The global Nail Care Market is estimated to be valued at US$ 21.08 Billion or Bn in 2022 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Nail care products include nail polish, nail polish remover, nail polish thinner, nail strengthener, cuticle oil, and hand creams. These products help nourish and strengthen nails besides adding aesthetic beauty. Nail care products are used for enhancing beauty and protection of nails.
Market key trends:
One of the key trends in the nail care market is the growing popularity of nail art. Nail art involves creative designs and patterns created on fingernails and toenails. It has gained traction among young consumers. Various tools such as nail polish pens, studs, and glitter are used for advanced nail art. This has increased the demand for specialized nail art products. Moreover, the availability of online tutorials and workshops has made nail art popular.
Segment Analysis
The global nail care market is segmented into nail polish, nail polish remover, nail strengthener, nail color, nail art, and other products. Among these, the nail polish segment dominated the market in 2022 owing to the wide variety and availability of nail polish colors across the globe. The growing fashion consciousness among people and increasing demand for trending nail colors are driving the nail polish segment.
Key Takeaways
Global Nail Care Market Demand is expected to witness high growth, exhibiting a CAGR of 5.3% over the forecast period, due to the increasing fashion consciousness and growing adoption of nail art trends among people.
Market size
The global nail care market size reached US$ 21.08 Billion in 2022. The market is expected to grow at a significant rate due to the increasing popularity of nail art among millennials and fashionistas. Social media platforms are also influencing consumers to experiment with different nail colors and styles.
Regional analysis
North America currently dominates the nail care market owing to the high fashion consciousness and stronger purchase power of consumers in the US and Canada. However, Asia Pacific is expected to be the fastest growing region during the forecast period due to the growing middle-class population and increasing adoption of western beauty trends in countries like China, India, and Japan.
Key players
Key players operating in the nail care market are OPI, Essie, ORLY, China Glaze, Kiko Milano, Rimmel, Shiseido, CND, Art of Beauty, Zoya, Sally Hansen, Revlon, L’Oreal Paris, Nails Inc., Maybelline, Chanel, Dior, Tom Ford, YSL, Lancôme. The market is highly fragmented with the presence of major global players. These players are focusing on new product launches and innovation to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it