Nail Care Products Market to Grow by USD 5.96 Billion (2023-2028), Segmented by Product, Channel, and Geography, with AI-Powered Market Evolution - Technavio

NEW YORK, Dec. 10, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global nail care products market size is estimated to grow by USD 5.96 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 4.3% during the forecast period. The report provides a comprehensive forecast of key segments below- 

Segmentation Overview

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

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1.1 Fastest growing segment:

The nail polish segment dominates the global nail care products market, generating significant revenue. Quick-dry and gel-like polishes, as well as long-wear nail lacquers, are popular choices among consumers. Vendors introduce new product lines, focusing on producing glossy and long-lasting nail paints. Trendy color shades, such as creamy blue, soft red, royal dark teal, milk chocolate, and glossy fuchsia, are in high demand. Companies like Coty Inc. And L'Oreal SA cater to this trend by offering these shades. Vendors that keep up with fashion trends are expected to experience increased sales in the forecast period.

Analyst Review

The Nail Care Products market is thriving, driven by the growing popularity of Nail Polishes, Nail Art, and the fusion of Fashion and Appearance. Social media platforms have played a significant role in this trend, with users sharing their creative Nail Art designs and inspiring others. Technological integration is also transforming the industry, offering Virtual Try-On experiences for customers to test out different shades before purchasing. Synthetic products are gaining traction due to concerns over Parabens and Phthalates, while Millennials, Gen-Z population, Working Women, and College-going girls continue to fuel demand for these Grooming Products. Beauty Salons and Beauticians remain key players in the industry, offering Manicures, Pedicures, and Dip Powder Manicures to cater to the increasing disposable incomes of consumers. Nails have become an essential part of personal grooming, with a wide range of Nail Polishes, Strengtheners, Removers, Cuticle Creams, and other accessories available to maintain healthy and stylish nails.

Market Overview

The Nail Care Products market is thriving, driven by the fashion-conscious young women and millennial population's desire for trendy manicures and nail art. Social media platforms have become a significant marketing tool, with influencers and celebrities showcasing the latest nail trends. Technological integration is a key trend, with virtual try-on experiences and mobile-based apps offering a convenient shopping experience. Synthetic products are gaining popularity, with an increasing preference for paraben-free, phthalate-free, and petrochemical-free formulas. Organic ingredients, such as grape seeds, sea buckthorn, apricot active extracts, green tea, and rosemary, are being used in nail care products. The market caters to various segments, including retail stores, beauty salons, pharmacies, company-owned stores, and online sales. DIY trends are also popular, with an increase in sales of DIY nail kits and accessories. The market is not limited to urban areas but is also expanding to developing countries and rural areas. Consumers are becoming more conscious of the ingredients used in nail care products, leading to a demand for clean label and vegan certified products. The market is diverse, with offerings ranging from nail polishes, strengtheners, removers, cuticle creams, manicures, pedicures, and personal grooming products. Gel-based manicures, dip powder manicures, chrome nails, French tips, and DIY nail art are popular trends. The market is expected to continue growing, driven by changing lifestyles, increasing disposable incomes, and fashion-driven demand. Big box retailers, private label brands, and indie brands are all competing for a share of this market. E-commerce portals, subscription boxes, and seasonality are also significant factors influencing market growth.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis

11.1 L'Oréal Groupe
11.2 AMERICAN INTERNATIONAL INDUSTRIES
11.3 Coty Inc
11.4 Olive & June
11.5 ORLY International, Inc
11.6 The Estée Lauder Companies
11.7 Creative Nail Design Inc
11.8 NSI Nails
11.9 LCN USA
11.10 Cosnova GmbH (essence)
12 Appendix

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SOURCE Technavio