Liquid Makeup Market Report 2025

This 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.

The liquid makeup market size has grown strongly in recent years. It will grow from $8.93 billion in 2024 to $9.52 billion in 2025 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to rise of social media and digital platforms, increased awareness of skincare benefits, demand for natural and organic products, inclusive beauty movements.

The liquid makeup market size is expected to see strong growth in the next few years. It will grow to $11.69 billion in 2029 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to digitalization of shopping experience, Gen Z Influence, sustainability and eco-friendly formulation, multi-functional products. Major trends in the forecast period include vegan and cruelty-free formulations, technology integration, product innovations, partnerships.

The increasing awareness of personal grooming is expected to propel the growth of the liquid makeup market going forward. Personal grooming is keeping one's body clean, maintaining hygiene, having well-groomed nails and hair, avoiding body odor, and dressing appropriately. It arises due to various factors, including social influences, professional expectations, and self-confidence. Liquid makeup is commonly used in personal grooming due to its versatility, ease of application, and ability to provide various finishes and coverage options while helping individuals enhance their natural features. For instance, in October 2022, a survey of 1000 men and women in the US conducted by the New York Post, a US-based newspaper, about the differences in how both genders take care of their hygiene discovered that while 73% of men and women stated taking care of their hygiene is simple, only one in ten women agreed. The majority of people (90%) favor washing their hands and bodies over brushing their teeth (87%) or using deodorant (84%). Men are more likely to maintain a schedule for trimming their nails (69%) and shaving their faces (74%). In contrast, women are more likely to prioritize bathing their 'intimate areas' (85%) and their skincare regimen (84%). Therefore, the increasing awareness of personal grooming is driving the liquid makeup market.

Major companies operating in the liquid makeup market are concentrating on innovative products, such as G-Suite, to boost their profitability in the market. It is a luxurious vegan lipstick with a unique buttery, demi-matte formula that offers opaque coverage with just one swipe. For instance, in April 2023, Glossier, a US-based makeup and skincare company, launched G-Suite lipstick. It combines a rich blend of emollient oils for smooth, lasting wear without settling into lips and is available in nine vibrant shades. The product, which took three years to perfect, features a soft-touch, silicone-inspired texture in a signature pink tube with a convenient shade-revealing window and an easy-to-use doe foot applicator. It has garnered acclaim for its comfort, moisture, longevity, and universally flattering colors. Additionally, it features skin-friendly ingredients such as rose wax silica, black raspberry seed oil, Ashland's Orchid Complex, and shea butter.

In February 2022, Revolution Beauty Group, a US-based personal care product company, acquired BH Cosmetics for $3.9 million. This acquisition aimed to boost Revolution Beauty's growth, particularly in the US, by capitalizing on BH Cosmetics' brand recognition, target audience, and product offerings while achieving operational efficiencies. BH Cosmetics is a US-based cosmetics company that specializes in offering color makeup and brushes.

Major companies operating in the liquid makeup market are LVMH Moet Hennessy Louis Vuitton SE, Unilever PLC, L'Oréal S.A., Estee Lauder Companies Inc., Chanel S.A., Kao Corporation, Shiseido Company Limited, Natura & Co Holding SA, Coty Inc., Ryohin Keikau Corporation, Amorepacific Corporation, Nu Skin Enterprises Inc., Revlon Inc., Benefit Cosmetics LLC, Fenty Beauty by Rihanna LLC, e.l.f. Beauty Inc., KIKO Inc., Nippon Shikizai Inc., KVD Vegan Beauty, Too Faced Cosmetics LLC, HUDA BEAUTY FZ-LLC, Morphe LLC, Jouer Cosmetics, Pacifica Beauty LLC, YOJIYA Co. Ltd.

Asia-Pacific was the largest region in the liquid makeup market in 2024. The regions covered in the liquid makeup market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the liquid makeup market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The liquid makeup market consists of sales of blush, highlighter, eyeliner, mascara, and setting spray. 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).

Liquid makeup refers to cosmetics with a fluid consistency, designed for application on the face. It is used to even out skin tone, conceal imperfections, and enhance features. Its liquid form allows for easy blending and buildable coverage, catering to diverse skin types and beauty preferences.

The main types of liquid makeup products are foundation, eye products, concealer, lip products, and others. The foundation is a makeup product applied to the face to create an even, uniform color for the complexion and to cover flaws. They are used by both genders, men and women, and distributed through various channels, such as online and offline.

The main types of liquid makeup products are foundation, eye products, concealer, lip products, and others. The foundation is a makeup product applied to the face to create an even, uniform color for the complexion and to cover flaws. They are used by both genders, men and women, and distributed through various channels, such as online and offline.

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.

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