Nail Care Products Market Share, Size, Trends, Industry Analysis Report, By Product (Nail Polish, Artificial Nail & Accessories); By End Use; By Region; Segment Forecast, 2022 - 2030
- Published Date:Nov-2022
- Pages: 115
- Format: PDF
- Report ID: PM2789
- Base Year: 2021
- Historical Data: 2018-2020
Report Outlook
The global nail care products market was valued at USD 19.10 billion in 2021 and is expected to grow at a CAGR of 5.27% during the forecast period.
The nail care products market is anticipated to grow robustly due to rising fashion and beauty consciousness among millennials and the Gen-Z population. The increasing disposable income of working women and the rising number of college-going girls tend to spend more on grooming products which will contribute to rising product demand globally.
Know more about this report: Request for sample pages
Recently, the adoption of beauty salons has been increasing due to the rising demand for wellness solutions, reducing stress from a busy lifestyle. The beauticians present in the beauty salons and parlors give advice and information related to nails, thereby propelling the market growth.
Nail care products is an emerging segment part of women’s beauty and personal care sector; the trend of frequent change of nail colors will provide significant opportunities for the key players for the market growth to introduce products in various colors with long-lasting and quick drying feature. Poor nail care accumulates germs and other pathogenic organisms behind nails. Thus, nail care has become a significant aspect of appearance as well as hygiene concern among consumers.
An increase in the popularity of gel-based manicures is expected to revolutionize the market. Manufacturers in the industry are focused on the innovation of nail care products which are moisturizing, strengthen, and smooth the hand and toenails, with the introduction of products such as nail cleansers and moisturizers, especially for elder clients.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the market. The emergence of the deadly virus has stimulated the consumer's desire to not visit the salons for grooming sessions. Consumers started spending more time at home, which slowed down the demand for these products worldwide.
The onslaught of the pandemic had an adverse impact in countries including the U.S., India, Brazil, Russia, the U.K., Spain, etc. The supply of raw materials and ingredients for manufacturing nail care has been disrupted. However, the market will gain traction owing to the increased penetration of internet and nail care trends on social media platforms such as Instagram, Pinterest, and YouTube.
Know more about this report: Request for sample pages
Industry Dynamics
Growth Drivers
Changing lifestyles worldwide are expected to propel market growth. The majority of women are exposed to influencers and celebrities of beauty, lifestyle, and fashion. They are increasingly focusing on their personalities and looks and hence spend money on grooming. Women also desire to experiment with nail art to have fun and add style to their personalities.
The entertainment media plays a significant role in the rising sales of nail care products. In April 2022, Lottie. London, a vegan, and cruelty-free makeup brand, launched a collection of press-on nails in collaboration with celebrity manicurist Chaun Legend. Legend is known to create manicure masterpieces for high-profile celebrities, including Rihanna, Khole Kardashian, and Cardi B, among others.
Further, technological advancements and rising internet penetration have led to easy access to YouTube, Instagram, and Pinterest have made it easy to reach out to a larger audience and increase their market share by great numbers. The increasing party culture in emerging countries such as India, wearing different shades of nail lacquers at official and unofficial events, encourages consumers to purchase multiple shades of nail coloring products.
Moreover, increasing self-care awareness and keeping their nails in shape among women, as well as their capability to afford and spend on these products, will drive product demand and register double-digit growth over the forecast period.
Report Segmentation
The market is primarily segmented based on product, end use, and region.
|
By Product |
By End Use |
By Region |
|
|
|
Know more about this report: Request for sample pages
Nail Polish segment is expected to dominate the market in 2021
Nail polish dominates the market and maintains its position as it has become one of the significant beauty products among women. Nail polish consumers encourage manufacturers to launch new product lines in the category of long-lasting & quick drying and various colors of nail lacquers. Manufacturers focus on launching different nail polish collections on a seasonal basis, such as party wear, festive & holiday seasons, and emphasize producing glossy, long-lasting, and quick-drying nail polishes.
Natural and non-toxic nail polishes will gain traction among consumers in the near future, owing to the rising environmental concerns worldwide. The use of organic and naturally produced ingredients for the manufacturing of nail polish will rise in the forthcoming years.
Moreover, artificial nails and accessories will expand at the fastest rate over the forecast period owing to their easy application and awareness among millennials and Gen-Z population. In April 2022, Lottie, a U.K.-based nail products brand, collaborated with Chaun Legend, a manicurist, to launch a collection of gel finish presses on artificial nails.
Household sector is expected to hold the significant revenue share
Nails are a highly important factor for women helping them elevate their personality and build confidence. Owing to rapid urbanization and rising disposable income, women involve themselves in taking care of their bodies and feeling good. Thus, they pamper their nails with easy yet effective nail care products and be creative with DIY nail kits. Women pamper themselves at home and seek these products by watching several YouTube and Instagram tutorials available by makeup influencers.
Additionally, online sales are increasing due to the rising influence of social media marketing and retailers offering free product delivery with easy returns, easy payment methods with cash on delivery options, and the availability of various local and international brands.
With the inventions of multiple manicure and pedicure centers, the salon segment will witness highest CAGR over the forthcoming years. The number of salons providing professional services is growing rapidly worldwide. Women with high-paying jobs are splurging on pampering themselves at salons and beauty centers as a part of their self-care and self-love practice. They prefer to get manicures or pedicures done by professionals.
Women lead social and active life along with their busy and hectic schedules; they tend to go to salons to relax and opt for various services for the maintenance of their looks, including hands and toes. With the rising number of home salon service providers, the market is expected to witness high sales in the near future.
The demand in North America is expected to witness significant growth
The region is anticipated to dominate the global market throughout the forecast period due to many factors, such as a surge in the adoption of advanced technologies in different nail care products, including nail varnishes with special effects in bold colors and long-lasting manicures. Furthermore, the fashion reality shows such as America’s Next Top Model, Next in Fashion, Project Runway, etc. influence women to groom themselves and motivate them to keep their fingers and toenails in good form, thus surging in consumption of nail care products.
Social media influencers such as Kaushal Beauty and Huda Kattan influence women of millennials and Gen-Z generation to keep up with today’s trends and improve their lifestyles. Hence, the demand for nail care products will likely rise over the forecast period.
Asia Pacific is expected to be the fastest-growing global market over the forecast period. The increasing popularity of nail arts and nail care trends, along with new product launches in emerging nations such as India, China, and Indonesia, will positively impact the market growth. In October 2021, Ciate London made its way to the Indian market by launching gel-based paints in various shades on the Nykaa.com beauty platform.
Competitive Insight
Some of the major players operating in the global market include, American International Industries, Barielle, OPI Products, Creative Nail Design, Delia Cosmetics, Fiabila, IL Cosmetics, L'Oréal Group, Coty, Olive & June, Estée Lauder Companies, NSI Nails, and Cosnova.
Recent Developments
In September 2021, Creative Nail Design Inc., a U.S.-based company of professional nail products and services, launched its holiday collection of nail polish. The collection is available in CND SHELLAC Gel Polish and CND Long Wear Polish in shades including gold, red, pale pink, warm white, a glittery mauve, and a deep navy. The shades are light and emphasize on optimize and self-expression and providing a sense of balance amid well-being and elegance.
In May 2022, Magnum Ice collaborated with a British sovereign female-founded brand, Nails Inc. The duo launched a range of chocolate smelled nail polish inspired by Magnum’s Duet Bar,s available in 2 different types of chocolate in three flavors Almond, Chocolate and Cookie. Magnum ice cream in collaboration with Nails.INC launched three sets of nail lacquers in creamy shades, encouraging consumers to indulge in nail art and experiment with its own creativity, creating its own layers.
Nail Care Products Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2022 |
USD 19.79 billion |
|
Revenue forecast in 2030 |
USD 29.85 billion |
|
CAGR |
5.27% from 2022 - 2030 |
|
Base year |
2021 |
|
Historical data |
2018 - 2020 |
|
Forecast period |
2022 - 2030 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
|
Segments Covered |
By Product, By End Use, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
|
Key Companies |
American International Industries, Barielle Ltd., California Chemical Specialties, Chroma Durlin (NV Organics), CNC International B.V., OPI Products, Inc., Creative Nail Design, Inc., Delia Cosmetics, Fiabila S.A., IL Cosmetics Group, Kirker Enterprises, Inc., L'Oréal Group, Coty Inc, Olive & June, ORLY International, Inc., The Estée Lauder Companies, NSI Nails, LCN USA, Cosnova GmbH, and Polychromatic (Keystone Research & Pharmaceutical Inc.) |
© 2024 Polaris Market Research and Consulting. All rights reserved
