According to the latest report by Reports and Data, the Nail Polish Market had a global size of USD 13.11 Billion in 2021 and is expected to witness a revenue CAGR of 8.5% over the forecast period. The market's revenue growth is primarily driven by the increasing number of beauty salons and beauticians. The rise in beauty and nail salons has prompted more women to experiment with nail care products and techniques such as pedicures and manicures. A significant proportion of the female population relies on beauty salons for their nail and makeup services, including nail extensions and nail art to match their outfits for various occasions. Many salons have skilled professionals who suggest different types of procedures to their clients. Additionally, numerous beauty salons offer customer loyalty programs that provide attractive discounts, leading to an increase in the number of women visiting salons. Finally, the availability of various nail art styles and home visit services, which follow healthy working conditions, is expected to drive revenue growth in the market.
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Top Companies Operating in the Global Nail Polish Market Report:
Bio Sculpture, American International Industries, Barielle, Colorbar Cosmetics Pvt. Ltd., L'Oréal Group, Fiabila, Henkel AG & Co. KGaA, RPM International, Inc., IL Cosmetics Group SA, and Estée Lauder, Inc.
Some Key Highlights From the Report
- The nail polish segment is expected to register a rapid revenue growth rate during the forecast period owing to increasing need for strengthening nails and cleaning cuticles. Women prefer to polish their nails as it beautifies their hands. In addition, rising adoption of self-care routines has facilitated necessity of polishing nails, which helps nails grow longer and stronger, improving mental confidence.
- The economy segment is expected to register a steady revenue growth rate during the forecast period owing to increasing use of nail care products in everyday life. Women increasingly use nail care products on every occasion, therefore they prefer budget-friendly products to satisfy their daily needs, which drives demand for economy nail care products. Besides, highly priced manicures and pedicures are reserved for special occasions.
- The online platform segment is expected to account for largest revenue share over the forecast period owing to availability of a wide variety of products at low prices. Customers are increasingly relying on online platforms for faster purchasing processes and flexibility. In addition, online purchasing also provides real reviews from customers, enabling customers to compare different products, which saves their time and enables them to make informed decisions.
- The women segment is expected to register a rapid revenue growth rate during the forecast period due to growing fashion trends resulting in women adopting nail care products. In addition, increasing health consciousness among women for necessary care for skin, cuticles, nails, and nail beds is expected to contribute to revenue growth of this segment. Also, women consider well-maintained nails to be an outward sign of health, femininity, and social status.
- The Asia Pacific market is expected to account for largest revenue share in the global market during the forecast period due to rising trend of enhancing personal appearance and beauty consciousness. Higher number of working women and college girls who tend to spend more on appearance is expected to increase adoption of nail care products. According to research, 33% of the total population in India are working women. In addition, growing party culture and a wide array of festivals and functions in countries, such as India and China, have increased adoption of nail art and nail polish, which is expected to drive revenue growth of the market.
Key Regional Markets Covered in the Report:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Further market segmentation
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Nail Polish
- Nail Polish Remover
- Nail Primers
- Nail Extensions
- Manicure Products
- Pedicure Products
Price Range Outlook (Revenue, USD Billion; 2019-2030)
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Beauty Stores
- Online Platform
End-use Outlook (Revenue, USD Billion; 2019-2030)
Key Takeaways of the Global Nail Polish Market Report:
· A comprehensive overview of the global Nail Care industry.
· Accurate market projections in terms of market size, share, and volume.
· Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
· Deep-dive analysis of the upcoming market trends.
· Qualitative and quantitative analyses of the global Nail Polish Market.
· Elaborate study of the leading regional markets in the global Nail Polish Market.
· Complete overview of the market’s competitive landscape.
· Brief look at the company profiles and portfolios.
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