Nail Care Products Market size is set to grow by USD 5.96 billion from 2024-2028, Availability of non-toxic solutions for nail care to boost the market growth, Technavio

NEW YORK, July 1, 2024 /PRNewswire/ -- The global nail care products market size is estimated to grow by USD 5.96 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.3% during the forecast period. Availability of non-toxic solutions for nail care is driving market growth, with a trend towards growing adoption of home salon services. However, availability of counterfeit nail care products poses a challenge. Key market players include 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 Cosmetics S.A., Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Companies Inc., The Procter and Gamble Co., and Unilever PLC.

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Key Market Trends Fueling Growth

The personalized home salon service trend in North America, Europe, and APAC regions has led to a notable increase in the demand for nail care products. With the rise of app-based salon service providers like Housejoy, consumers can easily order grooming services and receive them at their doorstep. These offerings include various packages, such as the Monthly Essential Package and Manicure, which boost the consumption of products like nail polish removers, massage creams, and new polish shades. Consequently, the market for nail care products is anticipated to experience substantial growth during the forecast period. 

The nail care products market is thriving with various offerings, including polishes, bases, primers, and treatments. Organic and natural ingredients are in high demand, such as alumina, millets, and rosemary. Seats are filled with tech-savvy consumers seeking innovative products like quick-dry polishes, long-lasting manicures, and peel-off bases. Supermarkets and online retailers stock a wide range of products, catering to diverse consumer preferences. Producers focus on sustainability and eco-friendliness, while retailers promote marketing strategies to attract customers. The market is projected to grow significantly, driven by consumer trends and technological advancements. 

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Market Challenges

• In the global nail care products market, counterfeit and imitated products pose challenges for established vendors. These products, found in categories like nail polish, removers, and accessories, impact sales volume and brand penetration. Unregistered local manufacturers offer lower prices, attracting price-sensitive customers. Top brands like OPI and Essie face adverse effects from counterfeits in mass markets, especially developing ones. The low production cost of counterfeits creates pricing pressures for existing vendors, potentially hindering market growth.
• The Nail Care Products market faces several challenges. Nails and polishes, nails and creams, and nail strengtheners are popular categories. However, consumers seek durable and long-lasting products. Disposable boxes and brushes, as well as difficult application processes, can deter some buyers. Removers, artificial nails, and manicure sets also present competition. Consumers demand eco-friendly and cost-effective options. Brands must address these challenges to capture market share. Diversifying product lines, improving application methods, and offering sustainable solutions can help businesses succeed.

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Segment Overview 

This nail care products market report extensively covers market segmentation by

1. Product 
• 1.1 Nail polish
• 1.2 Nail accessories and implements
• 1.3 Nail polish remover
• 1.4 Nail strengthener
• 1.5 Others
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Nail polish- The nail polish segment dominates the global nail care products market, driving significant revenue. Consumers favor quick-dry, gel-like polishes and long-wear lacquers. Seasonal collections with glossy finishes and trendy colors, such as creamy blue, soft red, royal dark teal, milk chocolate, and glossy fuchsia, are in high demand. Brands like Coty Inc. And L'Oreal SA cater to this trend with unique shades, contributing to increased sales.

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Research Analysis

The Nail Care Products Market encompasses a wide range of offerings, including nail polishes, nail art supplies, strengtheners, removers, cuticle creams, and various grooming products. This market caters to diverse demographics, such as millennials and Gen-Z population, who value fashion and social media platforms for showcasing their unique nail art creations. Technological integration plays a significant role in the industry, with virtual try-on experiences allowing consumers to preview nail polish shades before purchase. Organic and synthetic products, free from parabens and phthalates, are increasingly popular among working women and college-going girls, prioritizing personal grooming and self-care. The market also includes services offered at beauty salons by beauticians, providing manicures, pedicures, and dip powder manicures, further expanding the market's reach. Disposable income is a crucial factor influencing the growth of the Nail Care Products Market.

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Market Research Overview

The Nail Care Products market encompasses a wide range of offerings designed to maintain and enhance the appearance of nails. These products include polishes, base and top coats, nail treatments, cuticle care solutions, and nail strengtheners. The market caters to various consumer preferences, offering a diverse array of colors, finishes, and formulations. Nail care products are essential for personal grooming and are increasingly gaining popularity due to the growing trend of at-home beauty treatments. The market is driven by factors such as increasing awareness of personal hygiene, rising disposable income, and the availability of a vast selection of products to suit individual needs. The market is segmented based on product type, distribution channel, and geography. Nail care products are available at retail stores, online platforms, and through direct sales. The global market for nail care products is projected to grow at a significant rate in the coming years.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Nail Polish
• Nail Accessories And Implements
• Nail Polish Remover
• Nail Strengthener
• Others
• Distribution Channel
• Offline
• Online
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio