DUBAI, UAE, June 3, 2021 /PRNewswire/ — ESOMAR-certified consulting firm Future Market Insights’ report projects a significantly positive outlook for waterless cosmetics market through 2021. According to the report, the market is expected to surpass nearly US$ 8.9 billion. Rising demand for chemical-free cosmetics, especially among women, is primarily underpinning the expansion prospects. Furthermore, FMI projects the market to register a CAGR of over 13.3% between 2021 and 2031.
With increasing reach of social media, beauty bloggers, and influencers, the demand for waterless cosmetics has ballooned owing to their skincare benefits. Sustainability concerns and increased demand for waterless skin care products have increased the manufacturing of waterless cosmetics, bolstering the market growth.
To address the growing concerns regarding plastic waste and water wastage in the industry, beauty influencers are heavily promoting waterless beauty products. Also, the rising demand for cruelty free, non-toxic and eco-friendly products are providing lucrative growth opportunities for the market players.
Use of organic and natural ingredients has become a major trend across the globe, especially in skincare products, which is accelerating the demand of waterless cosmetics across the U.S., the U.K., and India.
“Increasing demand for sustainable & eco-friendly skincare products among millennials and baby boomers has been creating opportunities for sales of waterless cosmetics. This is also encouraging the market players to focus on product launches,” says the FMI analyst.
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Key Takeaways from FMI’s Waterless cosmetics Market Study
- In terms of product type, skincare segments holds a major chuck of market share, registering a CAGR of over 11.4% through 2021
- Women segment in consumer’s orientation is expected to account for 38.4% sales in global waterless cosmetics market
- Penetration of social media and increasing brand promotion by beauty bloggers are pushing the sales of waterless cosmetics across the U.S.
- The global waterless cosmetics market in UK is poised to expand at 4.6% CAGR through 2031
- India’s waterless cosmetics market is accounted to hold over 1/4th of market share in South Asia
- Brazil will emerge as one the most lucrative market exhibiting a CAGR of 13.5% during the forecast period
Leading players in the waterless cosmetics market are currently focusing on expanding their product portfolios to include a wider range of products in cosmetics. Key players are actively collaborating with beauty bloggers and influencers to generate revenues through e-commerce platforms.
Increased penetration of online platforms has provided new platform for the manufacturers to promote their brands and products.
In March 2021, Waterless beauty brand OWA hair care announced the re-launch of its brand Susteau, coupled with the launch of its new powder-to-liquid Moondust Hair Conditioner.
In January 2021, Everist Inc., a new clean, zero-waste beauty company, launched its first high-performance beauty products in the hair care category.
Some of the key players profiled by Future Market Insights include:
- Unilever PLC
- The Waterless Beauty Company
- L’Oreal SA
- Kao Corporation
- The Procter & Gamble Company
- Ruby’s Organics
- Carter + Jane
- Taiki USA
- True Botanicals
- Allies Group Pvt. Ltd.
- Lavedo Cosmetics
- No Cosmetics
- May Coop
- Azafran Innovacion
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More Insights into the Global Waterless Cosmetics Market
In its latest report, FMI offers a detailed segmentation on the global waterless cosmetic market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of:
- 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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Key Questions Covered in the Report
- What will be the future outlook for waterless cosmetics market?
- Which region will emerge as the most lucrative market during the forecast period?
- Which are the key trend that will drive the waterless cosmetics market demand?
- What are the challenges that will affect the growth of waterless cosmetics market?
- Which segment will remain the most lucrative throughout the forecast period?
- What is the impact of Covid-19 on waterless cosmetics market?
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE Future Market Insights