The nail care market consists of various nail care products such as nail polish, nail polish remover, nail strengtheners, nail paints, nail files, and others. Nail care products are massively consumed by both men and women these days for self-grooming and beautification needs. The millennial population widely uses nail care products which is a key factor driving the market growth. Nail care procedures have become massively popular owing to the rising number of nail parlors and salons coupled with the high disposable income. The advent of contemporary nail art designs, such as french manicure, acrylic nails, gel nails, among others has led to increasing use of nail care products. 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. Key players are focusing on expanding their product lines to cater to diverse nail art styles and designs. They are investing in R&D to develop innovative nail care products with added features.
There is a high scope for product innovation in the nail care space driven by evolving fashion trends. Innovation in nail art, design techniques, hybrid products present numerous opportunities for manufacturers.
The global Nail Care Market Demand players are focusing on expanding their operations in high potential regions including Asia Pacific and Latin America owing to growing disposal income and changing lifestyles. Partnerships, joint ventures, acquisitions are becoming a key strategy for multinational companies to penetrate new markets.
Market drivers:
Increased consumption among millennials: Millennials widely use nail care products for self-grooming and as per fashion trends. This age group is a major driver of the nail care market.
Rising number of nail salons: Growth in the number of nail salons and nail technicians providing contemporary nail art designs have increased consumption of nail care products.
Introduction of nail art and hybrid products: Innovations in nail art styles, gel nails, acrylic nails have boosted the demand for nail products.
Market restraints:
Presence of counterfeit products: Easy availability of cheap counterfeit nail products present online pose a threat to established brands.
Concerns regarding use of chemicals: Certain nail products contain ingredients such as formaldehyde, toluene, and dibutyl phthalate that may pose health issues with prolonged use restraining market growth to some extent.
Segment Analysis
The nail care market is segmented by nail treatment like nail colors, nail extensions, nail tips, nail acrylics, nail gel and others. Among these nail colors dominates the market owing to rising fashion trends and evolving lifestyle of population. Nail colors segment accounts for around 35% share of the total market. This is because nail colors are easy to apply and remove as compared to other nail treatments and also require less maintenance.
Global Analysis
Regionally, North America dominates the nail care market with around 30% share due to rising awareness about personal grooming and availability of advanced nail care products in the region. Asia Pacific is the fastest growing region due to the increasing spending capacity and evolving fashion trends in major economies like China and India. Countries like China, Japan and India are expected to drive the market growth in Asia Pacific region. Also, online availability and social media influence is contributing to the market growth in developing regions.
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