Men's Grooming in Vietnam

PRE-COVID-19 PERFORMANCE

Rising maturity represents threat to future growth

Demand for men’s grooming has been booming in recent years due to higher hygiene awareness and the improving economic outlook. This can be attributed to huge marketing efforts by leading players like International Consumer Products, Unza Vietnam and Beiersdorf Vietnam.

New innovative products helping to attract male consumers

Deodorants continue to record strong value growth, despite increasing maturity. Over the review period, perfumed deodorant saw a strong increase in popularity in Vietnam due to its convenience.

Extensive advertising key to dominance of international players

Over the forecast period, local players are projected to gain more consumer attention as they continuously improve product quality to enhance trust and confidence. Moreover, with the Vietnamese government’s support, local players will have a particularly good opportunity to increase their value share within men’s deodorants.

2020 AND BEYOND

COVID-19 impact

Sales of men’s grooming are now expected to rise by 1% in 2020 in 2019 constant value terms in light of the impact of COVID-19. Although social distancing was only applied in April 2020, most Vietnamese people and some businesses started to stay at home from the end of February.

Affected products within men’s grooming

Demand within all product areas across men’s grooming is slightly subdued due to the impact of stay-at-home measures and a consequent decline in the number of social occasions. For example, men’s shaving is being impacted by the fact that men are simplifying their grooming regimes as they seek to save money, with men’s post-shave and men’s pre-shave being hit hardest.

Recovery and opportunities

Following a fall in value growth in 2020 as a result of the COVID-19 lockdown and economic uncertainty, men’s grooming should start to recover in 2021 and see good annual growth for the remainder of the forecast period. Consumers are likely to remain highly price-sensitive and many will continue to limit spending in this area.

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