Nail polish is a cosmetic product applied to the nails to enhance their appearance and provide protection. It typically consists of pigments, solvents, and other additives such as thickeners and UV absorbers. The global nail polish market is used in the personal care sector, where both men and women use nail polish to improve the aesthetics of their nails and protect them from becoming flaky, dry, or broken. Nail polish is used to create a polished and colorful finish on the nails, which can last for a few days to weeks, depending on the type used. The growing demand for nail polish is driven by increasing awareness about personal grooming, rising disposable incomes, and the popularity of fashion trends.
Global Nail Polish Market valued at USD 12,221,000.00 thousand in 2023 is projected to reach USD 23,163,296.96 thousand by 2031 and will grow at a CAGR of 8.4% during the forecast period of 2024-2031.
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Below are the Top Nail Polish Companies with a Significant Market Share:
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Rank
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Company
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Overview
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Product Portfolio
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Sales Geographical Coverage
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Developments
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1.
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L'Oréal Paris
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L'Oréal Paris is a leading global cosmetics company that owns a diverse portfolio of brands, including several in the nail polish category. Some of their popular nail polish brands include Essie, Color Riche, and Maybelline New York. L'Oréal Paris is known for its innovative nail polish formulas and wide range of shades and finishes. They are a major player in the mass-market and professional nail care segments.
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Europe, Asia-Pacific, South America, North America, and Middle East and Africa
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In December 2023, LOREAL PARIS announced that it had completed the acquisition of Lactobio, a leading probiotic and microbiome research company based in Copenhagen. The acquisition also opens up new scientific opportunities, including leveraging Lactobio’s microbiome expertise and significant IP portfolio to develop safe and effective new cosmetic solutions using live bacteria. This has helped the company to expand its business.
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2.
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Estée Lauder Inc
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Estée Lauder is a prestigious beauty company that owns several prestige nail polish brands, such as Estée Lauder, Clinique, and Tom Ford Beauty. Estée Lauder's luxury nail products are highly sought after by consumers looking for high-quality, long-lasting nail color. The company focuses on innovative nail care formulas and on-trend shades.
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In December 2023, The Estée Lauder Companies Inc. attended AFROTECH for the first time as an official sponsor. The employees had an opportunity to connect with leading talent in tech, deliver branded activations, and speak on the Women’s Summit mainstage for conversations focused on the advancement of technology in the beauty industry. This has helped the company to showcase its resources.
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3.
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Unilever
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Unilever is a global consumer goods conglomerate that owns several mass-market nail polish brands, including Dove, Suave, and Vaseline. Unilever's nail polish offerings are affordable and widely available. The company leverages its strong distribution network to make its nail products accessible to a broad consumer base.
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North America, South America, Asia-Pacific, Middle East and Africa
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Hindustan Unilever Limited (HUL) produces nail polish under the brand "Elle 18 face".The Elle 18 range of cosmetics includes nail polish, along with other products such as eyeliner, kajal, lipstick, compact, and foundation. All Elle 18 products are made with utmost safety and care. Elle 18 is a mass-market brand targeted at young Indian women who want to define their style statement with a fun and vibrant range of cosmetics.
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4.
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CHANEL
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CHANEL is a luxury fashion and beauty brand that offers a premium nail polish line. Known for its iconic nail lacquer shades and long-lasting formulas, CHANEL's nail products are positioned as high-end, prestige offerings. The brand's nail polish is favored by beauty enthusiasts and trendsetters who appreciate the quality and exclusivity of the CHANEL name.
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Europe, Asia-Pacific, South America, North America
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Chanel, a prominent player in the nail polish market, has recently updated its Le Vernis Nail Colors with a new brush and additional shades. This move reflects the company's commitment to innovation and staying relevant in the competitive market. The updated formula and brush design are intended to enhance the overall user experience, potentially increasing customer satisfaction and loyalty. This strategic move by Chanel demonstrates its focus on maintaining a strong market presence and adapting to evolving consumer preferences in the nail polish industry.
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5.
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Coty Inc.
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Coty is a global beauty company that owns several mass-market and professional nail polish brands, including Sally Hansen, OPI, and Rimmel. Coty is a significant player in the nail care market, offering a wide range of nail polish products, from affordable drugstore options to high-end professional-grade formulas. The company's diverse nail polish portfolio caters to a broad consumer base.
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Europe, Asia-Pacific, South America, North America
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Coty Inc.'s launch of a virtual try-on tool utilizing Perfect Corp.'s AgileHand Technology revolutionizes the nail polish market by addressing common consumer pain points. With this innovative tool, customers can virtually experience a wide range of nail color options, streamlining the decision-making process and eliminating the need for physical testing. Offering a hygienic and accessible alternative to traditional nail polish testing methods, Coty Inc. enhances the shopping experience, encouraging more confident and informed purchases. This technology-driven approach not only caters to modern consumer preferences but also fosters greater engagement and brand loyalty within the nail polish market.
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Conclusion
The global nail polish market is dominated by several major players, each with a distinct positioning and product portfolio. L'Oréal Paris, Estée Lauder, Unilever, CHANEL, and Coty Inc. are among the key players in this market, offering a range of nail polish products catering to different consumer segments. These companies leverage their brand recognition, innovative formulations, and diverse distribution channels to maintain a strong presence in the growing global nail polish market, which is driven by increasing awareness about personal grooming, rising disposable incomes, and the popularity of fashion trends.
