Ho Chi Minh Times

Saturday, May 04, 2024

Vietnamese Brands Thrive in Global Cross-Border Beauty Market

Growing Gender Equality Sparks Demand for Women-Centric Products
Cross-border beauty and personal care represent a significant market opportunity for Vietnamese companies as gender equality awareness grows globally.

This shift has led to a surge in products catering to women's multifaceted needs, encompassing work, household responsibilities, and personal interests. Factors like rapid urbanization, busy lifestyles, and rising purchasing power have fueled the popularity of women's products sold through online channels.

According to McKinsey and Company, e-commerce is expected to continue as the fastest-growing sales channel for beauty products. The global market for beauty and personal care e-commerce alone is estimated at around US$119 billion, projected to reach $184 billion by 2028.

Vietnam has emerged as a key player in this market. Last year, beauty became one of the top five best-selling categories from Vietnamese sellers on Amazon globally. Apparel has also maintained its position in the top-selling list for the past three years.

Vietnamese brands leverage the country's strengths, including craftsmanship and abundant natural resources like turmeric, coconut, and aloe vera, known for their skincare properties. Abera, a Vietnamese beauty brand, has gained consumer trust on Amazon with its range of gentle skincare products for women, focusing on specialized treatment solutions tailored to specific market gaps.

These trends highlight the success of Vietnamese brands in the global beauty market, showcasing their innovation and ability to meet evolving consumer needs.
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