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The nail care products market size is estimated to grow by USD 6.77 billion at a CAGR of 5.01% between 2022 and 2027. The growth of the market depends on several factors, including the availability of non-toxic solutions for nail care, expansion of the distribution network, and growing customer engagement through digital media platforms. The market share is growing due to the rising popularity of home salon services. App-based providers offering at-home grooming, like Housejoy in India, are driving the demand for nail care products such as nail polish removers and new nail polish shades. This trend is expected to continue supporting market growth in the forecast period.
It also includes an in-depth analysis of market growth and trends and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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This report extensively covers market segmentation by product (nail polish, nail accessories and implements, nail polish remover, nail strengthener, and others), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The market share growth by the nail polish segment will be significant during the forecast period. companies are launching new product lines in this category. As most consumers prefer quick-dry features in gel-like polishes and long-wear nail lacquers, manufacturers launch different collections on a seasonal basis and focus on glossy and long-lasting nail paints.
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The nail polish segment was valued at USD 13.72 billion in 2017. companies that offer trendy nail polish colors and shades are expected to register higher sales compared to their counterparts. Some of these colors include creamy blue, soft red, royal dark teal, milk chocolate, and glossy fuchsia. For instance, Coty Inc. offers the milk chocolate shade of nail polish. Similarly, LOreal SA offers Royal Dark Teal nail polish shade. Such product offerings are expected to increase sales during the forecast period.
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APAC is estimated to account for 42% of the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The penetration of nail products is high in APAC. The region has some of the top brands such as Shiseido Co. Ltd. (Shiseido), The Estee Lauder Co. Inc., LOreal SA, and Revlon Inc. These brands have a considerable presence in countries such as China, Japan, Australia, South Korea, India, and Indonesia. The trend of nail art and the use of artificial nails and accessories in APAC has further attracted many companies to this region.
The market is thriving, driven by a blend of fashion trends and technological integration. Social media platforms play a pivotal role, influencing Millennials and the Gen-Z population. Consumers, including working women and college-going girls, seek organic products while avoiding synthetic products, parabens, and phthalates. Demand for virtual try-on experiences is rising, reshaping the market. Beauty salons and beauticians are crucial in promoting personal grooming. Products like strengtheners, cuticle creams, and those for manicures and pedicures are popular, reflecting a culture that values appearance and self-care. Rising disposable incomes fuel the market, with services like Dip Powder Manicures gaining traction in nail salons.
The market is experiencing growth driven by the availability of non-toxic solutions. Customers are increasingly concerned about the health of their nails, leading them to seek out non-toxic and natural alternatives. Toxic chemicals in nail products can indeed cause various health issues, including cancer, nail brittleness, yellowness, and skin infections. This is particularly concerning with the widespread use of synthetic products, especially among the Gen-Z population who prioritize appearance. It's important to raise awareness about the potential risks associated with these products and promote safer alternatives. To address these concerns, companies like Karma Organic Spa, ZOYA, and Essie offer nail polishes free from harmful chemicals like toluene, formaldehyde, and dibutyl phthalate (DBP). Some brands are specifically focusing on providing non-toxic and organic solutions to attract health-conscious customers. These factors are expected to continue driving market growth in the forecast period.
The growing adoption of home salon services is a major trend in the market. The trend of personalized home salon services is gaining traction in regions like North America, Europe, and APAC. In the past decade, there has been a significant increase in the number of app-based salon service providers offering grooming services at customers' homes. These mobile apps allow users to book salon services and have makeup artists come to their specified location. The market features several home salon service providers, with companies like Housejoy in India offering a range of services including nail care, grooming, and spa treatments. To encourage repeat business, Housejoy offers various grooming and pampering packages such as the Monthly Essential Package, Monthly Grooming Package, Tip to Toe Package, and Manicure.
The availability of counterfeit nail care products may impede market growth. The sales volumes of genuine nail care brands are impacted by the presence of counterfeit products, which pose various challenges. Not only can counterfeit items raise health concerns, but they are also challenging to distinguish from authentic products. These counterfeit goods are available across different categories, including nail polishes, polish removers, artificial nails, and other nail accessories. They are often sold at lower prices to appeal to price-sensitive customers, affecting the pricing strategies of established market players. These factors are expected to pose challenges to market growth in the foreseeable future.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2023 to 2027, as well as historical data from 2017 to 2022 for the following segments
The market is evolving rapidly, driven by trends like virtual try-on experiences and a shift towards organic ingredients. Consumers, especially young women and Millennial women, prefer products with grape seeds, sea buckthorn, and other natural extracts. DIY trends and the popularity of nail spas are reshaping the market. Products like instant Mani press-on nails, glitterbels, and Hema-free gel polish are gaining traction, especially in the household segment. Retail stores, including pharmacies and supermarkets, are key distribution channels, with online sales and social media marketing playing significant roles. Influencers and celebrities influence consumer choices, driving demand for nail arts and pedicure products. E-commerce portals and subscription boxes cater to the growing demand, particularly in developing countries and rural areas.
Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.01% |
Market growth 2023-2027 |
USD 6.77 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.95 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 42% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
American International Industries, Amorepacific Corp., Amway Corp., Beiersdorf AG, Brandloft Ltd., CHANEL Ltd., Coty Inc., Edgewell Personal Care Co., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, Nails.INC Ltd., Natura and Co Holding SA, Olive and June LLC, Oriflame Holding AG, Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Co. Inc., Unilever PLC, and The Procter and Gamble Co. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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