Growing sense of self care and inclination towards fashion & beauty among women are acting as key growth drivers for global nail care market.
According to TechSci Research report, “Global Nail Care Market By Product Type (Nail Polish, Nail Accessories, Nail Strengthener, Nail Polish Remover, Artificial Nails and Accessories, Others), By Distribution Channel (Offline (Hypermarkets/Supermarkets, Retail Stores, Beauty Salon, Others), Online), By Region, Forecast & Opportunities, 2028”, the market is expected to undergo a significant CAGR during the forecast period owing to growing sense of personal grooming and self-care among consumers around the world. Moreover, increasing number of working women and rising inclination towards fashion & beauty among them is acting as major growth factors for the global nail care market. Also, increasing affordability of nail care products and entry of new market players are supporting the growth of the market.
Furthermore, rise in number of beauty salons, nail care centers and spas are leading to high demand for nail care products and introduction of new and innovative nail care products such as nail strengthener is also augmenting the demand of nail care products market, globally. Moreover, focus on personal hygiene and awareness about the ill effects of poor nail care is also making men consumers to spend on nail care products and services. However, the outbreak of COVID-19 has compelled beauty salons and nail care service providers to implement new safety protocol, which is expected to ultimately increase their operating cost, resulting in a price hike. Also, the challenges caused by this pandemic have been far reaching, especially for personal grooming sector like nail care where physical contact is inevitable.
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The global nail care market is segmented based on product type, distribution channel and region. Based on product type, the market is segmented into nail polish, nail accessories, nail strengthener, nail polish remover, artificial nails and accessories and others. Among them, nail polish segment accounted for the largest market share in 2019 as they are come in affordable rates and their consumption rate is higher in nearly all regions. Moreover, nail polishes come in various shades and are used more often, depending on different occasions.
Based on distribution channel, the global nail care market is segmented into offline and online channels. The offline channel is further segmented into hypermarkets/supermarkets, retail stores, beauty salon and others. Among them, the online segment is expected to undergo significant growth through 2025 owing to increasing online shopping trend among consumers and thriving e-retail industry. Also, availability of wide range of nail care products, including international brands is compelling consumers to buy products online.
Major players operating in the global nail care market are Procter and Gamble Co., Uniliver, Shiseido Co. Ltd., Colorbar Cosmetics Private Limited, Revlon, Inc.,Estee Lauder Companies Inc., Faces Cosmetics Inc., L’Oréal S.A.,KISS Products Inc. and Coty Inc., among others. Key growth strategies being adopted by leading market players are new product launches, collaborations and mergers & acquisitions.
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“Presence of fashion capitals Paris, London and Milan makes Europe one of the biggest consumers of nail care products market. However, Asia Pacific is emerging as a lucrative market owing to increasing disposable income and growing awareness towards personal grooming among consumers. Moreover, the region is expected to witness the fastest CAGR during the forecast period on account of large population of working women and entry of leading cosmetic brands in the regional market ,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Nail Care Market By Product Type (Nail Polish, Nail Accessories, Nail Strengthener, Nail Polish Remover, Artificial Nails and Accessories, Others), By Distribution Channel (Offline (Hypermarkets/Supermarkets, Retail Stores, Beauty Salon, Others), Online), By Region, Forecast & Opportunities, 2028” has evaluated the future growth potential of nail care market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global nail care market.
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