The preference for nail products that are less toxic, long lasting and healthy is growing. Costumers are opting for quality products and are also ready to pay more for these products. The demand for organic products is also rising. Moreover, anti-pollution and anti-aging products are also gaining popularity in the nail care market. Demand for the products that strengthen, hydrate, and smoothen nails is also increasing. With various advancements in the market, companies are producing nail polishes with new colors and with more luster and shine. Moreover, long-lasting nail polish are also being made.
Technological advancement is also taking place in the industry, and companies are developing new equipment and machines to provide better protection to the nails. Meanwhile, innovative and easy-to-use tools for manicure, pedicure, and shaping nails are also being produced. The demand for supplements and vitamins to enhance nail health is also increasing. Hence, supplements including omega 3 fatty acids, biotin, and vitamin B are being produced as well as consumed on a large scale.
Some of the key market players in the global nail care market report are The Estée Lauder Companies Inc., L’Oreal SA, Shiseido Company Limited, Procter & Gamble Co., Avon Products, Inc., Chanel, Revlon, Inc., LVMH Moët Hennessy Louis Vuitton S.E., Colorbar Cosmetics Private Limited, and Hindustan Unilever Ltd.
According to the latest report by Transparency Market Research (TMR), the global nail care market is expected to witness steady growth, registering 5.8% CAGR during the forecast period 2017-2022. The market is also expected to reach US$ 11,998.1 million revenue by the end of 2022.
The global nail care market has been categorized on the basis of product type, price, and sales channel. Based on the product type, nail polish is expected to be the highly preferred product in the global nail care market. On the basis of price, the market segmentation includes premium and economic segments. Among these two segments, premium nail care segment is expected to witness significant growth during the forecast period 2017-2022.
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Based on sales channel, health & beauty retailers are expected to emerge as the biggest sales channel in the global nail care market during the forecast period 2017-2022. On the basis of region, the market segments include North America, Latin America, Europe, Asia Pacific Excluding Japan (APEJ), Japan, and the Middle East and Africa (MEA). Among these, APEJ is expected to remain dominant in the global nail care market during the forecast period 2017-2022.
Eco-friendliness is an emerging trend in the beauty industry. In order to get a finished product, some sort of animal product is used in various beauty products. However, rising demand for vegan beauty products is leading to the development of completely vegan products including vegan nail care products.
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Moreover, increasing awareness of harmful effects of chemical products is resulting in the growing demand for nail care and other beauty products made using natural or organic ingredients. Nail polish including vitamin B5, vitamin C, and various healthy oils is also being produced to attract customers as well as help in repairing damaged nails and enhance the growth of the nails.
Development of nail polish formulation that provides UV protection and protects nails against pollutants is also being focused on. The demand for premium nail care products made using organic ingredients is also rising. The concept of non-toxic nail salons is also gaining momentum across various countries. Hence, nail polish and nail care product manufacturers are using safer ingredients to develop toxic-free scrubs, lotions, oils, nail polishes, nail polish remover, etc.