Selbyville, Delaware, Oct. 07, 2024 (GLOBE NEWSWIRE) --
Nail Care Products Market size was valued at USD 22.5 billion in 2023 and is projected to grow at a CAGR of 5.1% from 2024 to 2032, fueled by an increasing emphasis on personal grooming and beauty.
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The nail care products market encompasses a diverse range of products, catering to both mass-market consumers and premium segments. A surge in consumer awareness plays a pivotal role in driving the market. As consumers recognize the importance of nail health and the risks of neglecting it, demand for products that maintain and enhance nail health has increased.
Additionally, rising disposable income is propelling industry progression. With more disposable income, consumers are increasingly investing in personal grooming and beauty products, including nail care. What was once an occasional luxury has now become a staple in many individuals' beauty routines. As disposable income grows, so does the appetite for premium and luxury nail care products, with consumers willing to invest more for superior quality and enhanced benefits.
The DIY nail art trend, bolstered by social media tutorials, has broadened the nail care products market for nail art kits and tools, empowering consumers to experiment at home. Seasonal fashion trends heavily dictate nail polish colors, prompting brands to launch collections that resonate with seasonal themes. For example, spring might see a dominance of pastel shades, while fall and winter lean towards bold, dark colors. Limited edition collections tied to specific events or collaborations with fashion designers amplify consumer interest, fostering a sense of urgency to acquire the latest shades.
The overall nail care products industry is classified based on product type, end-use, price, distribution channel, and region.
In 2023, the nail polish segment led the nail care products market with a revenue of approximately USD 9.2 billion and is projected to grow at a CAGR of 5.3% during the forecast period. Nail polish, celebrated for its versatility, comes in a myriad of colors, finishes, and effects, appealing to a broad consumer base. Continuous innovations in formulations and widespread availability across retail channels, from drugstores to online platforms, bolster its market dominance. The popularity of gel polishes, offering salon-like results at home.
With a commanding 57.9% share of the total market, the household segment is projected to grow at a CAGR of 5.2% in the coming years. The DIY culture, especially in beauty and personal care, has surged, with many opting for at-home nail care over salon visits. Factors like the convenience and cost-effectiveness of at-home care, the aftermath of the COVID-19 pandemic, diverse product availability, and social media influence have solidified the household segment's dominance. As consumers increasingly adopt at-home nail care routines.
In 2023, North America accounted for approximately 23.3% of the nail care products market share and is anticipated to grow at a CAGR of 5% through 2032, driven by heightened consumer awareness, social media influence, a rise in at-home care practices, and a broader range of product offerings. With a growing focus on health and wellness, North American consumers are gravitating towards nail care products that promote nail health and are free from harmful chemicals like formaldehyde, toluene, and phthalates.
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Major players in nail care products market include L'Oréal S.A., Coty Inc., Revlon Inc., The Estée Lauder Companies Inc., Shiseido Co. Ltd., Unilever PLC, Faces Canada, Revlon, Inc., KISS USA, Colorbar Cosmetics Pvt. Ltd., Olive & June, ORLY International, Inc, CND, LCN USA and AMERICAN INTERNATIONAL INDUSTRIES among others.
Partial Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Base estimates & calculations
1.3 Forecast calculations
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2021-2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factor affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Technological overview
3.5 Key news & initiatives
3.6 Regulatory landscape
3.7 Impact forces
3.7.1 Growth drivers
3.7.1.1 Increasing consumer awareness
3.7.1.2 Fashion trends
3.7.1.3 Rising disposable income
3.7.2 Industry pitfalls & challenges
3.7.2.1 Health concerns
3.7.2.2 High competition and price sensitivity
3.8 Growth potential analysis
3.9 Porter’s analysis
3.10 PESTEL analysis
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