Market Overview:
According to Fortune Business Insights Global Waterless Cosmetics Market size was valued at USD 11.23 billion in 2023. The market is expected to expand from USD 11.78 billion in 2024 to USD 19.81 billion by 2032, exhibiting a CAGR of 6.71% over the study period.
Waterless cosmetics use waxes, butter, oils, and other oil-soluble ingredients, which lead to more concentrated formulations, decreasing the requirement for preservatives. The advancements in formulation technology have led to the creation of effective products that cater to consumer expectations for performance and quality. These innovations aid brands in developing high-performance products, boosting market expansion.
The waterless cosmetics market witnessed massive lockdowns and restrictions amid the COVID-19 pandemic, which resulted in disruptions in transportation and a halt in the raw materials supply. This factor impacted production units, which made it difficult for cosmetic brands to cater to consumer demand for waterless products.
List of Key Players Mentioned in the Report:
- L’Oréal S.A. (France)
- The Procter & Gamble Company (U.S.)
- Kao Corporation (Japan)
- Henkel AG & Co. KGaA (Germany)
- The Estée Lauder Companies Inc.(U.S.)
- Amway (U.S.)
- Biotique (India)
- Revlon Inc. (U.S.)
- Coty Inc. (U.S.)
- Shiseido Company, Ltd. (Japan)
- Ruby's Organics (India)
- Clensta (India)
- Olaplex (U.S.)
- Bath & Body Works (U.S.)
- B Blunt (India)
Get a Sample of this Report:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/waterless-cosmetics-market-110537
Segmentation:
Concentrated Formulations Provided by Waterless Skincare Products to Fuel Segment Growth
On the basis of product, the market is classified into makeup, haircare, skincare, and others. The skincare segment accounts for the largest waterless cosmetics market share owing to concentrated formulations provided by waterless skincare products with different benefits. This appeals to consumers who search for efficiency in their beauty regimens.
Hypermarkets/Supermarkets Segment Led Propelled by Presence of a Wide Range of Products
In terms of sales channel, the market is divided into hypermarkets/supermarkets, online channels, specialty stores, and others. The hypermarkets/supermarkets segment occupied the largest share in 2023 on account of the presence of a diverse array of products in the same store. Due to this factor, these stores appear to be one-stop shopping destinations.
From the regional perspective, the market is segregated into Europe, the Middle East & Africa, South America, North America, and Asia Pacific.
Report Coverage:
The report offers an in-depth analysis of the key driving and restraining factors affecting the market growth. In addition, the strategic moves implemented by top companies to stand out from the competition have been mentioned in the report. Other aspects of the report include the latest trends, key segments, and the impact of the COVID-19 pandemic on the market growth.
Drivers and Restraints:
Surging Popularity for Organic and Natural Cosmetic Products to Spur Market Expansion
The rising concerns regarding the shortage of water and the environmental influence of traditional cosmetics have led to a considerable push toward eco-friendly products. Moreover, waterless cosmetics fundamentally decrease the use of water, which is in line with emerging consumer demand for environmentally responsible and sustainable beauty solutions.
However, a lack of awareness coupled with the adverse effects of chemical-based cosmetics may impede waterless cosmetics market growth.
Regional Insights:
Asia Pacific Dominated Driven by Quick Surge in Disposable Incomes
Asia Pacific registered the largest share of the market in 2023, which can be attributed to the quick rise in the disposable incomes of Asian consumers. This factor has created a greater demand for premium beauty products. The Ministry of Statistics and Programme Implementation (MOSPI) has reported that the disposable personal income in India reached USD 3,556,777 million in 2023, which was USD 3,303,450 million in 2022.
North America market growth is fueled by the growing prioritization of eco-friendly products that decrease water usage and packaging waste by consumers. Moreover, waterless cosmetics are in line with these values since they are developed to reduce environmental impact, which surges their demand.
To get to know more about this market, please visit:
https://www.fortunebusinessinsights.com/waterless-cosmetics-market-110537
Competitive Landscape:
Leading Companies Focus on Product Innovations to Boost Their Position
Different competitive strategies such as joint ventures, capacity expansions, and mergers are being adopted by top companies to keep ahead of their competition. Several companies are also focusing on releasing new and innovative products to capture the largest share of the market and strengthen their position.
Key Industry Development:
January 2024: Batiste, a reputed hair care brand, announced the launch of a new range of dry shampoos, which is developed to keep hair feeling and looking fresh during exercise. The 24 Hour Active and 24 Hour Fresh variants leverage the brand’s cutting-edge sweat and touch-activated technology.
Comments
0 comment