The global nail care products market is expected to grow significantly over the next five years. The increasing demand for non-toxic solutions and personalized home salon services drives it. According to a recent report by Technavio, the market is set to grow by USD 5.96 billion from 2024-2028, with a compound annual growth rate (CAGR) of 4.3%. The rise of home salon services has been a significant factor in the growth of the nail care products market. With the increasing availability of non-toxic solutions and eco-friendly products, consumers are opting for at-home nail care services over traditional salon visits. This trend is particularly popular among young women and millennials who prioritize self-care and personal grooming.
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Technavio is a renowned global technology research and advisory firm that specializes in identifying emerging market trends and providing actionable insights to help businesses capitalize on market opportunities. With a team of over 500 expert analysts, Technavio’s comprehensive report library boasts over 17,000 reports and growing, covering 800 technologies across 50 countries. Their client roster includes enterprises of all sizes, including more than 100 Fortune 500 companies, who rely on Technavio’s insights to inform their strategic decision-making and optimize their market positions.
What does the report say?
The report also highlights the growing demand for textured finishes, such as sequins, gems, foils, and holographic finishes, which are driving the market growth. Additionally, the increasing popularity of DIY nail kits and tutorials on fashion reality shows is fueling the demand for nail care products. The market is also driven by the growing influence of social media platforms, which are playing a significant role in popularizing nail art and virtual try-on experiences. The rise of e-commerce portals and subscription boxes is adding to the convenience of consumers, making it easier for them to purchase nail care products online.
Despite these trends, the market faces challenges from counterfeit products, which can be difficult to differentiate from actual products. To protect their intellectual property rights and brand identity, vendors must invest in effective anti-counterfeiting measures.
The nail care products market can be categorized into four segments: nail polish, nail accessories and implements, nail polish remover, and others. The nail polish segment dominates the market, accounting for a significant share of the total revenue.
The report also highlights the key players in the market, including American International Industries, Amorepacific Corp., Amway Corp., Beiersdorf AG, Brandloft Ltd., Chanel Ltd., Coty Inc., Edgewell Personal Care Co., L’Oreal SA, LVMH Moet Hennessy Louis Vuitton SE, Nails Ltd., Natura and Co Holding SA, Olive and June LLC, Oriflame Cosmetics S.A., Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Companies Inc., The Procter and Gamble Co., and Unilever PLC.
Overall, the nail care products market is expected to continue growing in the coming years driven by increasing consumer demand for non-toxic solutions and personalized home salon services.
