From 2013 to 2023, Vietnam's export of hair preparations experienced fluctuations with significant growth periods. In 2013, the export value stood at $68.903 million. A decline occurred until 2015, followed by varying episodes of growth and decline, ultimately leading to a value of $71.482 million in 2023. The year-on-year variations for the recent two years, 2022 and 2023, were 3.32% and 3.51% respectively. The five-year CAGR from 2019 to 2023 averaged 3.73%. Moving forward, from 2024 to 2028, the forecasted five-year CAGR is projected at 2.22%, indicating a steady growth trend reaching $82.298 million in 2028.
Future Trends to Watch:
- Increasing global awareness and demand for natural and organic hair preparations.- Vietnam's potential expansion into new markets including the Middle East and Africa.- Continued technological advancements and innovations in hair care products.- Potential impact of regulatory changes and trade policies on export capacities.
