Globally, the Nail Polish Market is expected to expand at a significant CAGR over the next few years due to its growing scope and applications. Key factors such as growing nail art trends, increasing preference for colored nails, and rising number of nail art salons across the globe are expected to boost global market growth during the forecast period.
Nail polish is a quick-drying lacquer, either colored or clear that is applied to the human fingernails or toenails for decorating and protecting nail plates. The nail polish formulation varies from manufacturer to manufacturer but consists of various chemical ingredients such as film formers, pigments, solvents, resins, pearls, plasticizers, and thickening agents. Different types of nail paints are available and many people especially teenage girls and women are keen to try different combinations and patterns. This has significantly increased due to social media and celebrity influence and rising beauty trends.
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Key factors such as growing awareness about self-grooming, rapidly expanding manicure and pedicure industry and e-commerce sector, and rising investments in developing innovative products are expected to drive global market growth going ahead.
However, rising concerns about harmful chemicals used for manufacturing nail polishes, availability of counterfeit products, and high cost of certain branded nail polishes are expected to hamper overall market growth during the forecast period.
Gel Segment To Register Rapid Revenue CAGR:
The gel segment revenue is expected to expand at a rapid CAGR over the forecast period. This can be attributed to rising acceptance of nail care fashion trends, rising availability of various types of gel nail paints on commercial sites, and growing preference for gel nail polish over regular nail polish due to quick drying, durability, and glossy look.
Individuals Segment to Account for a Significantly Larger Revenue Share:
The individuals segment is expected to account for a significantly larger revenue share during the forecast period owing to increasing focus on nail care, rising interest in nail art owing to social media and celebrity influence, and increasing spending capacity.
North America to Lead In Terms of Revenue Share:
North America is expected to account for largest revenue share in the global market during the forecast period owing to factors such as rapidly expanding fashion industry, high disposable income, increasing spending on nail care fashion trends, rising number of working women population, and rising number of nail art salons.
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Nail Polish Market By Company:
Nail Polish Industry Recent Developments:
In June 2022, Loud Lacquer announced the launch of its Spring 2022 collection of substantial assortments of nail polishes and accessories that are long lasting, cruelty free, vegan and quick drying.
In June 2022, Velveeta, a popular brand manufacturing processed cheese products launched its first-ever nail polish collection with Nail, Inc. Velveeta Pinkies Out Polish contains two complementary nail polish colors, perfect fit for the summer season. A liquid-gold yellow polish called La Dolce Velveeta and a bright red nail polish called Finger Food, both of which are vegan, cruelty free and cheese scented.
In October 2022, Pleasing beauty brand announced its collaboration with Macro Ribeiro to launch a nail polish collection in 4 shades including vibrant orange, green, aqua, and burgundy.
The global Nail Polish market has been segmented based on type, application, and region:
Nail Polish Market Segment by Type:
Nail Polish Market Segment by Application:
Nail Art Institutions
Nail Polish Market Segment by Region:
North America (USA, Canada)
Europe (Germany, France, UK, Italy, Russia)
Asia Pacific (China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam)
Latin America (Brazil, Argentina)
Middle East & Africa (Turkey, Saudi Arabia, U.A.E)
Key Reasons to Purchase:
Estimates 2023 to 2028 nail polish market current market trends and development trends
Market dynamics along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the nail polish market
Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
Brief about impact of COVID-19 on the global nail polish market
Key Questions Addressed:
What revenue CAGR is the global market expected to register during the forecast period?
Which regional segment is expected to lead in terms of revenue share between 2023 and 2028?
Who are most well-known players in the global nail polish market?
What are the key outcomes of Porter’s five force analysis and SWOT analysis?
Which application segment is expected to register rapid revenue CAGR over the forecast period?
What are some of the biggest challenges for the global nail polish market?
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