According to a new research report published by Transparency Market Research titled ‘Nail Care Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,’ the global nail care market is expected to reach a value of US$ 20,940.2 Mn by 2027, expanding at a CAGR of 8.4% from 2019 to 2027. In terms of volume, the market is expected to reach 1,494.2 Mn units by 2027, expanding at a CAGR of approximately 7.0% during the forecast period.
Asia Pacific held a prominent share of the global market in 2018. The market in the region is projected to expand at a rapid pace during the forecast period. According to the report, the global nail care market is expanding significantly, in terms of size and value, due to the expansion of the e-commerce retail market, which in turn is driving the nail care market in the region. This trend is anticipated to be continue during the forecast period. Increasing population of working women and changing male preference toward nail treatment is a key factor driving the global nail care market.
Furthermore, popularity of gel polish has increased in both salons and homes. In particular, gel polish that does not require the use of an LED light is boosting the at-home gel market. Over 10% of women who do their own nails report using gel polish without an LED light, as compared to just 7% of those who use gel polish that requires an LED light. These are major factors that are expected to drive the nail care market during the forecast period.
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Based on product type, the nail color segment accounted for a leading share of the global nail care market in 2018. However, the nail treatment segment is projected to expand at a significant growth rate in the near future, as several nail brands are expanding from polish to the development of treatment products for the feet and hands. The nail color segment includes liquid nail color, gel nail color, base coat and top coat nail color sub-segments. Under nail color segment, liquid nail color hold the majority of market share while the gel nail color sub-segment is projected to expand at a rapid pace during the forecast period. This is due to continuous launch of new products that contain natural ingredients. These factors are expected to drive the nail care market during the forecast period.
In terms of sales type, the packaged segment accounted for a major share of the market, and expand at a rapid pace, in 2018. It is estimated to maintain its dominant position during the forecast period, as consumers are moving from nail salon to at-home care options. Earlier, premium brands used to be available only at a nail salon. However, the availability of premium brands at home boosts packaged sales in the premium nail polish market.
Asia Pacific accounted for 34.2% share of the global nail care market in 2018, followed by North America and Europe. It is anticipated to maintain its dominance during the forecast period. However, in terms of year-on-year growth, demand for nail care products is projected to rise at a rapid pace in Asia Pacific, followed by South America and Europe. Major manufacturers of nail care products are launching entire product ranges for men in response to a rise in demand from the segment. Grooming as a regimen is not restricted to women anymore, and manufacturers are taking note of this and catering to the demand. This is largely driven by the demand from APAC owing to the influence of South Korea-based beauty trends. This has led to the emergence of similar trends in Japan, China, India, Brazil, and Russia.
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Manufacturers operating in the global nail care market are facing intense competition. Market players often use price/quality characteristics to position their brands. In order to maintain their position in the market, players are offering free shipping and discounts on nail care products to customers. Key players operating in the global nail care market include American International Industries, Barielle Ltd., California Chemical Specialties, ChromaDurlin (NV Organics), CNC International B.V., OPI Products, Inc., Creative Nail Design, Inc., Delia Cosmetics, Fiabila S.A., IL Cosmetics Group, Kirker Enterprises, Inc., and Polychromatic (Keystone Research & Pharmaceutical Inc.).