Market Insights Consumer Beauty & Personal Care

Fragrances - Vietnam

Vietnam

In 2024, the Fragrances market in Vietnam is projected to generate a revenue of US$108.10m.
This market segment is expected to experience an annual growth rate of 0.60% (CAGR 2024-2029).
When comparing in Vietnam to other countries globally, in the United States stands as the leader in Fragrances market revenue, with an estimated US$8,862m in 2024.
In terms of per capita figures, each person in Vietnam is anticipated to generate a revenue of US$1.09 in 2024.
Furthermore, it is expected that 58% of the sales in the Fragrances market in Vietnam by 2024 will be attributed to Non-Luxury.
Vietnam's growing middle class is fueling the demand for luxury fragrances, with international brands expanding their presence in the market.

Key regions: Malaysia, Worldwide, United Arab Emirates, United Kingdom, Indonesia

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Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.