity Analysis and Industry Forecast, 2021–2027
| A06729 | Pages: 143 | Aug 2020 | 1602 Views | | |
| Author(s) : Raju Kale , Roshan Deshmukh | Tables: 6 | Charts: 38 | Formats*: | |
COVID-19
Pandemic disrupted the entire world and affected many industries.
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Request Now !The Vietnam skin care products market size was valued at $854.3 million in 2019, and is projected to reach $1,922.4 million by 2027, registering a CAGR of 11.7% from 2021 to 2027. The skin care products market exhibits an incremental revenue opportunity of $1,154.25 million from 2020 to 2027. Skin care products refer to those products, which improve skin integrity and provide relief to skin conditions, thereby enhancing the appearance. Several types of skin care products are available in the market, which include cream, lotion, masks, and serums. These products are manufactured using chemical compounds, medicinal herbs, or natural ingredients.
Rise in awareness regarding the benefits of self-care among consumers has propelled the adoption of organic skin care products in Vietnam. Increase in disposable income and rise in young population are the crucial factors that boost the growth for Vietnam skin care products market. Generation Z accounts for 39.08% of the total population. These consumers prefer brands that reflect their values and attitude. Skin care products have witnessed significant adoption among these consumers, as Gen Z is most easily influenced by online advertising. In addition, increase in internet penetration has positively impacted the sale of skin care products by offering multiple benefits to consumers such as heavy discounts, easy price comparisons, availability of more variety, and door step delivery. These factors collectively have led to an increased demand for skin care products among consumers in the country.
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However, rise in penetration of counterfeit products and surge in preference toward advanced beauty treatment such as microdermabrasion, laser resurfacing, laser skin rejuvenation, acne blue light therapy, and Thermage restrict the Vietnam skin care products market growth. On the contrary, increase in preference for domestic brands among Vietnam consumers can be regarded as opportunities by skin care manufactures to further expand their consumer base.
According to Vietnam skin care products market analysis, the market is segmented on the basis of product type, demographics, age group, and sales channel. By type, it is categorized into cream, lotion and others. Depending on demographics, it is bifurcated into male and female. On the basis of age group, it is classified into generation X, millennial, and generation Z. As per sales channel, it is fragmented into supermarket/hypermarket, specialty stores, department stores, beauty salons, pharma & drug stores, and online sales channel.
Vietnam Skin Care Products Market
By Product Type
The Others segment would witness the fastest growth, registering a CAGR of 12.7% during the forecast period.
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On the basis of type, the cream segment accounted for the maximum Vietnam skin care products market share in 2019, since cream and cream-based products are regarded as one of the most popular skin care products in Vietnam. Consumers in the country are adopting various skin care products due to increase in consciousness regarding appearance and well-being. In addition, the adoption of skin care cream has augmented among generation Z, owing to its varied benefits that help improve the skin tone and texture. To cater to the ever-changing needs of customers, key players are focusing on R&D activities to introduce a novel product line in the skin care products market. These companies are further investing in packaging and marketing activities to gain maximum visibility among consumers. Lacvert Sensitive Skin, ISA KNOX White Focus Clear Whitening, and Clarins Gentle Care are some of the popular cream products in the country.
Vietnam Skin Care Products Market
By Demographics
Male segment would witness the fastest growth, registering a CAGR of 12.4% during the forecast period.
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By demographics, the female segment was dominant, which accounted for more than half of the share in market in 2019, and is expected to continue this trend during the Vietnam skin care products market forecast period. The female population in Vietnam is around 49.87% of the total population. Surge in urban women population in Vietnam and increase in need to maintain basic personal hygiene have augmented the sale of skin care products. Several other factors such as increase in female labor force and rise in awareness regarding maintaining prolonged beauty have significantly contributed toward the growth of the overall market.
Vietnam Skin Care Products Market
By Age group
Millennials segment would witness the largest segment registering a major share of 46.17% during the forecast period.
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Depending on age group, the millennial segment held a significant share in the Vietnam skin care products market in 2019, as millennial in the country are not only conscious about their health and fitness but are also much less materialistic than other generations, i.e., caring more for a worthwhile experience than a tangible product. Moreover, they are known to be more tech-savvy and exhibit interest in trying new products, which make them the key target audience.
Vietnam Skin Care Products Market
By Sales Channel
Supermarket/Hypermarket segment would witness the largest segment registering a major share of 29.29%% during the forecast period.
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As per sales channel, the supermarket/hypermarket segment held a significant share in the Vietnam market in 2019, owing to increase in benefits offered by it such as discounts and availability of optimum options for cosmetics products. Around 90% of cosmetics products are imported in Vietnam. Foreign brands sell their products through distributors and supermarket/hypermarket. Supermarkets/hypermarkets have gained high popularity, owing to availability of a broad range of consumer goods, ample parking space, and convenient operation timings. Availability of cosmetics in supermarket/hypermarket provides increased accessibility to consumers of multiple cosmetic brands. Moreover, these serve as one-stop solution, which makes them a popular option of shopping. Some of the major supermarkets/hypermarket in the country are Fivimart supermarket, Intimex supermarket, Metro supermarket, and Big C supermarket.
The players in Vietnam skin care products market have adopted new product launch as their key developmental strategy to expand their market share, increase profitability, and remain competitive in the market. The key players operating in Vietnam skin care products industry includes L'Oréal Group, the Procter & Gamble Company, Unilever PLC, Bejesdorf AG, Estee Lauder Companies Inc., Shiseido Company Limited, Saigon Cosmetics Corporation, and Marico.
Key Benefits For Stakeholders
- The report provides extensive analysis of the Vietnam skin care products market trends and future estimations & Vietnam skin care products market opportunities.
- The report provides detailed qualitative and quantitative analyses, which help understand the prevailing market opportunities.
- A comprehensive analysis of the factors that drive and restrict the growth of the Vietnam skin care products market is provided in the study.
- An extensive analysis of the market is conducted by following key product positioning and monitoring top competitors within the market framework.
- The report provides extensive qualitative insights on the potential & niche segments.
Key Market Segments
By Type
- Cream
- Lotion
- Others
By Demographics
- Male
- Female
By Age Group
- Generation X
- Millennial
- Generation Z
By Sales Channel
- Supermarket/Hypermarket
- Premium
- Non-premium
- Specialty Stores
- Premium
- Non-premium
- Department Stores
- Premium
- Non-premium
- Beauty Salons
- Premium
- Non-premium
- Pharma & Drug Stores
- Premium
- Non-premium
- Online Sales Channel
- Premium
- Non-premium
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key market segments
1.3.Key market benefits for stakeholders
1.4.Research methodology
1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.CXO perspective
CHAPTER 3:MARKET LANDSCAPE
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pocket
3.3.Porter's five forces analysis
3.3.1.Bargaining power of suppliers
3.3.2.Bargaining power of buyer
3.3.3.Thereat of new entrants
3.3.4.Threat of substitute
3.3.5.Intensity of competitive rivalry
3.4.Market dynamics snapshot
3.5.Top influencers
3.6.Average duration of skin care products registration
3.6.1.Introduction
3.6.2.General regulation
3.6.2.1.The scope of regulation and objects of application
3.6.2.2.Term Interpretation
3.6.3.Cosmetic product proclamation
3.6.3.1.The cosmetic product proclamation regulation:
3.6.3.2.The cosmetic proclamation dossier:
3.6.3.3.The manner to establish the cosmetic product proclamation report and the proclamation data:
3.6.3.4.Provisions of the authorization certificate
3.6.3.5.Procedure of receiving and solving proclamation dossier
3.6.3.6.The regulation on writing the receipt number of cosmetic product proclamation report
3.6.3.7.The change of proclaimed contents
3.6.3.8.The effect time of the receipt number of cosmetic product proclamation report
3.6.4.Cosmetic product information dossier
3.6.4.1.The general regulation of cosmetic product information dossier
3.6.4.2.The Content of the Product Information File
3.6.5.Cosmetic product safety requirements
3.6.5.1.The cosmetic safety requirements
3.6.5.2.The prohibited Ingredients, the regulated Ingredients of concentration, content and use condition limit in the cosmetic product formula
3.6.5.3.Cosmetic products contain the following Ingredients are still allowed to be putting on the market
3.6.6.Writings on the cosmetic label
3.6.6.1.The label location
3.6.6.2.The size, the appearance, and the content of label
3.6.6.3.The content required to write on the label
3.6.6.4.The presented language on the cosmetic label
3.6.6.5.The other information is presented on the cosmetic label
3.6.7.Cosmetic advertising
3.6.7.1.The regulation on advertising cosmetic
3.6.7.2.The content of cosmetic advertising, seminar, and cosmetic introduction event
3.6.7.3.The cosmetic advertising on the television, the radio device
3.6.7.4.The advertising on newspaper or pamphlet
3.6.7.5.The registration dossier of cosmetic advertising, seminar organization, cosmetic introduction event
3.6.7.6.The order and procedure of issuing the registration dossier receipt of cosmetic advertising, seminar organization, and cosmetic introduction event
3.6.7.7.The advertising information content evaluating fee
3.6.7.8.The cosmetic advertising in other local areas
3.6.7.9.Changing and supplementing the content of advertising, seminar organization, and cosmetic introduction event
3.6.7.10.The invalid cases of cosmetic advertising content, seminar organization content, and cosmetic introduction event
3.6.8.Export or import of cosmetic
3.6.8.1.Export of cosmetic
3.6.8.2.The file, procedure of issuing the Certificate of Free Sale (CFS) in regard to the cosmetic which has been domestic produced for export
3.6.8.3.The file, the procedure of issuing the certificate of organization satisfying principles and norms of the “cosmetic good manufacture practice” of the ASEAN Association (CGMP- ASEAN), which serves for
the export demand
3.6.8.4.Import of cosmetic
3.6.9.Cosmetic sampling for the quality check
3.6.9.1.The principle of sampling
3.6.9.2.The rights and obligations of sampling officer
3.6.9.3.The transportation and transfer samples
3.6.9.4.The conclusion of the cosmetic samples quality checking
3.6.9.5.The sampling and analyzing fee for the cosmetic quality check
3.6.10.Checking, investigating, and handling of violations
3.6.10.1.The state checking on the cosmetic quality
3.6.10.2.The checking and inspecting form
3.6.10.3.The content of checking and inspecting
3.6.10.4.The priority order in checking and supervising the post sale-promotion
3.6.11.The obligation of the organization, the individual who manufacture, trade, and import the cosmetic and the consumer’s right
3.6.11.1.The obligation of the organization, the individual who manufacture, trade, and import the cosmetic in order to put on the Vietnam market
3.6.11.2.The cosmetic consumer’s right
3.6.12.The implementing organization
3.6.12.1.The information and the report
3.6.12.2.The forms and the appendixes attached with the Circular
3.6.12.3.The transfer regulation:
3.6.12.4.The implementation effect:
3.7.COVID-19 impact on Vietnam skin care products market
3.7.1.COVID-19 disruption dashboard in Vietnam
3.7.2.Macro-economic indicators projections in Vietnam
CHAPTER 4:VIETNAM SKIN CARE PRODUCTS MARKET, BY PRODUCT TYPE
4.1.Overview
4.1.1.Market size and forecast
4.2.Cream
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast
4.3.Lotions
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast
4.4.Others
4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast
CHAPTER 5:VIETNAM SKIN CARE PRODUCTS MARKET, BY DEMOGRAPHICS
5.1.Overview
5.1.1.Market size and forecast
5.2.Male
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast
5.3.Female
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast
CHAPTER 6:VIETNAM SKIN CARE PRODUCTS MARKET, BY AGE GROUP
6.1.Overview
6.1.1.Market size and forecast
6.2.Generation X
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast
6.3.Millennial
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast
6.4.Generation Z
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast
CHAPTER 7:VIETNAM SKIN CARE PRODUCTS MARKET, BY SALES CHANNEL
7.1.Overview
7.2.Premium skin care products
7.2.1.Key market trends, growth factors, and opportunities
7.3.Non-premium skin care products
7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast
7.4.Supermarket/hypermarket
7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast
7.4.3.Premium
7.4.3.1.Market size and forecast
7.4.4.Non-premium
7.4.4.1.Market size and forecast
7.5.Specialty stores
7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast
7.5.3.Premium
7.5.3.1.Market size and forecast
7.5.4.Non-premium
7.5.4.1.Market size and forecast
7.6.Department stores
7.6.1.Key market trends, growth factors, and opportunities
7.6.2.Market size and forecast
7.6.3.Premium
7.6.3.1.Market size and forecast
7.6.4.Non-premium
7.6.4.1.Market size and forecast
7.7.Beauty salons
7.7.1.Key market trends, growth factors, and opportunities
7.7.2.Market size and forecast
7.7.3.Premium
7.7.3.1.Market size and forecast
7.7.4.Non-premium
7.7.4.1.Market size and forecast
7.8.Pharma & drug stores
7.8.1.Key market trends, growth factors, and opportunities
7.8.2.Market size and forecast
7.8.3.Premium
7.8.3.1.Market size and forecast
7.8.4.Non-premium
7.8.4.1.Market size and forecast
7.9.Online sales channel
7.9.1.Key market trends, growth factors, and opportunities
7.9.2.Market size and forecast
7.9.3.Premium
7.9.3.1.Market size and forecast
7.9.4.Non-premium
7.9.4.1.Market size and forecast
LIST OF TABLES
TABLE 01.COVID-19 DISRUPTION DASHBOARD IN VIETNAM
TABLE 02.MACRO-ECONOMIC INDICATORS PROJECTIONS IN VIETNAM
TABLE 03.VIETNAM SKIN CARE PRODUCTS MARKET, BY PRODUCT TYPE, 2017-2027 ($MILLION)
TABLE 04.VIETNAM SKIN CARE PRODUCTS MARKET, BY DEMOGRAPHICS, 2017-2027 ($MILLION)
TABLE 05.VIETNAM SKIN CARE PRODUCTS MARKET, BY AGE GROUP, 2017-2027 ($MILLION)
TABLE 06.VIETNAM SKIN CARE PRODUCTS MARKET, BY SALES CHANNEL, 2017-2027 ($MILLION)
LIST OF FIGURES
FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.VIETNAM SKIN CARE PRODUCTS MARKET SNAPSHOT
FIGURE 03.TOP INVESTMENT POCKETS, BY AGE GROUP
FIGURE 04.MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 05.MODERATE BARGAINING POWER OF BUYERS
FIGURE 06.MODERATE THREAT OF NEW ENTRANTS
FIGURE 07.MODERATE THREAT OF SUBSTITUTION
FIGURE 08.HIGH INTENSITY OF COMPETITIVE RIVALRY
FIGURE 09.VIETNAM SKIN CARE PRODUCTS MARKET SHARE, BY PRODUCT TYPE, 2019(%)
FIGURE 10.VIETNAM SKIN CARE PRODUCTS MARKET VALUE FOR CREAM, 2017–2027 ($MILLION)
FIGURE 11.VIETNAM SKIN CARE PRODUCTS MARKET VALUE FOR LOTIONS, 2017–2027 ($MILLION)
FIGURE 12.VIETNAM SKIN CARE PRODUCTS MARKET VALUE FOR OTHERS, 2017–2027 ($MILLION)
FIGURE 13.VIETNAM SKIN CARE PRODUCTS MARKET SHARE, BY DEMOGRAPHICS, 2019(%)
FIGURE 14.VIETNAM SKIN CARE PRODUCTS MARKET VALUE FOR MALE, 2017–2027 ($MILLION)
FIGURE 15.VIETNAM SKIN CARE PRODUCTS MARKET VALUE FOR FEMALE, 2017–2027 ($MILLION)
FIGURE 16.VIETNAM SKIN CARE PRODUCTS MARKET SHARE, BY AGE GROUP, 2019(%)
FIGURE 17.VIETNAM SKIN CARE PRODUCTS MARKET VALUE FOR GENERATION X, 2017–2027 ($MILLION)
FIGURE 18.VIETNAM SKIN CARE PRODUCTS MARKET VALUE FOR MILLENNIAL, 2017–2027 ($MILLION)
FIGURE 19.VIETNAM SKIN CARE PRODUCTS MARKET VALUE FOR GENERATION Z, 2017–2027 ($MILLION)
FIGURE 20.VIETNAM SKIN CARE PRODUCTS MARKET SHARE, BY SALES CHANNEL, 2019 (%)
FIGURE 21.VIETNAM SKIN CARE PRODUCTS MARKET FOR SUPERMARKET/HYPERMARKET, 2017-2027 ($MILLION)
FIGURE 22.VIETNAM PREMIUM SKIN CARE PRODUCTS MARKET FOR SUPERMARKET/HYPERMARKET, 2017-2027 ($MILLION)
FIGURE 23.VIETNAM NON-PREMIUM SKIN CARE PRODUCTS MARKET FOR SUPERMARKET /HYPERMARKET, 2017-2027 ($MILLION)
FIGURE 24.VIETNAM SKIN CARE PRODUCTS MARKET FOR SPECIALTY STORES 2017-2027 ($MILLION)
FIGURE 25.VIETNAM PREMIUM SKIN CARE PRODUCTS MARKET FOR SPECIALTY STORES, 2017-2027 ($MILLION)
FIGURE 26.VIETNAM NON-PREMIUM SKIN CARE PRODUCTS MARKET FOR SPECIALTY STORES, 2017-2027 ($MILLION)
FIGURE 27.VIETNAM SKIN CARE PRODUCTS MARKET FOR DEPARTMENT STORES, 2017-2027 ($MILLION)
FIGURE 28.VIETNAM PREMIUM SKIN CARE PRODUCTS MARKET FOR DEPARTMENT STORES, 2017-2027 ($MILLION)
FIGURE 29.VIETNAM NON-PREMIUM SKIN CARE PRODUCTS MARKET FOR DEPARTMENT STORES, 2017-2027 ($MILLION)
FIGURE 30.VIETNAM SKIN CARE PRODUCTS MARKET FOR BEAUTY SALONS, 2017-2027 ($MILLION)
FIGURE 31.VIETNAM PREMIUM SKIN CARE PRODUCTS MARKET FOR BEAUTY SALONS, 2017-2027 ($MILLION)
FIGURE 32.VIETNAM NON-PREMIUM SKIN CARE PRODUCTS MARKET FOR BEAUTY SALONS, 2017-2027 ($MILLION)
FIGURE 33.VIETNAM SKIN CARE PRODUCTS MARKET FOR PHARMA AND DRUG STORES, 2017-2027 ($MILLION)
FIGURE 34.VIETNAM PREMIUM SKIN CARE PRODUCTS MARKET FOR PHARMA AND DRUG STORES, 2017-2027 ($MILLION)
FIGURE 35.VIETNAM NON-PREMIUM SKIN CARE PRODUCTS MARKET FOR PHARMA AND DRUG STORES, 2017-2027 ($MILLION)
FIGURE 36.VIETNAM SKIN CARE PRODUCTS MARKET FOR ONLINE STORES, 2017-2027 ($MILLION)
FIGURE 37.VIETNAM PREMIUM SKIN CARE PRODUCTS MARKET FOR ONLINE STORES, 2017-2027 ($MILLION)
FIGURE 38.VIETNAM NON-PREMIUM SKIN CARE PRODUCTS MARKET FOR ONLINE STORES, 2017-2027 ($MILLION)
According to the CXOs of the top-level companies, leading manufactures of the market target private label brands to increase their product reach in the market, which is expected to supplement the overall revenue growth of the skin care products industry. Millennial in Vietnam are the major consumers of skin care products; thus, surge in millennial population contributes toward the market growth. Moreover, rise in disposable income and increase in awareness toward probable risks associated with sun exposure, such as sunburns, boost the demand for skin care products.
The CXOs further added that the cosmetic industry is majorly influenced by SMEs operating in the Vietnam market. These SMEs are offering their products to different locations through online sales channels or through mail order sales. Leading players in the market are targeting direct sales of their product through authorized outlets and online portals. These players are focusing on promoting their unique product offerings and supplying them through direct sales channel.
The adoption of direct sales strategy in the supply chain has significantly reduced the overall cost of products. This strategy has further provided revenue benefits to companies. The adoption of direct sales strategies is anticipated to provide strong revenue growth opportunity for the skin care products market during the forecast period.
Q1. What is the total market value of the Vietnam Skin Care Products Market report?
A. The total market value of the Vietnam Skin Care Products Market report in 2019 is $854.3 million and is projected to reach $1,922.4 million by 2027.
Q2. What would be the forecast period in the Vietnam Skin Care Products Market report?
A. The forecast period in the Vietnam Skin Care Products Market report is from 2021 to 2027.
Q3. Which is the base year calculated in the Vietnam Skin Care Products Market report?
A. The base year calculated in the Vietnam Skin Care Products Market report is 2019.
Q4. Which are the top companies hold the market share in the Vietnam Skin Care Products Market?
A. L'Oréal Group, the Procter & Gamble Company, Unilever Vietnam, Estee Lauder Companies Inc., and Shiseido Company Limited are the top companies hold the market share in the Vietnam Skin Care Products Market.
Q5. Which is the most influencing segment growing in the Vietnam Skin Care Products Market report?
A. The face cream is the most influencing segment growing in the Vietnam Skin Care Products Market report.
Q6. Which segment holds the maximum market share of the Vietnam Skin Care Products Market?
A. Cream segment holds the maximum market share of the Vietnam Skin Care Products Market in 2019.
Q7. What is the market value of the Vietnam Skin Care Products Market in 2021?
A. The market value of the Vietnam Skin Care Products Market in 2021 is $989.7 Million.
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