Market Insights Consumer Beauty & Personal Care

Skin Care - Vietnam

Vietnam

The Skin Care market in Vietnam is projected to generate a revenue of US$800.80m in 2024.
It is expected to witness an annual growth rate of 3.34% (CAGR 2024-2029).
In comparison to the global market, in the United States leads with a revenue of US$24,350m in 2024.
On a per person basis, Vietnam's Skin Care market is estimated to generate US$8.05 in revenue in 2024.
Additionally, [maxNon-LuxuryRevenueShare] are expected to account for [max[maxNon-LuxuryRevenueShare]RevenueShareValue] of the total sales in the Skin Care market by 2024.
Vietnam's growing middle class is driving a surge in demand for natural and organic skincare products.

Key regions: United Arab Emirates, Malaysia, United Kingdom, South Korea, Indonesia

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Methodology

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.