Provided herein are wet powder compositions which include a pearlescent pigment, a film-forming edible polymer and from about 1% to about 30% by weight water. The wet powder compositions may be used to make pearlescent film coating suspensions which include a pearlescent pigment, a film-forming polymer, a plasticizer and from about 70% to about 95% water. The pearlescent film coating suspensions may be used to coat edible products, such as pharmaceuticals, confectionary products and food products. Also disclosed are methods of making the wet powder compositions and the pearlescent film coating suspensions.