Vietnam’s beauty market 2026: Nearly USD 3 billion in revenue concentrated in three major e-commerce platforms

Revenue growth reached 23%, while volume growth stood at 9%, indicating that the growth momentum of the beauty and personal care industry is driven not only by higher sales volume but also by an increase in value per order.

The industry-wide average unit price (AUP) also rose by approximately 13%. Notably, official brand stores accounted for 64% of total revenue, concentrated in the VND 200,000–500,000 price segment. This suggests that value growth is being led by official stores and a rising trend in spending per product unit.

Higher price segments dominate categories such as facial cleansers, micellar water, sunscreen, toner, and men’s facial cleansers. Meanwhile, serums priced above VND 1 million and facial mists in the VND 500,000–1 million range account for 32%, reflecting a clear premiumization trend in more specialized product categories.

Price structures across product groups indicate that the facial skincare market is shifting toward higher price ranges, not only at the overall market level but also consistently across most subcategories.

At the same time, the market is witnessing a wave of seller consolidation. Despite increases in revenue and volume, the number of active stores in the sector has declined. In Q4 2025, the number of active shops dropped by 8% compared to the previous quarter and was 13% lower year-on-year.

According to Metric.vn, e-commerce platforms are increasingly becoming environments where only businesses with strong operational capabilities, investment in product and service quality, and brand-building strategies can achieve sustainable growth.

In terms of market size and revenue share across platforms, TikTok Shop emerged as the market leader in Q4 2025, capturing 50% market share with revenue of VND 7.7 trillion, up 27% quarter-on-quarter. Closely following is Shopee, whose market share declined to 48%. However, Shopee still recorded revenue of VND 7.39 trillion, increasing 21%. This narrow gap highlights the intensifying competition to maintain a leading platform position.

Meanwhile, Lazada generated revenue of less than VND 1 trillion, accounting for only 4% market share.

However, TikTok Shop’s leadership is not merely a matter of market share. According to Metric.vn, the market is entering a new phase of competition driven by the ability to create demand and shape consumer behavior, rather than relying solely on price promotions or search optimization as in the past.

Accordting to Tạp chí tri thức

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