Sales of waterless cosmetics are expected to grow rapidly between 2021 and 2031, with a CAGR of over 13.3%. (FMI). The research study analyses the sales of waterless cosmetics in more than 20 countries and paints a clear picture of the future development of the growing trend.
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Over 37% of market sales are for skincare items, a particular product category. Creams, lotions, serums, cleansers, and other items that are waterless are included in this category. In the upcoming years, it is anticipated that the growing demand for natural and organic cosmetics would propel the market for waterless cosmetics.
Key Takeaways from the Waterless Cosmetics Market Study
- Rising demand for sustainable beauty products will enable the waterless cosmetics market reach a valuation of US$ 8.9 Bn by 2021
- Besides high awareness, willingness to spend on sustainable beauty formula will drive waterless cosmetics sales in the U.S., which is expected to account for nearly 80% of the North America market
- Increasing demand for organic skincare will enable the U.K. market to exhibit 5.3% y-o-y growth in 2021 following a period of lull in 2020
- The demand for cruelty free, vegan, and organic cosmetics will drive sales of waterless cosmetics in India
- Expansion of the beauty sector in Japan and South Korea will drive sales in East Asia
Impact of COVID-19 on the Market:
Global demand for waterless cosmetics was growing at a moderate rate prior to the COVID-19 pandemic. Major international markets have experienced dual effects following the pandemic. Store closures in various regions had a significant impact on the growth of beauty products, including waterless cosmetics, as store-based retailing is a significant distribution channel in the beauty industry.
The demand for eco-friendly skincare products has increased in the aftermath of the pandemic, with stay-at-home orders and safer-at-home advisories issued across the world. Additionally, shortage of workers in the sector, less consumption, high cost of production, and shortage of raw materials among other factors have been hampering the waterless cosmetics market.
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Who is Winning?
Some of the key players present in the waterless cosmetics market are Unilever Plc., The Waterless Beauty Company, L’Oreal SA, Kao Corporation, The Procter & Gamble Company, Loli, Clensta, Ruby’s Organics, Taiki USA, Ktein, Niconi, True Botanicals, Allies Group Pte. Ltd., Lavedo Cosmetics, May Coop, No Cosmetics, Azafran Innovacio006E, and Carter + Jane, among others. Players in the industry have begun to offer discounts on cosmetic brands in order to entice end users to embrace the most up-to-date waterless cosmetics.
Waterless Cosmetics Market by Category
- Hair Care
- Convenience Stores
- Specialty Stores
- Departmental Stores
- Online Retail
- Other Retail Formats
- Economy (Below US$30)
- Mid-Range (US$30 to US$60)
- Premium (Above US$60)
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
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