PROSPECTS AND OPPORTUNITIES
Women will likely remain the key target audience for fragrances
Sales of fragrances in Vietnam are projected to continue delivering dynamic growth over the forecast period in value terms (at constant 2024 prices). Growth is set to be driven by rising incomes, higher living standards, and an increased focus on personal grooming.
Body mists and unisex fragrances well placed to respond to new market trends
Body mists is expected to be the most dynamic category in fragrances over the forecast period, albeit with growth coming from a low base. More global and local brands are expected to enter body mists, offering affordable, long-lasting, and everyday options that present an alternative to more expensive and heavier fragrances.
Local players could look to connect with consumers through local ingredients and cultural references
When it comes to strategies within fragrances, players are expected to make stronger use of storytelling and sensory driven marketing on TikTok to boost engagement. Instead of focusing solely on scent notes, brands will look to highlight how a perfume feels whether nostalgic, romantic, or empowering through POV style videos, or influencer storytelling.
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Overview:
Understand the latest market trends and future growth opportunities for the Fragrances 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 Fragrances 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.
The Fragrances in Vietnam report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Fragrances in Vietnam?
- Which are the leading brands in Vietnam?
- How are products distributed in Vietnam?
- To what extent is e-commerce changing the retail environment and consumer demand?
- How are sales of mass versus premium beauty products evolving?
- Which products are seeing rising demand in the wake of COVID-19?
- Why are changing lifestyles and consumer behaviour patterns stimulating growth of some categories but not others?
- How is the macroeconomic environment shaping demand?
- Where is future growth expected to be most dynamic?
Fragrances in Vietnam - Category analysis
KEY DATA FINDINGS
Fragrances thriving as more players enter the market and demand grows
Leading players make strong use of social media to drive sales and build customer engagement
Department stores remain the primary destination for fragrances
Women will likely remain the key target audience for fragrances
Body mists and unisex fragrances well placed to respond to new market trends
Local players could look to connect with consumers through local ingredients and cultural references
Beauty and Personal Care in Vietnam - Industry Overview
Beauty and personal care in 2024: The big picture
2024 key trends
Competitive landscape
Retail developments
What next for beauty and personal care ?
DISCLAIMER
The following categories and subcategories are included:
Fragrances
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- Premium Body Mists
- Premium Men's Fragrances
- Premium Women's Fragrances
- Premium Unisex Fragrances
- Premium Fragrance Sets/Kits
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- Mass Body Mists
- Mass Men's Fragrances
- Mass Women's Fragrances
- Mass Unisex Fragrances
- Mass Fragrance Sets/Kits
Fragrances
This is the aggregation of men's, women's and unisex mass and premium fragrances as well as fragrances sets/kits and body mists. The distinction between mass market and premium is normally price and label/positioning (mass fragrances rarely carry a designer label) and distribution. Also includes hair fragrances with a primary function of making hair smell good and not to be confused with hair oil and other styling/conditioning products with hair fragrances, whose primary function is to either condition or style over fragrance.
See all of our definitionsWhy buy this report?
- 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
This report originates from Passport, our Fragrances research and analysis database.
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