The global water gels market size is anticipated to grow to a valuation of US$ 29 billion in 2023, and is projected to exhibit a compound annual growth rate (CAGR) of 6.9% from 2023 to 2033 and reach US$ 56.5 billion in 2033.
Consumers aim to stay hydrated inside out to improve their wellbeing and enhance the appearance of their skin According to recent research; in the US more than 50% of women consider being properly hydrated has a huge impact on their appearance.
Water gel moistures such as Clinique 72 hr auto-replenishing hydrators focus on enhancing the skin’s natural hyaluronic acid production to leave skin fresh and reduce fine lines. As such, with the rise in demand for hydrating compositions, the water gels market is anticipated to grow in the approaching years.
Several face cream tends to include heavy compositions and oils which don’t play nice to the skin, particularly in summers. Consumers look forward to lightweight yet still hydrating, gel formulas incline to work well with oily skin since they’re water-based, which is why they’re stated as water creams or water gels.
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Water Gel Market – Key Drivers and Developments
Water gel based products are exceptional options for individuals as they weigh less when compared with a rich moisturizer. The skin quickly soaks up the product, making them a good base. They are particularly helpful for individuals with oily or acne-prone skin, as they don’t add oil to the skin’s already-oily surface, thus making them most effective for all skin types.
The product compositions are free of surfactant materials that are conventionally added in lotion compositions and cosmetic cream to emulsify a water-insoluble oily phase. Moreover, several Vitamins and derivatives are added to the composition which is inflating the market scope.
Manufacturers are focusing on gel compositions with remarkable pigment and/or filler dispersibility and stability, having a good appearance, offering a sense of coolness and refreshment without stickiness, and with exceptional applicability and fitness to the skin when compared to conventional gel compositions.
For instance, Neutrogena’s Hydro Boost Water Gel, a favorite among consumers and rated over 1400 stars reviews on Amazon, the alcohol-free moisturizer is prepared with hyaluronic acid to draw moisture to the skin without feeling heavy or sticky.
Consumers’ preference towards eco-friendly products has further the market demand for water gels. A group of researchers from Japan has made an α-gel with a compound matching a key component of the moisture-holding layer on the skin. The α-gel makes possible effective skincare and eco-friendly products with low energy costs.
Water Gel Market – Growth Restraints
Thin and lightweight, water gel based products provide enough hydration for most skin types, however, for dry skin or with a skin condition such as eczema, it might not moisturize as well as a cream. This can hamper the water gel market growth.Furthermore, the high cost of water gel based products can impede market growth over the years to come.
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COVID-19 Impact Analysis
As the COVID-19 pandemic has progressed within and across regions, the water gel market has been shocked by the crisis. Widespread store closure has led to sluggish sales. However, the market is responding optimistically to the crisis, by switching their production to manufacture hand sanitizers and cleaning agents.
With the closure of premium beauty products store/outlets due to the crisis, an increase in online sales is reportedly up by around 30%. Manufacturers are turning to promotions and offering online discounts to help move the unsold seasonal stock. Manufacturers are likely to collaborate as well as M&A to pace up the innovation and to find new sources of capital, amid the crisis.
Water Gel Market – Region-wise Analysis
North America preserves its leadership primarily owing to huge penetration and marketing of personal care products are changing the lifestyles of consumer via e-commerce and in-store platforms. Moreover the region houses majority of the rapidly growing market giants.
Europe is expected to witness rapid growth due to the presence of large market players focusing on product development, market research, and regulatory compliance respectively. According to a report, the region has more than 77 scientific innovation facilities that research concerning cosmetics and personal care.
The Asian region has shown impressive growth over recent years in the production and consumption of water gel products due to the existence of several potential markets such as Japan, India, South Korea, and China are fuelling the need for personal care products.
Recent researches suggested that the region captures over 40% of global beauty and personal care launches with the hydrating claim.
Water Gel Market – Competitive Analysis
Some of the major market players operating in the global water gel market include Neutrogena (Johnson & Johnson), Olay (Procter & Gamble), The Estée Lauder Companies Inc., CeraVe, Lancôme, and Clarins.
The overall competition is anticipated to remain high during the forecast period owing to the increasing demand for eco-friendly products. Several manufacturers are focusing on research and development, merger and acquisitions, and market expansion to strengthen their competitive strength.
The Estée Lauder Companies Inc. took over the Seoul based Have & Be Co. Ltd., the worldwide skincare company behind Dr. Jart+ and men’s grooming brand Do The Right Thing. The acquisition will help the former to boost its market presence in the South Korea region.
Lancôme opens the new Champs-Élysées flagship store offering all of its products with production personalization included in the shopping experience. Moreover, the brand has scheduled the opening of another flagship store in Beijing, China, in 2020.
Water Gel Market – Segment Analysis
The global water gel market is categorized on the basis of following:
By Components
- Water- Soluble Humectant
- Hydrophilic Gelling Agent
- Silicon Component
- Water-oil repellent Agents
By Distribution Channels
- On-line Platforms
- Speciality Stores
- Supermarket & Hyper Market
- Others
By Region
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
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