Tiếng việt
ไทยVietnam’s beauty and personal care market reached VND98.3 trillion in 2025, posting a strong 8% current value growth. Vietnamese consumers spent nearly US$3 billion on beauty products across e-commerce platforms alone—a sharp rise of about 30% from the previous year. This explosive growth presents a massive opportunity, but it also means fiercer competition than ever before. With the number of active beauty shops declining while revenue rises, the market is consolidating: only brands with strong operational capacity, product quality, and sustained brand-building are positioned to succeed.
If you want your beauty brand to thrive in this dynamic environment, you need to know exactly where you stand. Benchmarking against competitors is no longer optional—it’s essential survival intel.
Why Benchmarking Matters for Beauty Brands in Vietnam
The Vietnamese beauty market is characterised by a fascinating paradox: while the market is dominated by international players holding approximately 93% of market share, consumers are increasingly turning to local brands that emphasise transparency, locally sourced ingredients, and dermatological testing.
This creates a dual competitive landscape where you’re competing against both established global giants and agile local upstarts.
Consumer behaviour is also shifting rapidly. Social media and e-commerce platforms, particularly TikTok Shop and Shopee, are dictating trends and shaping purchasing decisions. Consumers are becoming more informed, demanding products with proven efficacy, ingredient transparency, and suitability for the local climate. They’re also actively comparing prices across platforms and waiting for mega sales events.
This environment requires a data-driven approach to understand your competitive position and identify strategic opportunities.
Key Market Segments to Benchmark
Before diving into competitor analysis, it’s crucial to understand the distinct segments shaping Vietnam’s beauty market:
Mass Beauty vs. Premium Beauty
Sales of mass beauty and personal care saw strong growth in 2024, driven by rising household income, improved living standards, and rapid urbanisation . However, premium beauty is also experiencing robust growth fuelled by an expanding middle- and upper-class consumer base increasingly prioritising self-care and dermatologist-backed products .
When benchmarking, you need to understand which segment your brand occupies and how competitors in that segment are performing.
Key Product Categories
The market spans multiple categories, including:
Skin Care Products
Hair Care Products
Makeup Products
Fragrances
Food & Nutrition Products
Skin care remains a standout category, with consumers adopting sophisticated routines (often double to triple cleansing) and driving growth in facial cleansers . Colour cosmetics are also fuelling growth through social media and e-commerce channels .
Distribution Channels
Understanding competitor distribution strategies is vital. Key channels include:
Supermarkets & Hypermarkets
Specialty Stores (like Hasaki’s Experience Store)
Online Channels (TikTok Shop, Shopee, Lazada)
E-commerce continues to outpace store-based retail, with many Vietnamese consumers preferring to buy beauty products online.
How to Benchmark Your Competitors: A Step-by-Step Framework
1. Identify Your Competitive Set
Begin by identifying who you’re actually competing against. In Vietnam’s beauty market, your competitors likely fall into three categories:
Global Giants: Multinational corporations like L’Oréal have been increasing their market share. In 2024, L’Oréal overtook Unilever as the market leader in mass beauty and personal care, thanks to ongoing investment in the market .
Established Regional Players: Regional distributors like LUXASIA maintain significant presence with premium brand portfolios .
Emerging Local Brands: Vietnamese brands like Cocoon are gaining traction by leveraging locally sourced ingredients and sustainable packaging, building consumer trust through innovation and transparency.
2. Analyse Market Share and Brand Performance
Euromonitor International provides comprehensive data on company shares and brand shares in the Vietnamese beauty market, including:
GBO Company Shares (Global Brand Owner)
NBO Company Shares (National Brand Owner)
LBN Brand Shares (Local Brand Network)
These datasets allow you to see which players are gaining or losing ground across categories and segments.
3. Evaluate Distribution and E-Commerce Strategies
E-commerce has fundamentally reshaped the competitive landscape. TikTok Shop emerged as the market leader in Q4 2025, capturing approximately 50% of total e-commerce sales, followed closely by Shopee with 48%
When benchmarking, examine:
Which platforms your competitors prioritise
Whether they operate official brand stores (official stores accounted for 64% of e-commerce revenue)
Their pricing strategies across platforms (average prices increased by 13%, suggesting consumers are trading up)
How they leverage livestream shopping and KOL endorsements
4. Assess Digital Marketing and Social Commerce Capabilities
With social media shaking up the competitive landscape, you need to evaluate how competitors are using digital channels
KOL and Influencer Partnerships: Endorsements from key opinion leaders (KOLs) continue to shape purchasing decisions . Which influencers are your competitors working with? What’s the engagement quality?
Content Strategy: The ability to generate demand and influence consumer behaviour through engaging content is now more critical than price promotions or search optimisation alone .
Livestream Shopping: Platforms like TikTok Shop have made livestream shopping central to their value proposition
5. Benchmark Product Portfolio and Innovation
Consumers in Vietnam are increasingly demanding products that offer:
Proven efficacy: Dermatologist-backed formulations and clinical testing
Ingredient transparency: Clear communication about what’s in products
Climate suitability: Products that perform well in Vietnam’s tropical climate
Multifunctionality: Efficiency and effectiveness driving innovation
When benchmarking your product portfolio, compare how competitors are addressing these demands. Local brands are particularly notable for focusing on innovation and dermatological testing to build consumer trust.
6. Analyse Customer Experience and Distribution Innovation
Health and beauty specialist retailers are embracing creative solutions to retain customers—particularly the rising generation of tech-savvy shoppers . Hasaki’s launch of its first “Experience Store” in Vũng Tàu in 2024 demonstrates how physical retail is evolving to deliver unique, memorable in-store experiences.
Consider whether your competitors are:
Opening experiential retail spaces
Offering personalised services
Integrating online and offline experiences
Key Competitive Trends to Watch
The Rise of Local Brands
Domestic cosmetic producers currently account for only about 10% of market share . However, local brands full of promise are attracting consumers through locally sourced ingredients and sustainable packaging . As consumer trust in homegrown brands increases, this segment represents a growing competitive threat—and opportunity.
Personalisation as a Value-Added Strategy
Personalisation presents a new way to add value, particularly in the premium segment . Benchmark how competitors are approaching personalisation, whether through diagnostic tools, custom formulations, or tailored recommendations.
E-Commerce as a Growth Engine
E-commerce and digital marketing will be key to success going forward . The platforms that can generate demand and shape consumer behaviour—rather than simply relying on price promotions—will have a competitive advantage .
Category-Specific Dynamics
Each category has its own dynamics:
Skin care: Consumers are becoming more knowledgeable, adopting sophisticated routines
Color cosmetics: Strong social media influence
Fragrances: Premium segment growing as incomes rise
Hair care: E-commerce driving accessibility
Suggested FAQs
Q: Which brands currently lead the Vietnamese beauty market?
A: L’Oréal overtook Unilever as the leading company in mass beauty and personal care in 2024, thanks to ongoing investment in the market . International brands collectively dominate with approximately 93% market share, while local brands like Cocoon are gaining traction through innovation and locally sourced ingredients .
Q: How important is e-commerce for beauty brands in Vietnam?
A: Vietnamese consumers spent nearly US$3 billion on beauty products through e-commerce in 2025 . TikTok Shop and Shopee together accounted for approximately 98% of e-commerce beauty sales in Q4 2025 . Success increasingly depends on demand generation and consumer behaviour influence rather than price promotions alone
Q: What distribution channels should beauty brands prioritise?
A: E-commerce is critical, with online channels continuing to outpace store-based retail . However, innovative physical retail—like Hasaki’s Experience Store—can deliver unique, memorable experiences that build brand loyalty . A multi-channel approach that integrates online and offline is increasingly essential.
Q: What product categories are growing fastest in Vietnam?
A: Skin care continues to thrive, driven by consumers adopting sophisticated routines and seeking products with proven efficacy . Colour cosmetics are also growing strongly, fuelled by social media influence and e-commerce accessibility . The premium segment is expanding as disposable incomes rise
