Vietnam's beauty and cosmetics market has been experiencing rapid growth in recent years, with a projected annual growth rate of 15-20% in the next decade. As the country's middle-class population continues to expand, Vietnamese consumers are increasingly investing in personal care and beauty products. In this article, we will explore the top trending beauty products in Vietnam for 2024 and highlight five local brands that are dominating the market.
Face Wash Products
According to a 2023 survey conducted in Vietnam, approximately 49.1% of respondents stated that they had purchased face wash products. This trend is expected to continue in 2024 as Vietnamese consumers prioritize cleanliness and skin health. Face wash products from brands like CO MEM Natural Cosmetics Jsc, which uses traditional Vietnamese herbs and modern science to develop safe and effective personal care products, are likely to be popular choices.
Facial Moisturizers
Facial moisturizers are another category of beauty products that are expected to be in high demand in Vietnam in 2024. The country's tropical climate and evolving beauty standards have led to an increased focus on skin hydration and protection. Major foreign brands like Nivea and Pond's, which have a strong presence in Vietnam, are likely to benefit from this trend.
Lipsticks
Lipsticks for women are among the most prominent beauty product imports in Vietnam. As social media and the Korean wave continue to influence beauty trends, Vietnamese consumers are expected to embrace bold lip colors and formulas in 2024. Domestic brands like Lana and Sao Thai Duong, which cater to the preferences of Vietnamese women, may see an increase in sales.
Men's Grooming Products
The growing demand for men's grooming products in Vietnam is another notable trend for 2024. As evolving beauty standards lead more Vietnamese men to pay attention to their appearance, brands that offer high-quality shaving and grooming products are likely to thrive. Foreign brands like Gillette and domestic brands like Thorakao, which focuses on affordable, lower-end products, may benefit from this trend.
Natural Cosmetics
The demand for natural and eco-friendly beauty products is on the rise in Vietnam. Brands like CO MEM Natural Cosmetics Jsc and Cocoon, which use locally sourced ingredients and emphasize sustainability, are expected to gain popularity in 2024. Vietnamese consumers are becoming more aware of the potential health and environmental benefits of natural cosmetics, making this a promising area for growth in the coming year.
Top 5 Trending Beauty Brands in Vietnam
CO MEM Natural Cosmetics Jsc
CO MEM is one of the most trusted Vietnamese natural cosmetics brands, offering 100% non-toxic, safe, and environmentally friendly products. The brand's use of local materials and cultural elements brings traditional value to its products.
Cocoon
Cocoon is a company of nature lovers who incorporate familiar Vietnamese ingredients into their 100% vegan and cruelty-free cosmetics. The brand is the first Vietnamese cosmetics brand to be approved by the Leaping Bunny program of Cruelty-Free International.
M.O.I
M.O.I is a popular beauty brand in Vietnam that offers high-quality, affordable products specifically designed for Vietnamese and Southeast Asian women. The brand aims to inspire a positive, active lifestyle for its target audience.
Thorakao
Thorakao is a domestic brand that focuses on affordable, lower-end products to compete with foreign brands. The brand's focus on price-conscious consumers makes it a popular choice among Vietnamese consumers.
Saigon Cosmetic
Saigon Cosmetic is another domestic brand that has gained some degree of reputation in the Vietnamese beauty market. The brand's products cater to the preferences of Vietnamese consumers and are available at various retail chains throughout the country.
Conclusion
Vietnam's beauty and cosmetics market is poised for continued growth in 2024, with face wash products, facial moisturizers, lipsticks, men's grooming products, and natural cosmetics expected to be among the top trending categories. Domestic brands like CO MEM Natural Cosmetics Jsc, Cocoon, M.O.I, Thorakao, and Saigon Cosmetic are leading the charge in meeting the evolving needs and preferences of Vietnamese consumers. As the country's middle class continues to expand and beauty standards continue to evolve, the opportunities for growth in Vietnam's beauty and cosmetics market remain strong.
