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|A workshop titled “Growing the Natural & Organic Cosmetics Market’s Potential in Vietnam” to introduce Mekong Beauty Show 2018|
Sustainability has become a hot topic within the beauty industry over the past few years, but 2017 has seen several brands make huge strides towards adopting a more environmentally and ethically conscientious approach towards cosmetics. The market believes natural beauty products are set to become a major trend in 2018.
Claudia Bonfiglioli, international director of Informa Beauty, said: “Young consumers are even more aggressive in looking for harmless organic beauty. As a country rich in natural ingredients, Vietnam has major potential in the natural and organic cosmetics market, either in development or consumption.”
The demand for beauty products in Vietnam is indeed huge. A recent survey found that Vietnamese people—men and women—spend about $4 per person per year on cosmetics. Vietnamese women, meanwhile, spend an average of VND140,000 ($6.15) each month, with the two most common sources in locating information being friends (70 per cent) and websites (58 per cent).
The import value of cosmetics in 2011 was only $500 million, but quadrupled by 2016, according to data from the International Trade Center (ITC) and the World Bank (WB).
In this context, Mekong Beauty Show 2018 will feature over 200 exhibitors with several brands from South Korea, Japan, Europe, Taiwan, Thailand, Singapore, and other countries. There is also a new special area for companies dedicated to eco-friendly, clean, organic, and natural beauty products.
This new section will feature companies that showcase novel ideas in the increasingly environmentally-conscious market, covering both the retail and spa distribution markets and including small niche brands, as well as ever-growing power brands.
Mekong Beauty Show promises to be the great hub to network and develop new contacts in the natural and organic beauty industry for Vietnam, Cambodia, and neighbouring countries. The first edition of Mekong Beauty Show was launched by Informa in collaboration with KINTEX in 2017. It was a huge success with more than 200 international and local exhibitors. During the three day event, total visits to the show reached 7,320.