The nail care market comprises products and services related
to nail art, nail coloring, nail extensions, and more. Nail art products
include nail polish, nail paints, nail stickers, and other nail accessories
that help beautify and enhance nail appearance. The demand for nail care
services like manicures, pedicures, gel/acrylic nail art, nail filling, and
more has also increased tremendously. Nail care products and services provide
an easy way for people to express their personality and style. Growing female
workforce, rising disposable incomes, and increasing beauty consciousness among
people of all ages have propelled the demand for nail care products and
services globally.
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 2031.
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’Oreal Group, Nestle S.A.. These players are
focused on expanding their product portfolios with new and innovative nail care
launches. For instance, Revlon recently launched a line of gel nail polish
named Gel Envy that offers salon-quality shine without UV lamps or drying time.
A major opportunity in the
Nail
Care Market Trends lies in nail art and nail art services. Customized
and intricate nail designs are trending globally especially among young
consumers. Nail studios are coming up with new types of nail art designs using
items like embellishments, stickers, studs, and more to satisfy consumer
interest.
In terms of geographic expansion, North American and
European players are focusing on establishing operations in Asia Pacific and
Latin American regions where demand for premium nail care products and services
is growing at a robust pace due to increasing disposable incomes. Local players
in India, China, Brazil, and Mexico are also expanding aggressively through new
retail stores and service centers.
Market drivers
Increasing beauty consciousness is a major market driver.
Growing exposure to western pop culture and rising disposable incomes have made
grooming and personal care important for people globally. Nail care has emerged
as an affordable and trendy way for people to look stylish and well-groomed.
Another key driver is growing urbanization and women
workforce participation. Women in urban areas and professionals have greater
opportunities and demand for self-grooming products and enhancing overall
appearance which presents an opportunity for nail care products.
Market restraints
Availability of cheaper counterfeit nail care products is a
major restraint. Unauthorized manufacturers selling low-quality nail polishes
and other products at competitive prices can hamper sales and brand value of
recognized brands. This acts as a hindrance for market growth.
Volatility in raw material prices also poses a challenge.
Key raw materials for nail care products like pigments, solvents, and resins
witness price fluctuations depending on market demand-supply forces which
increases input costs for manufacturers.
Segment
Analysis
The nail care market comprises of nail color cosmetics, nail
treatment, and nails accessories sub-segments. Among these, the nail color
cosmetics sub-segment dominates the market. This is because nail paints are a
basic part of people's regular grooming and fashion routine regardless of age,
gender, or occasion. Nail paints are available in various shades, textures and
formulations that allow users to experiment and change their looks frequently
as per their mood or outfit of the day. The advent of long-lasting, non-toxic
nail paints further boosted the consumption of nail colors.
Global Analysis
The Asia Pacific region is currently the fastest growing as well as dominating
regional market for nail care. This is attributed to increasing awareness and
focus on beauty and personal grooming among millennials and Gen Z generations
in emerging nations like India and China. Changing lifestyle patterns and
urbanization have boosted the sales of premium nail care products in these
countries. Moreover, the presence of key producers and availability of raw
materials at competitive prices in Asia Pacific is driving the regional market
growth. North America currently accounts for a significant share due to high
spending capabilities and early adoption of new beauty trends.
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Insights on- Nail
Care Market
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