PUBLISHER: The Business Research Company | PRODUCT CODE: 1464139
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464139
Nail care products encompass a range of cosmetics and tools specifically crafted to improve the health and aesthetics of the nails. These products serve the purpose of maintaining and enhancing the overall health and appearance of nails, promoting strength, preventing damage, and contributing to well-groomed hands.
The primary categories of nail care products include nail polish, top and base coats, nail polish removers, cuticle care, and others. Nail polish is a cosmetic product designed for enhancing the appearance of nails. These products are available through various distribution channels, including both offline and online platforms, catering to diverse end-users such as households, spas, and salons.
The nail care products market research report is one of a series of new reports from The Business Research Company that provides nail care products market statistics, including nail care products industry global market size, regional shares, competitors with a nail care products market share, detailed nail care products market segments, market trends and opportunities, and any further data you may need to thrive in the nail care products industry. This nail care products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The nail care products market size has grown strongly in recent years. It will grow from $21.48 billion in 2023 to $22.81 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historical period can be attributed to several factors, including shifts in fashion trends, the influence of health and wellness trends, the impact of social media on consumer preferences, the effectiveness of retail distribution channels, and broader cultural shifts influencing nail care product consumption.
The nail care products market size is expected to see strong growth in the next few years. It will grow to $27.70 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The anticipated growth in the forecast period can be attributed to the increasing demand for sustainability and eco-friendly products, the influence of digital beauty influencers, a rise in customization and personalization trends, the emergence of indie brands, and innovative techniques in nail art. Key trends expected in the forecast period include advancements in technology, the popularity of personalized nail care subscriptions, a focus on sustainable packaging, the introduction of virtual try-on experiences, and a growing preference for clean and non-toxic formulations in nail care products.
The nail care products market is poised for growth due to the increasing awareness of personal grooming. The term "awareness of personal grooming" refers to the emphasis on maintaining cleanliness and neatness in one's appearance through regular grooming practices. This awareness is a significant driver for the use of nail care products, as individuals prioritize well-maintained nails for overall hygiene and a polished appearance. According to the Bureau of Labor Statistics in September 2023, personal care products and services experienced a notable increase of 12.3% in 2022, following a substantial rise of 19.3% from the previous year. In particular, personal care products saw a growth of 15.5% in 2022 after a 1.0% decline in 2021. Personal care services also increased by 9.1%, a noteworthy continuation from the 50.4% rise in 2021. The growing awareness of personal grooming is a key factor driving the growth of the nail care products market.
Innovation in the nail care products market is evident as major companies focus on introducing advanced solutions to gain a competitive edge. One such innovation is the introduction of vegan nail product lines, which are collections of nail care items entirely free from animal-derived ingredients. This caters to a consumer base that prioritizes cruelty-free and eco-conscious choices. For instance, Colorbar Cosmetics, an India-based provider of makeup and skincare products, launched the Vegan Nail Lacquer in January 2022. This new line features 128 shades and is enriched with biotin and calcium. The nail lacquer boasts a non-toxic, patented, 20-free formula, ensuring it is chip-resistant, non-yellowing, and non-carcinogenic. The entire range is 100% vegan and vegetarian, providing consumers with a uniquely clean and green makeup experience.
In November 2021, Rare Beauty Brands, a prominent US-based cosmetics company, successfully acquired Dr. Dana Beauty in an undisclosed deal. This strategic acquisition is anticipated to bolster Rare Beauty Brands' position as a leader in the beauty industry and facilitate an expansion of the brand's distribution channels. Dr. Dana Beauty, known for its expertise in creating innovative nail renewal systems and nail repair kits, aligns with Rare Beauty Brands' vision to diversify and enhance its product portfolio. The move reflects Rare Beauty Brands' commitment to strengthening its presence in the beauty market and meeting the evolving needs of consumers through strategic partnerships and acquisitions.
Major companies operating in the nail care products market report are Johnson and Johnson Services Inc., Christian Dior SE, Procter & Gamble Co., Unilever PLC, L'Oreal Groupe, The Estee Lauder Companies Inc, Chanel SA, Kao Corporation, Amway Corporation, Shiseido Company Limited, Coty Inc., Sally Hansen, Avon Products Inc., Cosnova Gmbh, Kiehl's, OPI Products Inc., American International Industries, Oriflame Holding AG, BWX Limited, China Glaze, Cassina S.p.A, Orly International Inc., Creative Nail Design Inc., Olive & June Inc, NSI Nails Inc., Miniluxe Inc., Sally Hansen Inc., Essie Cosmetics, Revlon Inc.
Asia-Pacific was the largest region in the nail care products market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the nail care products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the nail care products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The nail care products market consists of sales of nail strengtheners, nail serums, nail conditioners, nail growth products, and nail care kits. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
Nail Care Products Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on nail care products market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for nail care products ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The nail care products market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.