Business Cosmetic Industry in Vietnam | ANT Consulting

1. Overview According to the figure of Nielsen in 2013, the annual turnover of the Vietnamese cosmetics market is around 15 trillion VND (US$704.2 million). The average per-capita spending was only $4 per person per year, compared with an average of $20 per person in Thailand. This indicates a huge potential for growth of this sector in Vietnam. According to a report from The Society of Cosmetics of Ho Chi Minh City, Vietnam has more than 400 cosmetics businesses, with 90% of the market share taken by foreign brands. Most of the popular domes…