The import of perfumes and toilet waters to Vietnam showed a robust upward trend from 2013 to 2023, surging from $5.9752 million to $12.409 million. The growth was particularly significant from 2016 onward, peaking in 2017 with a 57.2% year-on-year increase. Although there was a slight dip in 2018, the value continued to rise steadily. The average Compound Annual Growth Rate (CAGR) for the last five years ending in 2023 stood at 4.08%.
In 2023, the import value was $12.409 million, reflecting a 3.61% growth from the previous year. Forecasts indicate the growth will persist, with imports expected to reach $14.667 million by 2028. The projected five-year CAGR from 2023 to 2028 is 2.63%, suggesting a moderate but stable increase.
Future trends to watch for include shifts in consumer preferences towards premium and niche perfume brands, the impact of e-commerce on sales, and potential regulatory changes influencing import policies. Monitoring these factors will be crucial for predicting market dynamics and investment opportunities in the Vietnamese fragrance sector.
