The present invention provides a liquid dispersion capable of stably maintaining the dispersed state for a long time and suitably applicable to both O/W type cosmetic products and W/O type cosmetic products. The present invention also provides a cosmetic raw material containing the liquid dispersion and a cosmetic product containing the liquid dispersion. The present invention provides a liquid dispersion containing a polyol (A)； a nonionic surfactant (B)； and a hydrophobized inorganic powder (C), wherein the water content in 100% by mass of the liquid dispersion is 1% by mass or less.
