The nail care market comprises products such as nail polish, nail color, nail polish remover, nail treatment, nail hardener, nail file, and other accessories such as nail paint brushes and nail polish bottles. Nail polish is the most widely used product and comes in different shades and textures such as glossy, matte, shimmery, crème, glitter, jelly, and others. Increasing demand for premium and natural nail care products, rising number of nail art studios, and growing fashion and beauty industry are major factors driving the growth of the nail care market. The Global Nail Care Market is estimated to be valued at US$ 24.29 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the nail care market are Metro AG, Kroger Company, Carrefour SA, Tesco PLC, Wal-Mart Stores, Inc., Costco Wholesale Corporation, Unilever PLC, Amway, Reckitt Benckiser Group plc, Pepsi Co, Inc., Procter & Gamble, L€TMOreal Group, Nestle S.A. The key players are focusing on expanding their product portfolio by launching innovative nail care products with natural ingredients and engaging in strategic partnerships to increase their market share.
The rapidly growing beauty and fashion industry coupled with rising disposable income is fueling the demand for premium nail care products across the globe. Improvement in living standards has led to increased spending on personal grooming and Rise of social media influencers promoting beauty trends is further propelling the growth of the nail care market.
Technological advancements such as launch of 3D nail printers, UV gel nail polishes that can last longer without chipping are attracting huge customer base. Introduction of vegan and cruelty-free products manufactured without formaldehyde, toluene, DBP, parabens and other harmful chemicals is gaining traction.
Market Trends
Increased preference for natural and organic Nail Care Market Demand products: Due to rising health concerns, there is growing demand for natural nail polishes free from toxic chemicals. Key players are focusing on launching products with natural ingredients such as plant-based oils, vitamins and botanical extracts.
Colorful and innovative nail art products: Customers want unique and trendy nail products for designer nails. Manufacturers are innovating products for advanced nail painting and art such as special effect polishes, glitter nail polishes, 3D nail art stickers etc.
Market Opportunities
Rising popularity of nail art among millennials: Millennials spend significantly on trendy nail styles and designs created by nail technicians. This presents an opportunity for nail studios to offer creative nail art services and specialized nail care products.
Increasing demand for long-lasting nail polishes: With busy lifestyles, there is demand for high-performance polishes that can last for over a week without chipping. Innovation in formula can lead to products offering durability and convenience.
Impact of COVID-19 on Nail Care Market Growth:
The COVID-19 pandemic severely impacted the growth of the global nail care market in 2020. The imposition of lockdowns across the globe led to the closure of nail salons for several months. This adversely affected the sales of nail care products such as nail polish, nail paint removers, nail strengtheners, and others. With people working from home and stepping out less frequently, the demand for indulgent nail treatments also witnessed a decline in the initial stages of the pandemic. However, as lockdowns eased, e-commerce platforms played a vital role in sustaining the sales of nail care products, thus providing some support to market players. Going forward, recovery in nail salon visits and focus on self-care are expected to help the market bounce back in the forecast period. Meanwhile, companies offering do-it-yourself nail care solutions and virtual classes gained significance during this time.
Europe dominates the Nail Care Market:
Europe accounts for the largest share of the global nail care market in terms of value sales. Countries like Germany, France, UK, and Italy have emerged as major revenue pockets for nail care product manufacturers over the years. The region's affluent consumer base that is increasingly conscious about personal grooming and stylish appearances has been driving the market growth. Furthermore, Europe hosts a vibrant nail art culture and celebrations like Christmas parties traditionally see an uptick in demand for advanced nail treatments and detailing. Even during the pandemic-induced lockdowns, DIY kits gained popularity among consumers looking to indulge in self-care activities at home.
Asia Pacific is the fastest growing region in the Nail Care Market:
The Asia Pacific region has been witnessing the fastest growth in the global nail care market over the past few years. China, India, Japan, and South Korea along with several Southeast Asian nations have become highly lucrative markets. Rising incomes, changing lifestyles, exposure to global trends, and growing workingwomen population have raised the demand for professional grooming services including fashionable nail designs. Aggressive marketing strategies by leading international brands and expanding retail infrastructure in Asia has made premium products more widely available and affordable. The region will continue attracting major new investments in the forecast period owing to high growth potentials.
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