The global liquid makeup market is expected to reach USD 12,429.0 million by 2030, registering a CAGR of 5.4% during the forecast period, according to a new report by Grand View Research, Inc. The demand for organic products is rapidly expanding which is propelling the global market for liquid makeup. Chemical-free and organic products are becoming more popular among consumers, particularly in Europe and North America.
Liquid makeup is in high demand due to the wide variety of product availability, which further encourages manufacturers to focus on expanding their product line. Moreover, sustainability has become an essential trend in this era as consumers have become more concerned about health, wellness, and environmental issues such as the depletion of natural resources and environmental degradation.
The COVID-19 outbreak negatively affected the liquid makeup industry. Europe has the world's largest cosmetic raw materials market and is a major supplier of essential raw materials and ingredients used in the production of various forms of liquid cosmetics. The sales of liquid makeup in the initial months of 2020 were hindered as a result of the widespread closures and lockdown. Due to the social isolation, stay-at-home restrictions, and disruptions in the supply chain, the pandemic impacted cosmetics manufacturers and sales around the globe, via both online and offline channels.
In addition, there has been a considerable shift in the platforms through which people shop cosmetic or liquid makeup. The lockdown has severely impacted this aspect of the beauty industry as most of the brick-and-mortar stores were shut down for weeks. However, there has been a significant rise in sales through e-commerce channels in 2020.
Several consumers adopted e-commerce channels to purchase makeup products. For instance, websites like Nykaa and Myntra have revolutionized online shopping with their incredible offers and superior customer services. Thus, the pandemic has fueled the sales of the products through online channels and the trend is expected to boost online sales in the upcoming years.
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Based on the product, foundation, eye products, and lip products have been the three most popular liquid makeup. Liquid eye makeup constitutes products such as eye shadows, eyeliners, and mascara, among others
The foundation segment accounted for 24.1% of the global revenue share in 2021 and the eye product segment is expected to expand at a CAGR of 5.6% during the forecast period in terms of revenue. The growing influence of beauty bloggers and influencers among millennials is also increasing the demand for liquid eye makeup products
The online segment dominated the market and accounted for 56.2% of the global revenue share in 2021. Consumer buying habits have been significantly altered by the online distribution channel, which offers benefits such as doorstep service, simple payment options, substantial savings, and the availability of a large choice of items on a single platform
The offline segment is expected to expand at a CAGR of 5.3% during the forecast period in terms of revenue
Asia-Pacific dominated the liquid makeup market and accounted for a 30.1% share of the global revenue in 2021. Asia Pacific consumes the most liquid makeup products, followed by the U.S and Germany. However, global consumption of liquid makeup is increasing, particularly in regions with a growing middle class
New product launches and innovations are some of the key strategies adopted by the players to strengthen their position in the market and gain a higher market share. In September 2020, Maybelline New York launched Falsies Lash Lift Mascara replacing lash treatments. Falsies Lash Lift Mascara is an innovative lifting mascara that quickly adds impressive length and volume to the lashes. The fiber-infused solution and revolutionary double-curved lifting brush capture lash at the root to lift, thicken, and lengthen without clumps or smears
Grand View Research has segmented the global liquid makeup market based on the product, form, distribution channel, and region:
Liquid Makeup Product Outlook (Revenue, USD Million; 2017 - 2030)
Liquid Makeup Distribution Channel Outlook (Revenue, USD Million; 2017 - 2030)
Liquid Makeup Regional Outlook (Revenue, USD Million; 2017 - 2030)
Central & South America
Middle East & Africa
List of Key Players in the Liquid Makeup Market
Shiseido Co., Ltd.
Benefit Cosmetics LLC
Estée Lauder Inc
The Avon Company
KIKO USA, Inc.
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