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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.
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.
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.
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.
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.
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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Overview
Discover the latest market trends and uncover sources of future market growth for the Men's Grooming industry in Vietnam with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
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This industry report originates from Passport, our Beauty and Personal Care market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.