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| Nail Care Market |
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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