Unlocking Innovation: Key Active Ingredients Shaping Vietnam’s Beauty Market in 2024
Emerging Trends in Skin Barrier Care, Anti-Aging, and At-Home Dermal Treatments
October 2024 – In 2023, Vietnam’s beauty and personal care market continued to thrive, benefiting from the country’s economic recovery. The market is set for strong expansion, with an expected annual growth rate of 9.4% over the next five years. Beauty product sales are currently growing at 6.7%, with forecasts predicting a significant rise to 10.5% in the coming years, reflecting a robust consumer demand for innovative and effective products.
As the market evolves, three key trends are emerging. These include the rise of next-generation skin barrier actives like Ectoin, advancements in anti-aging solutions with retinol alternatives for sensitive skin, and the growing popularity of dermal-treatment-like actives that offer at-home alternatives to invasive procedures.
Key Trends in Next-gen Active Ingredients
1. Restoring Actives: Ectoin May Be the New Niacinamide
Ectoin, an amino acid derived from bacteria, is emerging as a powerful alternative to Niacinamide. It offers anti-inflammatory, antioxidant, and hydration-boosting benefits, making it ideal for skin barrier repair. In 2023, skincare launches featuring Ectoin surged by 42%, outpacing Niacinamide’s growth. Now found in serums, sunscreens, and lotions, Ectoin is quickly becoming a star ingredient in modern skincare.
2. Anti-aging Actives: Upgraded Retinol & Alternatives for Sensitive Skin
Traditional retinol is effective but often causes irritation and degrades over time. The market is shifting towards gentler, more stable options like encapsulated retinol, plant-based retinol, and retinoid alternatives. In 2023, global product launches featuring these alternatives grew by 34%, with retinoid alternatives seeing a 50% surge—reflecting their increasing popularity for sensitive skin solutions.
3. Dermo Care Actives: Dermal-treatment-like Actives
As demand for non-invasive anti-aging solutions rises, consumers are turning to at-home alternatives to cosmetic procedures like fillers and Botox. Actives mimicking dermal treatments, such as dermal-filler-like hyaluronic acid, Botox-like peptides, and micro-needling-like actives, are gaining traction. Global launches featuring these actives grew by 15% in 2023, reflecting the growing acceptance of these advanced skincare options.
Meiyume
At Meiyume, we leverage data and artificial intelligence to analyze emerging market trends, transforming insights into actionable strategies. This enables us to continuously adapt and innovate our product offerings, ensuring we meet the ever-evolving demands of the beauty industry. By staying ahead of trends, we empower beauty brands to remain at the forefront of innovation, helping them deliver cutting-edge products that resonate with consumers in today’s dynamic market. Contact us at marketing@meiyume.com to learn more about Meiyume’s full capabilities.