PUBLISHER: The Business Research Company | PRODUCT CODE: 1513273
PUBLISHER: The Business Research Company | PRODUCT CODE: 1513273
Water-free skincare encompasses skincare products that omit water (aqua) as a primary ingredient. These formulations often prioritize anhydrous (waterless) compositions, relying on oils, emollients, and other moisturizing agents to hydrate and nourish the skin without water dependency.
The primary categories of water-free skincare include oil-based, balm-based, anhydrous creams, powdered, and solid skincare. Oil-based skincare predominantly features oils as their key components. These products cater to various skin types such as dry skin, oily or acne-prone skin, sensitive skin, and normal or combination skin, offering functions such as hydration, cleansing, treatment, and protection. Sales channels for water-free skincare span hypermarkets or supermarkets, specialty stores, drug stores and pharmacies, convenience stores, online retailers, and other retail channels.
The water free skincare market research report is one of a series of new reports from The Business Research Company that provides water free skincare market statistics, including water free skincare industry global market size, regional shares, competitors with water free skincare market share, detailed water free skincare market segments, market trends, and opportunities, and any further data you may need to thrive in the water free skincare industry. This water free skincare market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The water free skincare market size has grown strongly in recent years. It will grow from $14.86 billion in 2023 to $15.96 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The historical period's growth can be credited to the increasing consumer desire for sustainable and eco-friendly beauty items, the surge in popularity of minimalist beauty regimens, the rise of e-commerce platforms, and the impact of social media influencers.
The water free skincare market size is expected to see strong growth in the next few years. It will grow to $21.48 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The forecast period's growth can be ascribed to the expansion of waterless skincare product ranges, the demand for travel-friendly and portable skincare options, the increase in disposable income, the growing preference for inventive skincare solutions, and the heightened emphasis on sustainability and water preservation. Key trends expected in the forecast period encompass product innovations, the clean beauty movement, solid and powder formulations, customizable skincare, and skincare products friendly to the microbiome.
The projected surge in e-commerce transactions is poised to drive the future growth of the water-free skincare market. E-commerce, a term denoting online buying and selling, has seen a rise owing to its convenience, accessibility, diverse product range, customization options, and competitive pricing. These platforms often furnish comprehensive product details, including ingredient lists and user feedback, empowering consumers to make well-informed purchase decisions. Transparent product information aids consumers in evaluating the effectiveness, safety, and suitability of water-free skincare products based on their preferences, skin sensitivities, and environmental considerations. For example, in February 2024, as per data from the United States Census Bureau, e-commerce sales in 2023 were forecasted to hit $1,118.7 billion, marking a 7.6% increase (with a margin of error of +-1.2%) from 2022. Consequently, the surge in e-commerce transactions is propelling the expansion of the water-free skincare market.
Key players in the water-free skincare sector are directing their efforts toward developing innovative offerings, such as waterless beauty products, to bolster sustainability and meet the demand for eco-friendly alternatives. These products eschew water in their formulations, emphasizing efficacy and sustainability through alternative ingredients and pioneering methodologies. For instance, in August 2023, Vegreen Skincare, an eco-conscious skincare brand based in South Korea, rolled out its inaugural waterless product, the intensive waterless Vitamin C ampoule 20%, addressing common concerns associated with conventional Vitamin C products such as oxidation and loss of potency. This pioneering product utilizes an oil-based ethyl ascorbyl (6%) to ensure high absorbency and prolonged antioxidant activity, maintaining a vitamin C concentration exceeding 80%.
In January 2023, Starco Brands, a US-based consumer products provider, acquired Skylar for an undisclosed sum. This acquisition is geared towards expanding Starco's product portfolio with clean fragrance offerings, leveraging Skylar's success to introduce innovations and establish it as a leading brand supported by robust retail partnerships and a dedication to advancement. Skylar, an operator of a skincare brand based in the US, specializes in water-free skincare, aligning with Starco's strategic objectives.
Major companies operating in the water free skincare market are Johnson & Johnson, Procter & Gamble, Unilever, L'Oreal SA, Henkel AG & Co. KGaA, Estee Lauder Companies Incorporation, Kao Corporation, Amway, Shiseido Company Limited, Coty Inc., Avon Products Incorporation, Clarins Group, Nu Skin Enterprises, Revlon Incorporation, Oriflame, Oriflame Cosmetics Global SA, Tata Harper, Indie Lee & Co. LLC, Herbivore Botanicals LLC, Biotique Botanicals Pvt. Ltd., Biossance Corp., Cocokind Inc., Farmacy Beauty LLC, KW Brand Holdings LLC, Bybi Beauty Limited.
Asia-Pacific was the largest region in the water free skincare market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the water free skincare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the water free skincare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The water-free skincare market consists of sales solid skincare bars, serums, facial oils, and cleansing oil. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Water Free Skincare Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on water free skincare market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for water free skincare? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The water free skincare market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.