In the review period, mass beauty and personal care lost value share to premium brands such as Shiseido, Estée Lauder and L’Oréal. The first contributing factor is the accelerating level of disposable income, leading to higher living standards.
As living standards in Vietnam are increasing gradually in main cities like Hanoi and Ho Chi Minh, mass companies are required to focus significant attention on launching new innovative products such as herbal, organic or natural ones in order regain Vietnamese consumers’ interest. In the review period, mass brands from local and international producers launched a number of new products.
Over the forecast period, mass beauty and personal care is predicted to experience slower value growth. However, manufacturers of mass brands will continue to focus on expanding distribution through rural areas and investing in product development to attract customers in the future.
In 2018, Unilever Vietnam continued to hold the leading retail value share of mass-market sales. The company is noted for its leading brands amongst the bath and shower category such as Hazeline, Lux, Dove and Lifebuoy.
Similar to other categories within beauty and personal care, international brands outperformed domestic brands in all aspects and maintained their dominant positions in 2018. In Vietnam, top international players such as Unilever Vietnam International, Unza Vietnam and International Consumers Products dominated mass beauty and personal care in Vietnam, leaving little room for domestic players to grow.
Over the forecast period, international companies are expected to maintain their stronger presence compared to local players. However, local players are projected to gain more consumer attention as they continuously improve their product quality to enhance consumers’ trust and confidence.
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Discover the latest market trends and uncover sources of future market growth for the Mass Beauty and Personal Care industry in Vietnam with research from Euromonitor's team of in-country analysts.
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