Waterless Cosmetic Market Expected to Reach $22 Billion by 2031

According to a new report published by Allied Market Research, titled, “Waterless Cosmetic Market,”; The Waterless Cosmetic Market Size was at $8.8 billion in 2021, and is estimated to reach $22 billion by 2031, growing at a CAGR of 9.9% from 2022 to 2031.

Waterless cosmetics are available in four types, skincare, hair care, makeup and others.

All these cosmetics are water free or contain very low amount of water. These waterless cosmetics can be organic based or synthetic. Majority of the consumers are moving toward waterless cosmetics owing to these being long lasting, eco-friendly and of high quality. There is an increase in the demand for waterless cosmetic due to the inclination of customer’s preference toward looks and beauty.

As customers are adopting an eco-friendly lifestyle with growing awareness regarding Waterless Cosmetic Market Opportunity, they prefer products that are rich anti-aging and beatifying agents. These cosmetics are used as a source to obtain glowing and healthy-looking skin. The utmost reason for increase in demand of waterless cosmetics is that rise in living standard of people and change in their spending habits.

Although cosmetics serve as a good option for making an improvement in appearance, but their over usage may lead to skin irritations and skin damage. Different cosmetic products can be used for different purposes; for instance, skincare products like serum, face mask and face pack are used for nourishing and glowing skin; hair care products like hair mask, shampoo and conditioners are used for soft and healthy hairs; and makeup products like lipstick, compacts and foundation are used to get an instant glow on face.

The waterless cosmetic market is segmented into product type, gender, nature, distribution channel, and region. On the basis of product type, the market is classified into skincare, hair care, makeup, and other.

The skincare segment occupied the major Waterless Cosmetic Market Share and is projected to maintain its dominance during the forecast period. The Waterless Cosmetic Market Growth of the skincare segment is attributed to inclination of customer’s interest toward skincare and long-lasting effect on skin.

By gender, the market is segregated into men and women.

The women segment has the major share in the market and is expected to grow at a CAGR of 9.6% during the forecast period, it is attributed to the rise in beauty consciousness amongst women. In addition, rise in the awareness about the women cosmetic products throw the involvement of celebrities to endorse brands is benefiting the Waterless Cosmetic Market Trends for women. Depending on nature, the Waterless Cosmetic Market Analysis is bifurcated into organic and synthetic. The synthetic segment occupied the major share of the market, and is projected to maintain its dominance during the forecast period. This is attributed to its numerous advantages, as involvement of low cost and easy availability in the market.

However, the market for organic products is estimated to grow at the fastest CAGR of 9.1%. As per distribution channel, the market is categorized into supermarkets & hypermarkets, specialty stores, online sales channel, and others.

Consumers prefer the specialty store channel for purchasing consumer goods and beauty products, where they can physically verify product quality. In 2021, Asia-Pacific, accounted for 38.7% in the global waterless cosmetic market. Increase in Waterless Cosmetic Market Demand from developing economies has driven the market growth over the last few years.

Moreover, the region is expected to dominate in the coming years, due to increase in disposable income of the people and rise in population. Pandemic-induced lockdowns had disturbed transportation and suspended the supply of raw materials for a particular time period, which affected the manufacturing units of waterless cosmetics. The prolonged curfews and lockdown across the globe have hugely impacted the lifestyle and health & well-being of the consumers.

The major players analyzed for global Waterless Cosmetic Industry are L’Oréal, Avon Products Incorporation, Procter and Gamble (P&G) Corporation, Unilever. Oriflame Cosmetics, Revlon Incorporation, Kao Corporation, Estee Lauder Companies Incorporation, Shiseido Company, Limited, Biotique, The Estée Lauder Companies Inc. Henkel Ag & Co. Kgaa, Johnson & Johnson, Amway, Coty Inc. These major market players have adopted various strategies such as product launch and acquisition to expand their market reach.

Key findings of the study

On the basis of product, the skincare dominated the market in the year 2021, however the hair care is likely to be the fastest growing segment during the forecast period. On the basis of gender, the men segment is likely to be the fastest growing segment with the CAGR of 10.7% during the Waterless Cosmetic Market Forecast period.

On the basis of nature, the organic segment is likely to be the fastest growing segment with the CAGR of 10.8% during the forecast period. On the basis of distribution channel, the E-commerce sales channel is likely to be the fastest growing segment with the CAGR of 11.6% during the forecast period. Region wise, Asia-Pacific dominated the global waterless cosmetic market.

Submitted by: Prasun Rai – Republished from Allied Market Research