Vietbeauty 2018: How Vietnam is giving Asia a cosmetics makeover

22-May-2018 - Last updated on 22-May-2018 at 12:17 GMT

A wide variety of products and services will be showcased at this year’s Vietnam-focused cosmetics and personal care event.

Taking place between 19-21 July 2018 at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, Vietnam, brands from all over the country, the wider region and the globe will be on display.

Event preview

Led by UBM Asia, the three-day show will feature inaugural hotspots, Cosme Zone and Derma Zone, indicating newly-launched and innovative items.

At the Nielsen Vietnam-hosted event, there will be a conference focusing on the topic of "What's Next in Beauty?" and panel discussion on beauty care and aesthetics field. Live demonstrations on hair, nails, and make up applications and techniques will also be held.

Emerging market

While other emerging markets’ FMCG growth slowed in 2017, the Southeast Asian country is leading growth in the APAC region at a rate of 6.7%, Nielsen Vietnam reports. In addition, Vietnam is also a primary destination for expanding businesses, particularly retailing.

In recent years, Vietnam has been tipped as a key expansion area. In 2017, ATKearney Global Retail Development Index found that Vietnam was one of the top six most attractive markets around the globe.

The Nielsen Future Business Sentiment Beauty Survey conducted in 2016, also highlighted the importance of Vietnam as it is one of Asia’s top three priority markets for companies with key growth potential.

Vietnamese consumer demands

The Vietnamese cosmetics industry is currently typified by new brand players entering the market, the middle class demographic and a preference for premium names. Locally, consumers are becoming more aware and familiar with beauty products and treatments.

As digital marketing is on the up, Vietnam's e-commerce industry is too. In Vietnam, brand origin is deemed more important than choice, price, function and quality, UBM Malaysia reported in a recent press release.

Market research and business intelligence provider, Statista, found that revenue in the cosmetics and personal care market in Vietnam is expected to reach $1,620 mn (€1,376 mn) in 2018. Vietnam’s largest segment is skin care, and in 2018, amounts to a market volume of $595 mn (€505 mn). The market is expected to grow annually by a compound annual growth rate (CAGR) of 8.6% between 2018-2021.