by The nail care market comprises products that enhance the appearance and aesthetic appeal of nails. These include nail polish, nail polish remover, nail strengthener, cuticle cream, and nail art accessories.Nail polish offers long-lasting shine and color to nails and protects them from damage. Nail art products enable creative nail designs and give nails an attractive appearance. These products are convenient to use and save time during grooming routines.
The Global Nail Care Market is estimated to be valued at US$ 24.29 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Nail Care Market Demand are Metro AG, Kroger Company, Carrefour SA, Tesco PLC, Wal-Mart Stores, Inc. Rising disposable incomes and increasing urbanization in developing economies are fueling the demand for nail care products.
Growing demand for nail enhancing and beautifying products: The increasing popularity of nail art and fancy nail designs among women is driving significant demand for nail strengthening, cuticle remover, and nail art products. Beauty advancements and social media influence have made stylish nails common even in professional settings.
Global expansion of retail channels: Key players are expanding their product reach internationally through partnerships with salons, spas, retail stores, and e-commerce sites. Global companies see high growth potential in Asia Pacific and Middle Eastern countries.
Market Key Trends
Customized and DIY nail art trends: Women increasingly prefer customized nail colors and fancy nail artwork over simple polishes. This has increased the demand for nail vinyls, stencils, and nail art accessories to enable DIY nail painting. Players are launching varied kits and tutorials to cash in on this opportunity.
Porter’s Analysis
Threat of new entrants: Low cost of starting Nail Care Market business and availability of profitable market opportunity attracts new entrants. However established brands hold strong customer base and supply chain integration.
Bargaining power of buyers: Individual buyers have low bargaining power due to wide range of product variants at different price points by established brands. However organized retailers enjoy some bargaining power.
Bargaining power of suppliers: Raw material suppliers have moderate bargaining power due to availability of alternative suppliers and substitutes. However suppliers of some imported raw materials enjoy more power.
Threat of new substitutes: Nail polish removers, nail strengthening treatments face threat from new product innovations like gel nails, press-on nails, etc. Constant innovation helps brands to safeguard from substitutes.
Competitive rivalry: Intense competition exists among global leaders. They continuously invest in marketing, promotions and product differentiation to gain customer loyalty and market share.
Geographical regions with highest market value:
North America accounts for the highest value share currently due to heavy consumption of nail care products across USA and Canada. Strong brands, busy lifestyles and self-grooming focus drive the demand.
Fastest growing region:
Asia Pacific region is expected to be the fastest growing market during the forecast period. Growing middle class, increasing spending power on personal beauty routines and proliferation of salons especially in China, India and Southeast nations will propel the growth. Social media influence and western beauty trends also contribute to the expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
