PROSPECTS AND OPPORTUNITIES
Bright outlook for the premium segment as consumer incomes rise
Sales of premium beauty and personal care are projected to see dynamic growth in value terms (at constant 2024 prices) over the forecast period. This growth is expected to be fuelled by rising disposable incomes which should enable more consumers to trade up to premium brands.
E-commerce set to retain a key role in driving sales and dictating trends
Premium brands are aggressively expanding their presence on e-commerce platforms, leveraging daily livestreams to engage with consumers, highlight product benefits, and provide real-time consultations. To attract and excite buyers, they frequently offer mini-sized gifts with purchases, allowing consumers to experience the product before committing to full-size versions.
Personalisation presents a new way to add value
Personalisation is expected to become a prominent trend across premium beauty and personal care over the forecast period, with AI and other new technology opening doors to manufacturers to tailor their products and marketing to the needs of specific groups or individuals. For instance, personalised packaging, featuring local place names or customised consumer names for gifting, has become highly attractive to young consumers in the premium beauty and personal care market.
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Overview:
Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal 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 Premium Beauty and Personal 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.
The Premium Beauty and Personal Care 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 Premium Beauty and Personal Care 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?
Premium Beauty and Personal Care in Vietnam - Category analysis
KEY DATA FINDINGS
Improving economy encourages spending on premium products
L'Oréal increases its lead thanks to ongoing investment in the market
Savvy shoppers use e-commerce to secure the best deals
Bright outlook for the premium segment as consumer incomes rise
E-commerce set to retain a key role in driving sales and dictating trends
Personalisation presents a new way to add value
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:
Premium Beauty and Personal Care
- Premium Baby and Child-specific Products
- Premium Bath and Shower
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- Premium Eye Liner/Pencil
- Premium Eye Shadow
- Premium Mascara
- Premium Other Lash and Brow Make-Up
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- Premium BB/CC Creams
- Premium Blusher/Bronzer/Highlighter
- Premium Foundation/Concealer
- Premium Powder
- Premium Other Facial Make-Up
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- Premium Lip Gloss
- Premium Lip Liner/Pencil
- Premium Lipstick
- Premium Other Lip Products
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- Premium Nail Polish
- Premium Nail Treatments/Strengthener
- Premium Polish Remover
- Premium Other Nail Products
- Premium Colour Cosmetics Sets/Kits
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- Premium Deodorants
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- Premium Body Mists
- Premium Men's Fragrances
- Premium Women's Fragrances
- Premium Unisex Fragrances
- Premium Fragrance Sets/Kits
- Premium Hair Care
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- Premium Firming Body Care
- Premium General Purpose Body Care
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- Premium Acne Treatments
- Premium Face Masks
- Premium Facial Cleansing Wipes
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- Premium Basic Moisturisers
- Premium Anti-Agers
- Premium Lip Care
- Premium Liquid/Cream/Gel/Bar Cleansers
- Premium Toners
- Premium Hand Care
- Premium Skin Care Sets/Kits
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- Premium Aftersun
- Premium Self-Tanning
- Premium Sun Protection
Premium Beauty and Personal Care
This is the aggregation of premium colour cosmetics, fragrances, deodorants, skin care, sun care, baby and child-specific products, bath and shower and hair care.
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 Premium Beauty and Personal Care research and analysis database.
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