In today’s beauty landscape, consumers are increasingly seeking sustainable and healthier alternatives when it comes to their beauty regimens. The waterless beauty trend, which originated in the east and is now gaining momentum in the west and developed countries, is poised to reshape the industry. Backed by the concept of maximizing the potency of skincare and cosmetics products, the waterless beauty trend is driving the availability and demand for waterless cosmetics.
According to the latest study by ESOMAR-certified market research and consulting firm Future Market Insights (FMI), the waterless cosmetics market is poised for impressive growth during the forecast period. The report tracks global demand for waterless cosmetics across 20+ high-growth markets and analyzes the impact of COVID-19 on global sales.
The waterless cosmetics market is estimated to reach a value of USD 9,700 million in 2023, projected to exceed USD 33,000 million by 2033. The adoption of waterless cosmetics is expected to progress at a compound annual growth rate (CAGR) of 13% during the forecast period.
Indie brands have played a pivotal role in promoting the concept of waterless beauty products, with luxury and mass-market brands following suit to meet the growing demand from beauty-conscious consumers. Waterless cosmetics are increasingly being touted as eco-friendly offerings, addressing concerns about plastic waste and excessive water usage in the beauty industry.
Manufacturers in the waterless beauty industry are leveraging desirable claims such as non-toxic, organic, cruelty-free, and eco-friendly to align with consumer values. As the clean beauty trend gains prominence, the U.S. has emerged as a key market for waterless cosmetics, accounting for nearly 80% of sales in North America.
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Beauty influencers and bloggers wield significant influence in shaping consumer beauty regimens and product preferences. Recognizing the importance of brand storytelling, regional and local players in the United States are collaborating with influencers and bloggers to spread awareness about their waterless cosmetic offerings.
Skincare products hold a notable share of 52.9% in the waterless cosmetics market, with creams, lotions, serums, and cleansers being among the popular offerings. The skincare category is expected to witness significant growth during the forecast period, driven by innovative ingredients and a growing emphasis on sustainability.
Innovative strategies such as collaborating with sustainable packaging partners, leveraging social media platforms for brand awareness, and offering trial sizes or sample programs are key to differentiation and success in the waterless cosmetics market.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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