Vietnam’s cosmetics market booms: imports double to US$6 billion in 2017

Vietnam’s cosmetics market booms: imports double to US$6 billion in 2017

Vietnam’s cosmetics market has enjoyed stellar growth in recent years, with an average increase of 30 percent per year, according to figures released by the Vietnam Essential Oils, Aromatherapy and Cosmetics Association as reported by Vietnam.net.

The majority of that growth comes from imports, with cosmetics bought into the country hitting a value of US$6 billion in 2017, double that in the previous year, while exports were valued at just US$500 million.

Brands from South Korea, Japan and Europe are among the most popular, their presence boosted by tariff cuts designed to make the market more appealing to foreign brands. While per capita spend is still low compared to neighboring countries, consumers are increasingly adopting skin care routines and investing in products, particularly those boasting natural and organic ingredients.   

Leave a reply

Your email address will not be published. Required fields are marked *