Pune, India , May 31, 2023 (GLOBE NEWSWIRE) -- The global nail care products market size was valued at USD 22.34 billion in 2022 and is projected to grow from USD 23.41 billion in 2023 to USD 32.84 billion by 2030, exhibiting a CAGR of 4.95% during the forecast period. Rising efforts by leading manufacturers to expand their digital presence, build brand equity, and improve consumer engagement will propel market growth in the forecast timeframe. Furthermore, nail care brands are focussing on promotional activities to build product demand and brand loyalty thus facilitating market augmentation. This information is provided by Fortune Business Insights, in its report titled, “Nail Care Products Market, 2023-2030.”
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List of Key Players Profiled in the Nail Care Market Report:
- Miniluxe, Inc. (U.S.)
- L'oréal S.A. (France)
- The Estée Lauder Companies Inc. (U.S.)
- Shiseido Company, Limited (Japan)
- NOTE Cosmetique (Turkey)
- ChinaGlaze.com Inc. (China)
- CND (U.S.)
- ORLY International, Inc. (U.S.)
- Cassina S.p.A (Italy)
- BWX Ltd (U.S.)
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 4.95% |
| 2030 Value Projection | USD 32.84Billion |
| Market Size in 2022 | USD 22.34 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 227 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors, and Latest Trends |
| Segments Covered |
|
| Regions Covered |
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| Nail Care Market Growth Drivers | Increasing Awareness Regarding the Importance of Personal Grooming to Drive Market Growth |
| The emergence of Beauty Salons and Spas to Aid Market Expansion |
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Segments:
Nail Polish to Segment to Lead Backed by Surging Demand from Young Beauty Enthusiasts
Based on product type, the global market is split into nail polish, top & base coats, nail polish remover, cuticle care and others. Among these, the nail polish segment dominated the market in 2022 due to its rising demand from young beauty enthusiasts. The rising number of professional salons offering nail treatments and nail care services will further elevate segment expansion. Furthermore, the rising number of chemical free and vegan products available in the market is also attributing to segment growth.
Offline Segment to Hold Major Share Owing to Rising Preference for Personalized Experience
As per distribution channel, the market is bifurcated into online and offline. Among these, the offline segment held the largest share in 2022 as they allow customers to check product quality in person thus offering a personalized experience. Offline channels also create opportunities for upselling and cross selling thus aiding market proliferation. Growing disposable income and rising urbanization are also attributing to market proliferation.
Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report provides an exhaustive overview of the global market inclusive of latest trends, market drivers, restraining factors, and recent developments. The market is studied at both micro and macro levels by dividing it into segments and regions. Market share held, growth rate, and valuation estimates of each region and segment are also given in the document. Furthermore, the impact of COVID-19 is also studied to enable industry stakeholders to make informed decisions.
Competitive Landscape:
Product Launches by Leading Companies to Aid Market Augmentation
Leading players often participate in strategic undertakings such as collaborations, mergers and acquisitions, partnerships, and product launches to enlarge revenue share. For instance, in September 2021, Creative Nail Design, Inc. launched a holiday collection that includes shades such as silk slip dress, glitter sneakers, signature lipstick, white button-downs, statement earrings, and high-waisted jeans. The availability of a wide variety of shades will help boost product demand and revenue generation for the company.
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Drivers:
Rising Awareness Regarding the Importance of Personal Grooming to Aid Market Augmentation
The growing awareness regarding the importance of personal grooming and maintaining good hygiene especially among women is a key factor driving nail care products market growth. Grooming plays a crucial role in maintaining confidence and having a high self-esteem. Moreover, the rising focus on beauty and lifestyle especially among working women is responsible for market expansion. Moreover, growing urban population, rising awareness regarding manicure and pedicure services, and competitive prices of products will facilitate market proliferation as well.
On the other hand, the toxic chemicals used in manufacturing nail polish removers, gel polish and other nail care products such as formaldehyde and toluene will hamper market augmentation in the forecast timeframe.
Regional Insights:
Asia Pacific to Hold Major Share Owing to Growing Income Level of Populace
Asia Pacific accounted for a significant nail care products market share in 2022 aided by growth of the retail sector, rising income level of the populace, and growing attention towards aesthetics. The rising number of working women and growing western influence will also attribute to regional market proliferation.
Europe market is projected to showcase substantial growth owing to surging demand for organic and natural products and rising efforts by leading companies to strengthen their online presence and improve geographical reach.
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Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Overview of the Cosmetics Market
- Regulatory Landscape
- Industry SWOT Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Impact of COVID on the Nail Care Products Market
- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- Global Nail Care Products Market Analysis, Insights and Forecast, 2019–2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type (Value)
- Nail Polish
- Top & Base Coats
- Nail Polish Remover
- Cuticle Care
- Others
- By Distribution Channel (Value)
- Online
- Offline
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Product Type (Value)
TOC Continued…!
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Key Industry Developments:
- June 2022: Velveeta, a cheese manufacturer, recently announced its decision to partner with London-based nail polish brand Nails Inc. to introduce two new cheese-scented nail polishes. These shades will be available in two colors: creamy yellow (“La Dolce Velveta”) and bright red (“Finger Food”).
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