Vietnam' s cosmetic' s sector is rapidly evolving. The growing number of middle-class in the country has driven the expansion of the cosmetic market evidenced by increasing demand for personal care and beauty products.
This new trend has definitely attracted a wide range of local and foreign players into the Vietnamese cosmetic market. A report from Nielsen has shown that the Vietnamese cosmetics market has an annual turnover of VND 15 trillion (approximately US$ 704.2 million).
The average per-capita spending on cosmetics in Vietnam is US$4/person annually. Comparing this with neighbors Thailand (US$20/person annually) underlines the high ceiling and excellent potential of Vietnam’s underdeveloped cosmetics sector.