Nail Care Market Growth Accelerated by Rise in Concern for Self-grooming

The global nail care market is estimated to be valued at US$ 21.08 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Nail care products including nail polish, nail color, nail treatment, and others are witnessing significant demand majorly from female population. Nail polishes are available in variety of shimmering colors, texture, and formula to cater to evolving fashion and beauty trends. Growing working women population with increased disposable income is favoring adoption of nail care products to enhance personality and appearance. Moreover, products like nail strengtheners help to improve and maintain health of nails.

Market key trends:
The rise in concern for self-grooming among consumers is one of the major trends fueling growth of the global nail care market. Changing lifestyle, fashion trends, rise of social media, and increased disposable income have encouraged consumers to spend more on personal care and beauty products including nail care. Further, emphasis on personality development and physical appearance has positively impacted adoption of nail polishes, nail paints, treatments, and other beauty products. Launch of luxurious and premium nail care ranges by key players as per evolving fashion and unique nail art is attracting consumers. Innovation in terms of product attributes such as long lasting nail color, chip resistant finish, quick drying formulation is generating significant demand in the nail care market.

Segment Analysis
The global nail care market is dominated by the nail polish sub-segment. Nail polish accounts for over 40% market share in 2024 owing to rise in fashion consciousness and increasing demand for bright and shiny nail colors among consumers. The nail treatment sub-segment is expected to witness fastest growth during the forecast period due to rising awareness about nail health and hygiene.

Key Takeaways
Global Nail Care Market Size is expected to witness high growth during the forecast period of 2023 to 2030. Rapid urbanization, rising cosmetic industry and increasing spending on personal grooming are some key factors driving the market.

Regional analysis: North America region currently holds the largest share in global nail care market driven by high fashion consciousness and rise in male consumer base in countries like United States. Asia Pacific region is expected to witness fastest growth during the forecast period owing to increasing spending on premium beauty products in evolving economies like India and China. Rising middle class population and growing women workforce in the region are positively impacting the market growth.

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. These players are focusing on new product innovations and strategic partnerships to gain higher market share. For instance, Reckitt Benckiser recently acquired leading nail polish brand named Essie Cosmetics to strengthen its presence in the nail care segment.

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