Below are some key findings in this preview:
Home care market in Vietnam is divided into four main segments: Laundry care, Dishwashing, Household cleaner and Bleach. Of which, laundry care segment occupied around 78% of market size in 2017.
Laundry care market size is estimated at approx. US$1.4bn in 2017, posting 2012-2017 CAGR of 16.7%. Liquid detergent product registered a remarkable growth with CAGR 2012-2017 of over 30%, however, from low base (10% of laundry care market size in 2017).
Unilever still dominates Vietnam home care sector with 70% market share in 2017. Beside being contractor for foreign players including Unilever and P&G, local firms start to develop their own brand and distribution network, especially in rural area with big pack size. Additionally, the revolution of e-commerce players such as Shopee or Tiki assist local brands to penetrate niche market.
Development trends: (i) With busier lifestyles and rising income, consumers are willing to pay for premium products with convenient and effective features, creating opportunities for concentrated products; (ii) Urbanization means smaller storage space, which may increase demand for smaller package sizes, concentrated and multi-purpose products; (iii) Rural area appeared as the promising land for detergent given historical performance indicator and low penetration rate of washing machine
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