The Rise of Vietnam's Beauty Industry-Driven by Demographics and E-commerce Channels
2025-01-09
In terms of demographic structure, for Vietnam's beauty industry, the country is currently in a population golden age.
By 2023, women make up 50.1% of the total population of 100.3 million, with women aged between 15 and 59 accounting for 62.2%.
Additional data shows that from 2018 to 2022, the proportion of women using beauty products increased from 76% to 86%, and it is expected to continue growing in the coming years.
A report from Statista predicts that the Vietnamese cosmetics industry revenue will reach $2.66 billion in 2024.
Secondly, the high e-commerce penetration rate and the considerable growth in consumption among young people are noteworthy.
In the beauty industry, the e-commerce channel accounts for 20.2% in Vietnam, and it is expected to increase to 24% by 2027.
The development of live streaming and omnichannel sales can further raise this proportion.
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