Colour cosmetics was heavily impacted by the Coronavirus (COVID-19) pandemic. Lockdowns, work-from-home policies, few opportunities for socialising and social distancing rules strongly reduced potential consumption occasions.
At the end of September 2021 (Q3), Vietnam’s working age unemployment rate was slightly higher compared to September 2020, while the average consumer income fell over the same period. According to the General Statistics Office of Vietnam, the September 2021 figures for unemployment and average consumer income represented the lowest points recorded in Vietnam over the last 10 years.
Digital marketing, livestreaming and e-commerce are major developments in colour cosmetics in Vietnam. In 2021, e-commerce witnessed the fastest value sales and share growth in terms of distribution.
Colour cosmetics is expected to see a strong rebound in the forecast period, in both the premium and mass segments. However, the extent of the slump at the end of the review period is reflected in the projection that retail volume and value (constant 2021 prices) sales will not exceed 2019 levels until 2024.
Over the forecast period, facial make-up is expected to rebound fast as consumers enjoy wearing such products after the hiatus due to the pandemic. Moreover, they are likely to be attracted by increasingly sophisticated ranges.
Despite the strong leadership of international brands, local brands are expected to gain a stronger foothold due to reasonable prices in a tough economic climate and the appeal of celebrities. In Vietnam, local brands, such as Ofélia, M.
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Understand the latest market trends and future growth opportunities for the Colour Cosmetics industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Colour Cosmetics industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is the aggregation of facial make-up, eye make-up, lip products, nail products and colour cosmetics sets/kits.See All of Our Definitions
This report originates from Passport, our Colour Cosmetics research and analysis database.
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