The export of Essential Oils, Perfumes, Cosmetics, and Toiletries from Vietnam has demonstrated variability over recent years. Beginning in 2013 at 243.43 million USD, the figure saw fluctuations but maintained an overall upward trend. This progression marked a notable peak in 2021 with a significant year-on-year growth of 9.83%, leading to 376.93 million USD. By 2023, the value stood at 407.36 million USD, reflecting a consistent increase with a 3.84% year-on-year growth. The compound annual growth rate (CAGR) over the past five years stabilized at 4.37% indicating gradual but steady growth.
Projections from 2024 to 2028 indicate a continued increase, reaching 486.02 million USD by 2028. The forecasted 5-year CAGR is projected at 2.77% with an overall growth rate of 14.66%, suggesting sustained albeit slower growth than previous years.
Trends to watch for in the future include:
- Shifts in global demand for natural and organic cosmetics which could drive higher exports.
- Impact of trade policies and agreements, particularly in emerging markets.
- Technological advancements and innovation in product development.
- Global economic conditions and their influence on consumer spending habits.