Despite signs of recovery, the tough economic climate in the wake of Coronavirus (COVID-19) exerted strong downward pressure on consumer spending on non-essential and premium products across many categories. According to the General Office of Vietnam, by late 2020 very large numbers of consumers had been negatively affected by the economic impact of COVID-19, such as job losses and reduced working hours and incomes.
In line with the general trend in Asian markets, more and more consumers in Vietnam purchased dermatological skin care products in 2021. Dermocosmetics under brands like Cetaphil, La Roche-Posay, Bioderma, Vichy, Eucerin and Neutrogena continued to be accepted by more and more consumers.
In a highly fragmented competitive landscape, Shiseido Cosmetics Vietnam remained the leading player in retail value sales terms in 2021. The company benefited from the strength of its eponymous brand, which led skin care, and strong, global financial capacity.
Over the forecast period, skin care is predicted to register fast retail volume and value (constant 2021 prices) growth. Even categories that registered sales decreases in 2021, notably firming/anti-cellulite body care and premium skin care sets/kits, are anticipated to see positive growth trajectories.
More mass brands are expected to penetrate skin care in Vietnam, as more and more consumers adopt daily skin care routines. This is also response to the rising demand for skin care products with affordable price points among a large price-sensitive consumer base.
Over the forecast period, digital marketing will continue to be developed as a key tool to reach consumers. Livestreams via social networks like Facebook and TikTok have become popular tools for leading companies like Shiseido Cosmetics Vietnam, Estée Lauder Vietnam and L'Oréal Vietnam (Lancôme) looking to advertise their brands and products and increase interaction with their customers.
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Understand the latest market trends and future growth opportunities for the Skin Care 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 Skin Care 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.
Skin Care
This is the aggregation of facial care, body care, hand care and skin care sets/kits.
See All of Our DefinitionsThis report originates from Passport, our Skin Care research and analysis database.
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