Waterless Cosmetics Market Size, Share, Analysis, Trends, Growth, Forecasts, 2032

Waterless Cosmetics Industry Prospective:

The global waterless cosmetics market size was evaluated at $10 billion in 2023 and is slated to hit $20 billion by the end of 2032, with a CAGR of nearly 11% between 2024 and 2032.

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Waterless Cosmetics Market: Overview

Waterless cosmetics are gaining huge popularity in the beauty sector with escalating demand for eco-friendly cosmetic products. Moreover, waterless cosmetic products use oils and butter as well as various solid ingredients for producing concentrated skincare & cosmetic items.

The product offers a slew of benefits such as enhanced potency, elongated shelf life, and mitigating product impact on the environment. Reportedly, its versatile and multi-functional nature has increased product demand globally.

Key Insights

• As per the analysis shared by our research analyst, the global waterless cosmetics market is projected to expand annually at the annual growth rate of around 11% over the forecast timespan (2024-2032)
• In terms of revenue, the global waterless cosmetics market size was evaluated at nearly $10 billion in 2023 and is expected to reach $20 billion by 2032.
• The global waterless cosmetics market is anticipated to grow rapidly over the forecast timeline owing to humungous customer demand for products along with the growing use of green products.
• In terms of product type, the skincare segment is slated to register the highest CAGR over the forecast period.
• Based on distribution channel, the online segment is predicted to contribute majorly towards segmental space in the upcoming years.
• On the basis of customer demographics, the age segment is projected to dominate the global market revenue over 2024-2032
• Region-wise, the European waterless cosmetics industry is projected to register the fastest CAGR during the assessment timespan.

Waterless Cosmetics Market: Growth Factors

High product usage and launching of diversified products to boost the global market expansion

Humungous customer demand for products, along with the growing use of green products, is expected to boost the global waterless cosmetics market trends. Technological innovations and ingredient sourcing have helped products create beneficial product formulas, and this has paved the way for humungous growth of the global market. Necessity of water conservation and minimizing plastic waste is anticipated to bolster the market surge globally in the years ahead.

Moreover, massive customer awareness about sustainable products and an increase in promotional activities on print media as well as TV & social media will encapsulate the growth of the market globally. Launching flexible packaging and enhanced formulations will steer the expansion of the global market.

Waterless Cosmetics Market: Restraints

A rise in the costs of producing waterless cosmetics items can put brakes on the global industry expansion

Huge product manufacturing costs and less availability of product variety are likely to dampen the expansion of the global waterless cosmetics industry. Moreover, complex legislation, along with the sensitivity of products to humidity and temperature, can retard the global industry surge in the coming years.

Waterless Cosmetics Market: Opportunities

Popularity of green product packaging can open new panoramas of growth for the global market

Launching new products and targeting the Gen Z & millennial population in developed and emerging economies will steer the growth of the global waterless cosmetics market. Furthermore, demand for green packaging and prominent supply chain activities are expected to generate new growth avenues for the market globally.

Waterless Cosmetics Market: Challenges

Escalating raw component prices can result in diminishing returns on capital investments, leading to decline in industry growth globally

High raw material costs and less awareness about product benefits, along with low product hydration, can challenge the expansion of the global waterless cosmetics industry. Moreover, the growing need to maintain product stability and performance has led to complications in product development, which can obstruct the global industry surge in the ensuing years.

Waterless Cosmetics Market: Segmentation

The global waterless cosmetics market is divided into product type, distribution channel, customer demographics, and region.                                             

In terms of product type, the waterless cosmetics market across the globe is segmented into skincare, personal care, makeup, and haircare segments. Apparently, the skincare segment, which gathered nearly 54% of the global market earnings in 2023, is expected to record the fastest CAGR in the coming eight years due to rising customer awareness about eco-friendly products and the long-lasting effects of the product, such as nourishment on skin. Moreover, skincare waterless cosmetics products are available in varied forms, such as serums, cleansers, and moisturizers.

Based on distribution channel, the global waterless cosmetics industry is divided into offline and online segments. Apparently, the online segment, which dominated the global industry size in 2023, is anticipated to account largely towards the progress of the segment in the forecasting timeline. This can be owing to the convenience offered by online shopping activities.

Reportedly, many firms have adopted a direct-to-consumer business model, thereby directly selling to customers via their website and thus reducing prices. Flourishing online retail and e-commerce activities will further bolster segmental growth.

On the basis of customer demographics, the global waterless cosmetics market is bifurcated into income level, age, and gender segments. Moreover, the age segment, which accounted for the major share of the global market in 2023, is likely to lead the global market earnings in the forecast period.

The growth of the segment over 2024-2032 can be credited to a rise in the product demand by Gen Z & millennial population across the globe. Apart from this, this population is willing to pay more for high-quality products, which will boost the segmental surge.

Waterless Cosmetics Market: Report Scope

Waterless Cosmetics Market: Regional Insights

Asia-Pacific is likely to maintain leading status in the global market over the assessment timeline

Asia-Pacific, which accounted for nearly 40% of the global waterless cosmetics market revenue in 2023, is predicted to establish a number one position in the global market in the forecasting timespan. Furthermore, the regional market upsurges in the coming few years can be attributed to surging customer awareness about the product benefits and a rise in the purchase of premium products by the middle-income group population in the region.

Strong focus on personal care & cosmetics items will further drive the market trends in APAC. An increase in product sales via e-commerce websites has added to the regional market development in recent years.

The European waterless cosmetics industry is set to account for the fastest compound rate of growth annually in the forecast timespan. The scaling up of the industry in Europe can be subject to the growing inclination of consumers towards the use of organic beauty items and strict laws levied by the EU on the use of natural ingredients in cosmetic as well as personal care beauty products. Moreover, the presence of key players in the continent will spur the expansion of the industry in Europe.

Waterless Cosmetics Market: Competitive Space

The global waterless cosmetics market profiles key players such as:

• Ethique
• Unilever plc
• Henkel AG & Co. KGaA
• Avon Products Incorporation
• L'Oréal
• Seadrop Skincare
• Estee Lauder Companies
• Ruby's Organics
• Loli Beauty
• Procter & Gamble
• Kao Corporation
• Shiseido Company
• Limited
• Coty Inc.
• Superzero
• Everist
• Clensta.

The global waterless cosmetics market is segmented as follows:

By Product Type

• Skincare
• Personal Care
• Makeup
• Haircare

By Distribution Channel

• Offline
• Online

By Customer Demographics

• Income Level
• Age
• Gender

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa