Vietnam’s cosmetics market is worth $2.3 billion, but domestic companies pocket only 10 percent of the value. Analysts say Vietnam’s cosmetics market is relatively small compared with other markets. However, it has been growing very rapidly and is worth investing in. Vietnam is relatively small compared with other markets International experts predict that the middle-class population in Vietnam will reach 33 million by 2020. Mintel, a market analysis firm, estimated that Vietnam’s cosmetics market has the value of $2.3 billion this year. The domestic market is controlled by foreign names with 90 percent of market share. South Korea is the leading cosmetics supplier in Asia, including Vietnam. The country’s success in exporting cultural value is behind its success in the cosmetics industry, especially after South Korea signed an FTA with Vietnam in 2015. A report from the HCMC Cosmetics Association showed that 30 percent of revenue from cosmetics in … [Read more...] about How big is Vietnam’s cosmetics market?