Jan 29, 2012 / 17:45

Vietnam cosmetic market sees fast growth: expert

The Hanoitimes - lthough Vietnam just occupies 5 percent of the cosmetic market in Asean region, it has been quietly growing as it was o­nly 3% a few years ago, Alain Khaiat, Vice President of the ASEAN Cosmetic Association, told in an interview.

The Hanoitimes - lthough Vietnam just occupies 5 percent of the cosmetic market in Asean region, it has been quietly growing as it was o­nly 3% a few years ago, Alain Khaiat, Vice President of the ASEAN Cosmetic Association, told in an interview.


Thailand is the leadership of this market with 30%, followed by Singapore with 9 percent while Brunei, Cambodia, Laos and Myanmar are smaller, Alain, who is also President of the Cosmetic Toiletries and Fragrance Association of Singapore (CTFAS), stated during a conference held in Bangkok o­n Tuesday.

Singapore is 7% down from 9% a few years ago. This is normal as Singapore is a well developed country, with high purchasing power.

However, the expert expected that Vietnam would be as big as Singapore in 2015.

Vietnam market has been growing quite fast in the last few years. As the economy continues to grow more people will be able to afford more products,” he said.

Nevertheless, Alain also pointed out some problems that could hinder Vietnam from developing cosmetic products.

“One thing hurting in Vietnam is that there are too many fake products. The government has to be tough o­n those making or selling fake products and the public has to be educated not to buy these,” he warned.

According to him, ASEAN now occupies a very small proportion of global natural & organic market, but it is growing with the economic development and the concern about environment.

“It would also be beneficial for farmers in Vietnam to develop organic farms,” he judged.

US is the biggest market in this field, followed by Germany, France, Italy and UK.

As the market for beauty food is growing rapidly in the world, Thailand, the leadership of this field in Asean region, will organize the two exhibitions Bio Beauty and BioFit (BeFit) and Health Food & Ingredient Thailand 2012 from March 29 to April 1 in Bangkok to promote Asean as the center of health food, beauty wellness, fitness, anti-aging and rejuvenation products and service.

“In total we expect 200 exhibitors from Thailand, Philippines, Indonesia, Philippines, Malaysia and Vietnam, 150 of which from health foods and organic foods, 50 from natural and organic beauty products and herbal medicine and drinks,” said the organizers.

Health Food & Ingredient Thailand 2012 is in its second year, while BioBeauty & BioFit is held for first time this year.

The numbers of visitors are expected to increase from 24,000 last year to 30,000 this year.

Overseas and Asean visitors are also believed to surge from 1,600 last year to around 2,200 this year.