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Vietnam Skincare Market 2025: Market Size & Future Growth Outlook
As Vietnam’s beauty and skincare industry undergoes a rapid transformation, both local and global brands are eyeing this vibrant market for expansion. With projected skincare revenue expected to reach $862.45 million in 2025 and a healthy CAGR of 4.38%, the country presents a compelling opportunity—fueled by a rising middle class and strong interest from Gen Z and Millennial consumers.
A Market Dominated by Imports, but Changing Fast
In 2024, imported products dominate the skincare and cosmetics market, accounting for 90% of total sales. Korean brands lead the way with a 30% market share, followed by European brands at 23%. However, 2025 marks the beginning of a shift—one where consumer values, local pride, and digital behavior are reshaping the competitive landscape.
In 2025, we’re seeing a major shift in Vietnam’s cosmetics industry, especially when it comes to consumer awareness and behavior.
- Vegan skincare and eco-conscious buying behavior
- Minimalist skincare routines with multifunctional, hybrid products
- A growing support for local Vietnamese skincare brands known for natural ingredients and authentic storytelling
Understanding the Digital-First Beauty Consumer
While both Gen Z and Millennials are highly engaged digital consumers, their paths to purchase—and the motivations behind them—differ in telling ways.
According to an exclusive WeGrow network survey, both Gen Z and Millennials in Vietnam remain loyal to K-beauty, yet Gen Z is increasingly embracing homegrown Vietnamese brands. This shift is driven not just by product attributes, but also by how well these brands resonate culturally and emotionally.
Gen Z, especially those earning their own income, are highly trend-sensitive and heavily influenced by viral content and endorsements from KOLs and KOCs. In contrast, Millennials take a more deliberate approach. They tend to research ingredients, pricing, and long-term value, often factoring in overall health and wellness considerations. For Millennials, skincare is not just about appearance—it’s an extension of self-care and informed consumption.
This distinction highlights an important insight for brands: Gen Z demands cultural relevance and immediacy, while Millennials reward substance and credibility. Effective strategies must adapt not only to where each group spends their time, but also to how they think and what they value.
The Rise of TikTok Shop & Shoppertainment
Vietnam’s e-commerce boom is not just about convenience—it’s about content. In Q1 2025, TikTok Shop posted 113.8% growth in sales, driven by “shoppertainment”—the blend of engaging short-form video and seamless in-app purchasing.
While Shopee holds a 62% market share, TikTok Shop’s rapid ascent signals a new era where entertainment and shopping converge, particularly for beauty and skincare categories.
Winning the Gen Z Skincare Consumer: A Strategic Imperative
With Gen Z emerging as the most influential and trend-responsive segment, brands must meet them where they are—digitally and culturally.
To turn visibility into trust and ultimately drive sustained growth, brands must adopt a full-funnel approach—one that aligns content, creators, and commerce across every stage of the consumer journey.
- Influencer Marketing: Combines strategically different types of influencers at different stage of growing brand awareness and growing sales
- Affiliate Creators: Build a sustainable pipeline of advocates driving long-term ROI.
- Consistent livestreaming—through daily sessions and influencer-led broadcasts—helps build consumer awareness and creates a sense of urgency and FOMO.
- Unified Digital Funnel: Seamlessly connect the journey from discovery (TikTok/Meta), to conversion (Shopee/TikTok Shop), to loyalty (Meta + branded communities).
To succeed in Vietnam’s skincare market, brands need to be quick and smart in how they use digital tools, stay culturally relevant, and focus on content-driven selling. TikTok is great for getting noticed and going viral, but Facebook and other Meta platforms are still important for building trust and lasting brand relationships.
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