Vietnam’s latest skin care product market innovations, industry drivers and key events 2021-2027 – The Courier

Skin care involves the practice of improving the integrity of the skin, improving its appearance, and relieving skin conditions using skin care products. Skin care products are made from chemical compounds, herbal medicines, or natural ingredients. They are sold in various forms, including creams, lotions, serums, and face masks. According to AMR, the Vietnamese skin care products market was valued at $ 768.1 million in 2020 and is expected to reach $ 1,922.4 million by 2027, registering a CAGR of 11.7% from 2021 to 2027. The skin care products market presents an additional revenue opportunity of $ 1,154.25 million from 2020 to 2027.

The report presents the challenges facing Vietnamese market for skin care products which enables a better understanding of the market by providing a useful comprehensive assessment and clear dynamics associated with this market. The analyst studied the current market scenario while focusing on the new business goals with the lucrative opportunities available. This report includes the changes in customer requirements, customer preferences, and vendor landscape in the industry with key factors expected to influence the overall Vietnam Skin Care Products market dynamics, including the current trends, growth opportunities, constraints and market drivers.

The Vietnam Skin Care Products market report is an easy to understand document that gives section-wise details about the global market. Starting with a brief overview of the global market, it will present the overall assessed market statistics and different parameters for the forecast period (2021-2027). The report covers many aspects of the Vietnam Skin Care Products market divided into Product Type, Application, and End Use, offering the report to help customers to improve their ability to make precise decisions related to the activity of the Vietnamese skin care products market.

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South Korea holds the highest share in terms of cosmetics export to Vietnam, with 30% market share in the cosmetics market. Korean brands are constantly expanding in terms of customer base, mainly in the skin care product segments. About 90% of cosmetic products are imported from foreign brands such as Este Lauder, Lancôme, Shiseido, Fendi, Clairins and L’Oréal.

Prudent Markets interviewed key players in Vietnam’s skin care products including Este Lauder, Lancôme, Shiseido, Fendi, Clairins and L’Oréal, Thorakao, Saigon Cosmetic, Lana, Biona and Sao Thi Dng

Market segmentation by type:
cream, lotion and others.

Market segmentation by age group: Generation X, Millennial and Generation Z.

Market segmentation by sales channel:
supermarket / hypermarket, specialty stores, department stores, beauty salons, pharmacies and pharmacies and online sales channel.

The growth of the retail sector in Vietnam is driven by the growing middle class population in Southeast Asia. Its middle class population is expected to reach 33 million by the end of 2020 against 12 million in 2012, whose increasing wealth is driving market growth. In addition, the presence of millennials in Vietnam, with 40% of its population under 24 years of age. With a greater inclination towards digital technology, millennials are driving the expansion of the e-commerce market in Vietnam as they spend more time shopping on their digital devices than in physical stores.

This post-pandemic business planning research will help customers:
• Adjust their strategic planning to move forward once business stability is in place.
• Build resilience by making efficient resource and investment choices for individual business units, products and service lines.
• Conceptualize scenario-based planning to mitigate future crisis situations.

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In this study, the years considered to estimate the market size of the Vietnam Skin Care Products market:
Year of history: 2015 – 2020
Year of reference : 2020
Estimated year: 2021
Forecast year: 2021 – 2027

Get a full copy of the 225+ page research report (Inclusion of updated COVID-19 research) on the $ 1,500 US region and the $ 2,000 Europe region. Contact our sales team, who will guarantee you a report tailored to your needs.

Our skilled team of researchers, analysts and consultants use in-depth qualitative research, quantitative research and the latest recognized research techniques to deliver unparalleled level of detail and value to your research activities. Our business and competitive intelligence can be used by teams from multiple departments, including sales and business development, marketing, to:

• Access the latest information on competitors and potential customers through a comprehensive database
• Analyze the business strategies and collaborations of several companies within a specific market
• Identify new markets and regions for future expansion
• Compare financial trends between competing companies
• Know mergers and acquisitions
• Explore the strengths and weaknesses of cross-sector businesses
• Improve your business modeling

The historical data available in the report details the development of Vietnamese skin care products nationally, regionally and internationally. The Vietnam Skin Care Products market research report presents a detailed analysis based on in-depth research of the overall market especially on issues related to market size, growth scenario, potential opportunities , operational landscape, trend analysis and competitive analysis.

Reasons to buy the report:

• Improve your market research resources with this comprehensive and accurate report on the global Vietnam Skin Care Products Market.
• Get a comprehensive understanding of general market scenarios and future market situations to prepare you for challenges and ensure strong growth
• The report offers in-depth research and various trends of the global Vietnam Skin Care Products market.
• It provides a detailed analysis of changing market trends, current and future technologies used, and various strategies adopted by major players in the global Vietnam Skin Care Products market.
• It offers recommendations and guidance to new entrants in the global Vietnam Skin Care Products market and carefully guides established players for future market growth.
• Besides the most advanced technological advancements in the global Vietnam skin care products market, it highlights the plans of the dominant players in the industry.

(If you have any special requirement, please let us know and we will offer the report as you want.)

Educate yourself before purchasing the full report to grow your business:

In Conclusions, the Market Outlook section primarily encompasses the fundamental market dynamics, which includes the drivers, restraints, opportunities, and challenges facing the industry. Drivers and restraints are intrinsic factors while opportunities and challenges are extrinsic factors of the Vietnam skin care products market.

* Note: A comprehensive study compiled with over 225 pages, a list of tables and figures, profiling over 10 companies, is included in the report.

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