Market Insights Consumer Beauty & Personal Care

Cosmetics - Vietnam

Vietnam

In 2024, the revenue in the Cosmetics market in Vietnam is projected to reach €506.50m.
It is anticipated that the market will experience an annual growth rate of 3.16% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in the Cosmetics market, with a projected revenue of €18,660m in 2024.
In terms of per capita revenue, each person in Vietnam is expected to generate €5.09 in 2024.
Furthermore, it is estimated that 81% of sales in the Cosmetics market in Vietnam will be attributed to Non-Luxury by 2024.
Vietnam's cosmetics market is experiencing a surge in demand for natural and organic products, driven by increasing consumer awareness and preference for sustainable and eco-friendly options.

Key regions: Malaysia, Singapore, Worldwide, Indonesia, India

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Methodology

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, regression analysis and Monte Carlo simulations are particularly suited for forecasting in the Home and Laundry Care market, due to the unpredictable variability and complex dynamics in consumer behavior and product adoption. The main drivers are GDP and consumer spending.