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Cosmetics market in Vietnam - statistics & facts

Vietnam has one of the fastest-growing middle-class populations in Southeast Asia. As people have more disposable income, the demand for various consumer goods has been increasing in the country, especially for cosmetics and personal care items. Although the revenue of the beauty and personal care market in Vietnam slightly decreased in 2020 due to the impact of the COVID-19 pandemic, it has started to pick up again as consumers regain their confidence to spend since 2021.

K-beauty is winning over the Vietnamese cosmetics market

South Korean beauty brands have established themselves as the leading players within the cosmetic markets across Asia, and Vietnam is not an exception. Indeed, the popularity of K-beauty products is among the highest in Vietnam compared to other countries globally. The East Asian nation has also been Vietnam’s largest import partner for cosmetics, with the import value reaching over 263 million U.S. dollars in 2021. Apart from South Korean brands, Vietnamese consumers also enjoy using products of other Asian origins, such as Japanese and Thai brands. Meanwhile, due to the fierce competition and the high consumer preference for international brands, local businesses still have not gained a significant market share for these products.

According to a survey in 2020, around 30 percent of Vietnamese women wore make-up every day, with lipsticks being the most popular item owned by consumers in the country. Additionally, Korean pop culture has a significant influence on the fashion style among the younger generation in Vietnam, including the way they wear their make-up. Vietnamese females also put a lot of effort into taking care of their skin, therefore a skincare routine with multiple steps and products is rather common. Face care products, such as face masks and face cleaners, were the most used skincare products among female consumers and accounted for the largest skincare segment based on revenue in the country.

The future is online

Thanks to Vietnam’s digital-savvy population, the e-commerce sector has been expanding rapidly in recent years. Cosmetics has consistently been among the leading online shopping categories in the country, especially among urban consumers. The e-commerce value share of personal care products in urban areas of Vietnam grew more than double in during the COVID-19 pandemic compared to just a few years ago. As more and more people are comfortable shopping for these items online, brands have been tailoring their customer journey to meet the new demand for online services. For instance, virtual try-on services have recently become popular among beauty brands in Vietnam, providing consumers with an interactive product demonstration using augmented technologies. New digital innovations employed within the cosmetics market are expected to continuously improve the consumer journey with online shopping, helping e-commerce to overtake physical retail stores as the go-to destinations for beauty and personal care products in the near future.


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