The global Nail Care Market is valued at an estimated US$ 21.08 billion 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. The nail care industry includes manufacturing and retailing of nail polish, nail strengtheners, nail polish removers, and artificial nails. Consumers are increasingly becoming fond of applying nail polish, UV gels, and false nails for style statements and aesthetically appealing looks. Rapidly evolving e-commerce landscape has enabled easy availability of various nail care products through online purchasing, thereby fueling the market growth.
The global Nail Care Market is driven by growing preference for non-surgical and cosmetic nail treatments among consumers. Frequent introduction of innovative nail products coupled with exotic color range and easy application attracts customers. Growing middle-class population with increasing disposable income favors the market expansion, especially in developing regions. Rising social media influence and celebrity endorsements further boost the demand. Young generation actively participate in new trends circulating on various online platforms. Additionally, improved shelf presence and marketing strategies by manufacturers reach wider audience base and spur sales.
The global Nail Care Market is estimated to be valued at US$ 21.08 billion in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030.
Market Dynamics
The e-commerce revolution has opened lucrative growth avenues for the nail care market. Easy product search, multiple payment options, lucrative discounts, and doorstep delivery offered by e-retailers attract more customers worldwide. Expanding internet and smartphone penetration enable customers to browse, compare prices, read reviews, and purchase nail items conveniently online. This driver coupled with growing customer preference for non-surgical nail treatments is expected to positively impact the market expansion during the forecast period. Moreover, the availability of variety of nail polishes, UV gels, strengtheners and false nails cater rising demand for fashionable looks. Frequent new launches in colors and innovative product formats keep the interest alive and help companies sustain in intense competition. Marketing strategies like celebrity endorsements and social media influencer campaigns further boost the product awareness and trial.
Segment Analysis
The nail care market is dominated by nail polishes sub segment. Nail polishes accounts for over 50% market share owing to high demand for nail colors and nail art trends among consumers. Nail colors have become a fashion statement and means of self expression, driving consistent purchases of new shades and styles in nail paints.
PEST Analysis
Political: The nail care market is not directly impacted by political factors. However, stringent regulations pertaining to ingredients in nail care products impact innovation.
Economic: Rise in disposable incomes, dual income families and growing working women population supplement market growth. Higher spends on personal grooming and beauty regimen favors nail care purchases.
Social: Changing fashion trends, rising social media influence and popularity of nail art on forums and blogs promote experimentation with nail looks. Do-It-Yourself nail tutorials garner strong engagement.
Technological: Advanced nail products with innovative shades, quick dry and long lasting formulas cater to busy lifestyles. Digital marketing strategies help brands target and engage customers online.
Key Takeaways
Global Nail Care Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by increasing spending on beauty and cosmetic products. Rapid urbanization and dominant influence of western trends in emerging nations add to market opportunities.
Regional analysis: North America represents the largest regional market for nail care products led by U.S. Growing health and fitness culture coupled with high product penetration has made nail care an integral part of personal grooming routines.
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.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it