Liquid Makeup Market Report 2026

The liquid makeup market size has grown strongly in recent years. It will grow from $9.46 billion in 2025 to $9.96 billion in 2026 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to growing cosmetic consumption, rising fashion awareness, increasing beauty retail expansion, early adoption of liquid beauty formats, rising acceptance of makeup usage.

The liquid makeup market size is expected to see strong growth in the next few years. It will grow to $12.17 billion in 2030 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to increasing demand for premium beauty formulas, growing focus on flawless finish cosmetics, rising everyday makeup usage, expansion in female working population grooming, increasing innovation in cosmetic textures. Major trends in the forecast period include increasing demand for smooth blendable makeup formulations, rising preference for natural finish and lightweight makeup, growing focus on skin tone correction and coverage products, expansion of daily use makeup adoption, strengthening influence of beauty and fashion lifestyle.

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 September 2024, according to the U.S. Bureau of Labor Statistics, a US-based Department of Labor, average personal care products and services expenditures of all consumer units were $950 in 2023, up from $866 in 2022. 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 July 2024, Givaudan, a Switzerland-based fragrance and beauty-ingredients company, acquired b.kolor Makeup & Skincare for an undisclosed amount. Through this acquisition, Givaudan aims to expand its presence in the global color-cosmetics and skincare market by integrating b.kolor’s advanced formulation and manufacturing expertise into its Beauty & Wellbeing division. b.kolor Makeup & Skincare is an Italy-based company that develops and produces a wide range of makeup and skincare products, including various types of liquid makeup.

Major companies operating in the liquid makeup market report 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 2025. The regions covered in the liquid makeup market report are Asia-Pacific, South East Asia, 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, Taiwan, 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).

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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