Deodorants in Vietnam

Euromonitor International
April 2024
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LIST OF CONTENTS AND TABLES

KEY DATA FINDINGS.................................................................................................................. 1
2023 DEVELOPMENTS ............................................................................................................... 1
Rising interest in grooming propels growth in deodorants in 2023 ........................................... 1
Demand for convenience drives innovation .............................................................................. 1
Widespread budget-consciousness prompts players to focus on multifunctionality and
maximal benefits ....................................................................................................................... 2
PROSPECTS AND OPPORTUNITIES......................................................................................... 2
Deodorant sales to continue to see steady growth with more investment in packaging ........... 2
Ingredients and (lack of) scents will take centre stage as brands strive for differentiation ........ 2
E-commerce expected to facilitate growth of overall deodorant category ................................. 3
CATEGORY DATA ....................................................................................................................... 3
Table 1 Sales of Deodorants by Category: Value 2018-2023 ................................... 3
Table 2 Sales of Deodorants by Category: % Value Growth 2018-2023................... 4
Table 3 Sales of Deodorants by Premium vs Mass: % Value 2018-2023 ................. 4
Table 4 NBO Company Shares of Deodorants: % Value 2019-2023 ........................ 4
Table 5 LBN Brand Shares of Deodorants: % Value 2020-2023............................... 5
Table 6 LBN Brand Shares of Premium Deodorants: % Value 2020-2023 ............... 5
Table 7 Forecast Sales of Deodorants by Category: Value 2023-2028 .................... 6
Table 8 Forecast Sales of Deodorants by Category: % Value Growth 2023-
2028 ............................................................................................................. 6
Table 9 Forecast Sales of Deodorants by Premium Vs Mass: % Value 2023-
2028 ............................................................................................................. 6

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DEODORANTS IN VIETNAM
KEY DATA FINDINGS
▪ Retail value sales grow by 4% in current terms in 2023 to VND2.5 trillion
▪ Deodorant sticks is the best performing category in 2023, with retail value sales increasing by
5% in current terms to VND26.8 billion
▪ Beiersdorf Vietnam Ltd Co is the leading player in 2023, with a retail value share of 36%
▪ Retail sales are set to rise at a current value CAGR of 7% (2023 constant value CAGR of 4%)
over the forecast period to VND3.6 trillion

2023 DEVELOPMENTS

Rising interest in grooming propels growth in deodorants in 2023

Deodorants in Vietnam turned in a convincingly positive performance in 2023, thanks in large
part to rising living standards and higher hygiene-consciousness propelling greater concern in
personal hygiene and grooming. The use of deodorants to combat body odour became more
frequent. In addition, the weather and climate in Vietnam involves high temperatures and high
humidity, making deodorants almost necessary from most people to remain fresh and
comfortable throughout the day. Even in the country’s rural areas, where people have relatively
low incomes and spend a lot of time working outdoors, consumers are increasingly willing to use
deodorants more often as part of their daily routines.
Vietnamese teenagers and college/university students especially are increasingly embracing
certain aspects of western lifestyles, including outdoor activities such as biking, trekking and
hiking, among other sports. As a result, there is growing demand for deodorants that offer strong
protection and reduce sweat under the arms, with those involved in active lifestyles pushing the
trend.

Demand for convenience drives innovation

Dove (Unilever) recently launched and enhanced its deodorant serum series, with a range of
products containing 3% niacinamide and ten times the amount of collagen that is usually found
in such items. The new variants claim to provide protection for over 48 hours while also
supporting skin-whitening and brightening under the arms. They are presented in plastic tubes
with rolling caps, making them lightweight and easily portable, thus ideal for travelling as well as
for day-to-day on-the-go lifestyles. Nivea has also introduced a new serum-based product
available in both spray and roll-on formats, boasting rapid absorption in the skin as well as the
ability to aid in skin-whitening and the provision of long-lasting scent. Following Nivea’s serum
deodorants, Dove introduced its dry serum deodorant, which not only claims to help consumers
prevent body odour and dry more quickly than traditional roll-ons, but also contains collagen and
vitamin B3, and helps to whiten the underarm skin. This is expected to be an exciting new
segment and was splashed across all social media platforms.
Vietnam’s high and rising internet consumption and the extensive online advertising from
brands have led consumers to show greater interest in deodorant sticks. One such product
gaining popularity is from local brand API (Ameri Group Company Limited). These deodorant
sticks are convenient to carry in consumers' bags, and API is the subject of positive feedback
and many recommendations from TikTok influencers, thanks to its herbal ingredients, strong
and persisting fragrances that can last for over 72 hours, and convenient format.

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Widespread budget-consciousness prompts players to focus on

multifunctionality and maximal benefits
Vietnamese consumers are more and more prioritising deodorants that offer more than just
basic long-lasting protection. Specifically, there is a growing emphasis on additional benefits
such as skin-whitening and brightening under the arms. For many Vietnamese women, the
presence or absence of underarm hair is a significant concern. There is thus much demand for
deodorants that offer support in preventing hair growth, with this feature being highly valued by
local consumers.
To remain competitive, brands are having to continuously introduce and develop new
ingredients such as niacinamide, collagen, vitamin C and others. Evolving consumer
preferences are pushing players to invest more in multifunctional variants boasting ingredients
widely regarded as delivering guaranteed efficacy, with the country’s very many cost-conscious
consumers always on the lookout for the products promising the most benefits within affordable
formats. The overall trend towards products that provide multiple benefits enables lower-income
consumers to efficiently fulfil their hygiene needs. Students and teenagers especially are often
constrained by limited budgets for personal care, and so tend to favour multifunctional
deodorants that offer long-lasting protection, pleasant scents and effective sweat prevention.

PROSPECTS AND OPPORTUNITIES

Deodorant sales to continue to see steady growth with more investment

in packaging
Deodorant sales are expected to keep on rising steadily during the forecast period, in both
volume and current value terms. This is because people in Vietnam are generally earning more
and living better, so they are willing to spend more on personal care items like deodorants.
Moreover, the already challenging climate in Vietnam is only getting hotter due to environmental
changes, leading to greater sweat and odour issues and resulting in higher demand for
deodorants and their more frequent use.
Packaging plays an important role in attracting consumers to deodorants, and this is expected
to continue in the forecast period, with players therefore likely to create appealing packaging
through the use of trendy colours to help their brands stand out among the crowd. Meanwhile,
the smaller size of Vietnamese households, as they have fewer children than they used to,
means that young families will more easily be able to prioritise their children’s physical health
and hygiene, which will increase demand for children’s deodorants. In addition, as activities
outside the home resume, and as consumers see higher income levels, specific products are
expected for activities outside the home, including small packaging such as 100ml bottles for air
travel. These developments are set to support demand for deodorants over the coming years.
The compact and convenient gel/serum format with roll-on caps is expected to see substantial
growth during the forecast period, mainly thanks to its portability and thus suitability for travel
purposes and active lifestyles. Larger packaging options available in both spray and roll-on
formats are projected to maintain stable growth, catering to consumers seeking economical
solutions for daily use.

Ingredients and (lack of) scents will take centre stage as brands strive
for differentiation
While floral scents in deodorants have been extensively developed by major players and
enjoyed popularity for a considerable length of time in Vietnam, there is rising demand for

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unscented variants as well as those carrying subtly relaxing fragrances - particularly among
individuals who prefer that their deodorant does not override or clash with their perfume.
Although fragranced products account for the majority of those available, there is a small but
growing group of consumers that prefers unscented deodorant, especially in the big cities, since
the mass products available usually have popular scents which are easy to recognise and
relatively common. Many men especially consider that mass deodorants have used similar
scents for a while now, and such scents can also be found in other male-specific products, such
as shower gel and shampoo. As a result, they are moving away from these scents to unscented
products in deodorants, and the forecast period will witness innovation in this direction within
deodorants.
In addition, the market is set to see the expansion of new ingredients that specifically aim to
support skin-whitening and those that aim to reduce underarm hair. These ingredients will be
mostly herbal extracts, thanks to recent extensive and aggressive marketing of herbal options
on TikTok. Herbal dermocosmetics deodorants that consumers can get away with using only 2-3
times a week after bathing are becoming more prevalent in Vietnam in response to demand
among consumers with strong odour issues, but also among consumers simply seeking to
streamline their personal hygiene regimes.
As is evident from Dove’s successful launch of its dry serum deodorant, added features are
key selling points in deodorants, and are always being introduced by brands. Features such as
cooling technology when sprayed directly on the skin, a formula that does not stick to clothing,
long-lasting scent, sweat prevention, and quick-dry are features available from some brands,
and are communicated through marketing activities and packaging labels. Such new product
developments reflect the premiumisation trend visible in deodorants.

E-commerce expected to facilitate growth of overall deodorant category

While modern store-based outlets remain pivotal for deodorant sales, supermarkets and
beauty specialist retailers typically offer a restricted range of options, prioritising products from
prominent industry leaders. The deodorant category is experiencing a boost as a result of the
popularity of e-commerce sites like Shopee, Lazada and TikTok. More and more players are
opening e-stores and attracting consumers through favourable promotional offers and free
shipping, making shopping for deodorants online increasingly cost-effective when compared
with purchasing from store-based outlets. Further, new deodorant products tend to become
available online more rapidly than they do within store-based retail outlets. Progress will
continue in this direction throughout the forecast period, with the expansion of e-commerce
contributing to overall category growth.

CATEGORY DATA
Table 1 Sales of Deodorants by Category: Value 2018-2023

VND billion
2018 2019 2020 2021 2022 2023

Deodorants 1,970.7 2,258.8 2,439.1 2,345.1 2,437.0 2,530.0

Deodorant Creams - - - - - -
Deodorant Pumps - - - - - -
Deodorant Roll-Ons 1,323.3 1,515.7 1,647.1 1,597.2 1,665.1 1,732.9
Deodorant Sprays 625.4 719.0 766.7 723.7 746.4 770.3
Deodorant Sticks 22.0 24.1 25.3 24.2 25.5 26.8
Deodorant Wipes - - - - - -

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Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 2 Sales of Deodorants by Category: % Value Growth 2018-2023

% current value growth

2022/23 2018-23 CAGR 2018/23 Total

Deodorants 3.8 5.1 28.4

Deodorant Creams - - -
Deodorant Pumps - - -
Deodorant Roll-Ons 4.1 5.5 31.0
Deodorant Sprays 3.2 4.3 23.2
Deodorant Sticks 5.1 4.0 21.8
Deodorant Wipes - - -
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 3 Sales of Deodorants by Premium vs Mass: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Premium 8.4 10.5 10.8 10.8 10.9 10.9

Mass 91.6 89.5 89.2 89.2 89.2 89.1
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 4 NBO Company Shares of Deodorants: % Value 2019-2023

% retail value rsp

Company 2019 2020 2021 2022 2023

Beiersdorf Vietnam Ltd Co 41.9 42.1 42.5 39.2 36.1

Unilever Vietnam 16.9 16.5 16.7 17.0 17.2
International Co Ltd
Unza Vietnam Co Ltd 11.4 11.9 11.9 11.9 12.0
International Consumer 8.7 9.0 8.5 8.5 8.5
Products Co Ltd
Sagen Trade & Service JSC 1.1 1.4 1.7 1.8 1.9
Nu Skin Vietnam Co Ltd 1.4 1.4 1.7 1.7 1.8
Oriflame Vietnam Ltd - 1.0 0.6 0.6 0.7
Coty Inc 0.6 0.6 0.6 0.6 0.7
Oral-B (Vietnam) Ltd 0.3 0.3 0.3 0.4 0.4
Amway Vietnam Co Ltd 0.2 0.2 0.2 0.2 0.2
Lana Cosmetics 0.0 0.0 0.0 0.0 0.0
Thuong Xuan Cosmetic Co Ltd 1.8 - - - -
Revlon Inc - - - - -
Church & Dwight Co Inc - - - - -
Procter & Gamble Vietnam - - - - -
Ltd
Osotspa Co Ltd - - - - -
Henkel Vietnam Co Ltd - - - - -
Others 15.7 15.6 15.4 18.0 20.5
Total 100.0 100.0 100.0 100.0 100.0

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Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 5 LBN Brand Shares of Deodorants: % Value 2020-2023

% retail value rsp

Brand (GBO) Company (NBO) 2020 2021 2022 2023

Nivea (Beiersdorf AG) Beiersdorf Vietnam Ltd Co 23.2 23.6 21.8 20.0
Nivea Men Deodorant Beiersdorf Vietnam Ltd Co 18.8 18.7 17.3 16.0
(Beiersdorf AG)
Enchanteur (Wipro Ltd) Unza Vietnam Co Ltd 10.8 10.8 10.8 10.9
X-Men (Marico Ltd) International Consumer 9.0 8.5 8.5 8.5
Products Co Ltd
Rexona Women Unilever Vietnam 5.4 5.5 5.6 5.7
(Unilever Group) International Co Ltd
Axe (Unilever Group) Unilever Vietnam 5.7 5.8 5.7 5.6
International Co Ltd
Dove (Unilever Group) Unilever Vietnam 3.5 3.6 3.7 3.9
International Co Ltd
Rexona Deodorant For Unilever Vietnam 1.9 1.9 2.0 2.1
Men (Unilever Group) International Co Ltd
Etiaxil (Sagen Groupe) Sagen Trade & Service JSC 1.4 1.7 1.8 1.9
Nu Skin (Nu Skin Nu Skin Vietnam Co Ltd 1.4 1.7 1.7 1.8
Enterprises Inc)
Romano (Wipro Ltd) Unza Vietnam Co Ltd 1.1 1.1 1.1 1.2
adidas Coty Inc 0.6 0.6 0.6 0.7
Oriflame (Oriflame Oriflame Vietnam Ltd 0.7 0.4 0.5 0.5
Cosmetics SA)
Gillette (Procter & Oral-B (Vietnam) Ltd 0.3 0.3 0.4 0.4
Gamble Co, The)
G&H (Amway Corp) Amway Vietnam Co Ltd 0.2 0.2 0.2 0.2
Oriflame Men Oriflame Vietnam Ltd 0.3 0.2 0.2 0.2
(Oriflame Cosmetics SA)
Nivea Deodorant Beiersdorf Vietnam Ltd Co 0.1 0.1 0.1 0.2
(Beiersdorf AG)
Lana (Lana Cosmetics Lana Cosmetics 0.0 0.0 0.0 0.0
SAE)
Body Series (Amway Amway Vietnam Co Ltd - - - -
Corp)
Lady's Choice Church & Dwight Co Inc - - - -
Fa For Women (Henkel Henkel Vietnam Co Ltd - - - -
AG & Co KGaA)
Fa Men (Henkel AG & Henkel Vietnam Co Ltd - - - -
Co KGaA)
12 Plus Osotspa Co Ltd - - - -
Oriflame (Oriflame Thuong Xuan Cosmetic Co Ltd - - - -
Cosmetics SA)
Oriflame Men Thuong Xuan Cosmetic Co Ltd - - - -
(Oriflame Cosmetics SA)
Others Others 15.6 15.4 18.0 20.5
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 6 LBN Brand Shares of Premium Deodorants: % Value 2020-2023

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% retail value rsp

Brand (GBO) Company (NBO) 2020 2021 2022 2023

Nu Skin (Nu Skin Nu Skin Vietnam Co Ltd 13.0 15.4 16.1 16.7
Enterprises Inc)
Others Others 87.0 84.6 83.9 83.3
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 7 Forecast Sales of Deodorants by Category: Value 2023-2028

VND billion
2023 2024 2025 2026 2027 2028

Deodorants 2,530.0 2,626.2 2,724.5 2,825.1 2,927.6 3,031.5

Deodorant Creams - - - - - -
Deodorant Pumps - - - - - -
Deodorant Roll-Ons 1,732.9 1,802.1 1,869.9 1,935.7 1,999.4 2,061.9
Deodorant Sprays 770.3 796.0 825.2 858.7 896.3 936.4
Deodorant Sticks 26.8 28.1 29.4 30.7 31.9 33.1
Deodorant Wipes - - - - - -
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 8 Forecast Sales of Deodorants by Category: % Value Growth 2023-2028

% constant value growth

2023/2024 2023-28 CAGR 2023/28 Total

Deodorants 3.8 3.7 19.8

Deodorant Creams - - -
Deodorant Pumps - - -
Deodorant Roll-Ons 4.0 3.5 19.0
Deodorant Sprays 3.3 4.0 21.6
Deodorant Sticks 4.9 4.3 23.6
Deodorant Wipes - - -
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 9 Forecast Sales of Deodorants by Premium Vs Mass: % Value 2023-2028

% retail value rsp

2023 2024 2025 2026 2027 2028

Premium 10.9 10.9 10.9 10.9 11.0 11.2

Mass 89.1 89.1 89.1 89.1 89.0 88.8
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

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