Unlocking $119 Billion Opportunity in Global Beauty & Personal Care Market

11:44:00 AM | 4/1/2024

There are increasing demands and requirements for women-related products to tailor to their lifestyle and needs globally. Also, women-product consumption is under a rising track which are expanded more on online purchasing channels.

Vast ocean of opportunities from the global appetite for women-related products

According to Jungle Scout Q4 2023 report, US users increased their spending on groceries, clothing, vitamin & dietary supplement, and beauty & personal care products.

Moreover, Amazon’s Global Consumer Trends and Purchasing Behavior Vol.2 2023 data indicates a strong inclination among Japanese women towards household products that streamline and simplify domestic chores. This includes the preference for smart washing machines, dryers, portable vacuum cleaners, and sweeping robots, reflecting a desire for convenience and efficiency in managing household tasks. Additionally, Japanese women seek innovative solutions in the realm of beauty and styling, including revolutionary products like astonishing creams, quick-drying hair dryers, and easy-to-use hair dyes. These innovations not only save time and energy but also enhance their quality of life and boost self-confidence.

In Vietnam, for the first time, Beauty has emerged as one of the top five best-selling categories from Vietnamese selling partners on Amazon globally in 2023. Meanwhile, Apparel has maintained its position in the top-selling list from Vietnamese sellers on Amazon for the latest three years, highlighting the consistent demand for fashion items tailored to women's preferences.

The rise of “SHE” empowerment, coupled with modern lifestyles, has propelled the online sales of women's products due to availability, convenience, product variety, and attractive promotions. By understanding and catering to the evolving needs and aspirations of women, businesses can plug into this expanding market segment and drive sustainable success in the global marketplace.

Eco-friendly, joyful multitasking, gender neutral, on-the-go: rising trends for women-related products

Amazon’s Global Consumer Trends and Purchasing Behavior handbook Vol 1 2023 pointed out that “The rise of SHE power” is a trend that most businesses and organizations advocate and promote. Women consumers seek fair treatment. Limited and basic products are not enough; they choose brands that advocate female empowerment and purchase personalized products tailored to their body type, age, or lifestage. Products for women cover many categories, including Beauty & Personal Care, Fashion, Home & Kitchen, Mom & Baby supplies, etc. There are some rising trends in terms of functionality and design style for these product categories that manufacturers and sellers around the world need to pay attention and promptly apply to win global female customers.

Beauty secrets from nature

Amazon's Product Opportunity Explorer underscores the enduring allure of Beauty and Personal Care products on their online stores. Consumers globally are increasingly turning to online channels to discover and purchase a diverse array of skincare items, hair care solutions, nail polish, and beauty appliances.

Especially, the surge in popularity of natural and organic cosmetics has been remarkable in recent years. The global market for natural and organic cosmetics is projected to rise to reach $15.7 billion by 2025, indicating a sustantial anticipated demand, according to Statista. In the United States, skincare products dominate the natural and organic beauty market, constituting over 40 percent of sales. In Europe, influenced by environmental concerns and a desire to reconnect with traditional values like heritage and solidarity, there is a growing preference for locally sourced product.

There has been a remarkable rise of natural and organic beauty product market in recent years.

Korean ginseng, green tea extract, coconut oil, aloe vera, shea butter, or turmeric from Vietnam, and whose effectiveness has been scientifically proven, are widely used ingredients by beauty & personal care producers. Manufacturers, brand owners, and entrepreneurs should quickly grasp and capitalize on this demand to invest their portfolio.

“Joyful Multitasking” products or smart parenting supplies

Balancing careers, household responsibilities, and personal well-being can leave women feeling drained both physically and mentally. This explains why they increasingly turn to smart solutions such as wireless smartphone chargers, ergonomic office chairs, smart washing machines, and vacuum robots, to streamline their lives and boost overall wellness.

In addition to managing their own needs, women are keenly focus on providing the best for their family, especially when it comes to parenting & children’s supplies. The Mom & Baby section on Amazon attracts discerning consumers seeking top-notch childcare products and educational toys. This trend has seen the success of numerous international sellers, including Chippi&Co from Vietnam. Founded by three dynamic women, each a young and energetic mother, the brand epitomizes the fusion of entrepreneurial spirit and maternal instincts. Specializing in essential items and toys for children, their products, such as stuffed animals, crocheted toys, and dolls, are handcrafted using safe materials from Vietnam, ensuring moms around the world can be worry-free about their children’s usage safety. With a dedication to production excellence and innovative design, Chippi&Co experienced a remarkable multiple times growth with global selling on Amazon by the end of 2022 compared to the previous year, solidifying its status as a rising star in the global market.

Made-in-Vietnam educational wooden and handicraft toys from Chippi&Co has been loved and purchased by smart modern moms around the world.

Gender-neutral wardrobe crossing office to outdoor adventures and vacation escapes

In anticipation of a significant resurgence in travel, consumers are eagerly preparing for adventures unseen since the pandemic era. As they embrace healthier lifestyles, there's a notable surge in demand for outdoor clothing and "gorpcore". The year 2024 is poised to bring about an array of lifestyle collections from outdoor brands, alongside a fushion trend where technical functionality seamlessly meets style in the realm of fashion.

After pandemic, women worldwide embrace the healthier lifestyles, thus surging the demand for outdoor, sporty, on-the-go clothing.

Beyond traditional office or casual attire, women's clothing is witnessing a growing appetite for sporty, on-the-go, and relaxation-focused products such as sports bras, swimsuits, and recovery sandals. The growing desire for healing and relaxation fuels the rise of escape-the-city or on-the-go trends across Beauty & Personal Care and apparel categories as well.

Besides, according to Amazon’s Global Consumer Trends and Purchasing Behavior handbook Vol.2, American consumers are boldly challenging traditional gender norms, acknowledging that gender represents only a fraction of individual values and characteristics. This shifting perspective is fostering a preference for gender-neutral products and services, paving the way for unisex clothing and even children's toys to gain momentum in the market.

Harnessing local strengths for global success

According to Amazon’s Vietnam’s SMEs Empowerment Report 2023, in the trail of 12 months ending August 31, Vietnamese selling partners sold more than 17 million products on Amazon, experiencing a collective growth of more than 50% year-over-year in export value growth through selling on Amazon, demonstrating the opportunity Amazon unlocks for small businesses across the country.

The most exported and sold categories from Vietnamese selling partners in Amazon’s store in 2023 were: Home, Kitchen, Health & Personal Care, Apparel, and Beauty. This list reaffirms Vietnam’s extensive experience in producing and exporting key goods including furniture, handcrafted home decor, and garments. This year, the ongoing emergence of Health & Personal Care and Beauty, which have been rapidly growing in recent years, broadened the picture of flourishing online exports and strengthened the supply role of Vietnam in women-related products for female customers around the world.

The attainment of these figures owes much to Vietnamese brands & businesses leveraging Vietnam's distinctive strengths. The textile and garment industry in Vietnam, characterized by craftsmanship, innovation, and cultural heritage, exemplifies the nation's ability to capitalize on global trends. The Beauty & Personal care manufacturing industry leveraged the country's abundant natural resources, such as turmeric, coconut, aloe vera, rice, and locust, known for their anti-inflammatory, moisturizing, and antimicrobial properties, positioning Vietnam as an emmerging supply chain in the beauty and personal care industry, and thus setting the launchpad for V-beauty in the global market.

Utilizing natural ingredients such as tumeric, coffee, Abera – a Vietnam beauty brand achieved million-dollar revenue in less than a year on Amazon.

Abera, a Vietnamese beauty brand founded by men, has successfully earned consumers' trust on Amazon with its range of gentle skincare products for women. By focusing on specialized treatment solutions instead of multi-purpose ones, Abera targets specific market gaps and leverages natural resources to craft high-demand products. They utilize natural Vietnam-originated ingredients and tailor solutions for customers' skin, hair, and oral care needs. A flagship product for Abera in its strategic move to capture the U.S. market is the Abera Misan Eyelash Growth Serum. Made from extracts of red ginseng, three-leaf grass, and aloe vera, this eyelash growth serum helps users achieve long, thick, and healthy lashes. Other specialized products, such as the red turmeric scar removal cream, and red turmeric dark spot serum have gained recognition in the global market with a 4.5/5 rating and numerous positive reviews on the Amazon store.

T.H (Vietnam Business Forum)