Tiếng Việt
한국어In the big municipalities – the main arena of enterprises in beauty industry, although international brands is head, but recent few years, already impress of trademark of Vietnam marketing as Co Mem,Cocoon, M.O.I.,Candid… However, it is right with skin care trading, for makeup trading( except lipstick) still few Vietnam enterprises explore.
However,we have to see on actual that steady of Cocoon or some of domestic brands other just peculiarities, the main of professional at current beauty trading still is famous in international. Even on the Hasaki web current have round 501 brands, but only 3 beauty Vietnam brands are Emmié by Happy Skin, Cocoon and M.O.I.
.In the analyze reporting that use of cosmetic in Vietnam (2022) released by Q&Me, Innisfree, Mac, Olay are the top 3 selected brands, after that is Pond’s, Ohui and The Faceshop. All are the famous brand international.
THE POSITION OF DOMESTIC ENTERPRISES IN THE VIETNAMESE BEAUTY MARKET
More than 20 years ago, in the period before 2000, Vietnam’s economy was not developed and the international trade industry was not developed, beauty or the use of cosmetics was not focused by the majority, or if so, only basic products such as skin cream, acne cream…
However, over the past decade, people’s incomes have been higher plus the influence of ‘beautiful is everything’ culture from China and Korea, the demand for beauty products, especially young Vietnamese has increased higher than ever.
According to statistics from Investment Newspaper, an average middle-class female consumer in Vietnam spends about 450,000 – 500,000 VND per month for makeup and skin care products. In the next 10 years, the cosmetic market in Vietnam will continue to maintain a growth momentum of about 15% – 20% per year. According to the aforementioned Q&Me Report, 93% of women aged 25-32 use skin care products regularly.
In particular, according to data from AMR Market Research Company, Vietnam’s skin care product market is estimated to reach a total value of about 850 million USD in 2019 and is expected to increase to 1,900 million USD by 2027 – corresponding to an average compound annual growth rate of about 11.7% in the period of 2021 – 2027.
Combined with the development of online sales channels and the weakness of the domestic cosmetic industry, the Vietnamese market is becoming a promised land for foreign cosmetic brands. According to statistics from the US Department of Commerce, currently about 93% of personal care products consumed in Vietnam are imported, with total import turnover recorded at about 950 million USD in 2019.
Therefore, Candid Skincare (Vietnamese brands Hannah Nguyen and Bui Ngoc Anh) to improve product reputation, they have come to Kolmar Korea for co-production. Kolmar Group is one of the world’s largest cosmetic manufacturers, outsourcing to major brands in the world such as Innisfree, AHC, Nature Republic, Maybeline, Lancome…
However, as we see, most Vietnamese brands that excel in the market mainly hit the mid-range skincare segment and have not paid attention to make-up. In all, only M.O.I and Lemonade Cosmetics specialize in makeup, while the other brands only have lipstick or a few primers and powders. The investment in product development for this group has not been focused and done until then.