Global Nail Polish Market, By Coat (Base Coat and Top Coat), Finish (Crème, Glossy, Chrome/Metallic, Matte, Glitter/Shimmer, Holographic, Neon, Pearl, Foil, Magnetic, Dip Powder, Shellac, Breathable, Acrylic, and Others), Product Type (Liquid Nail Polish, Gel Nail Polish, and Others), Nature (Thermochromic and Photochromic), Category (Conventional and Organic), Source (Solvent-Based Nail Polish and Water- Based Nail Polish), Price Range (Mass and Premium), Gender (Male and Female), End User (Residential/Household and Commercial), Distribution Channel (Store Based Retailer and Non-Store Retailer) - Industry Trends and Forecast to 2031.
Nail Polish Market Analysis and Insights
The key factors fueling the expansion of the market is the increasing focus on personal grooming. Rising cross industry collaborations. Rising demand of natural and sustainable products is driving the market's expansion. In addition, the rising demand and nail art studios across the globe will open up more business potential for the market. The major restraint impacting the market is high cost of manicure and nail arts. The opportunities for the market growth is the rising e-commerce platforms.
Data Bridge Market Research analyzes that the market is growing with a CAGR of 8.4% in the forecast period of 2024 to 2031 and is expected to reach USD 23,163,296.96 thousand by 2031 from USD 12,221,000.00 thousand in 2023.
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customized to 2016-2021)
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Quantitative Units
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Revenue in USD Thousand, Volume and ASP in ml
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Segments Covered
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Coat (Base Coat and Top Coat), Finish (Crème, Glossy, Chrome/Metallic, Matte, Glitter/Shimmer, Holographic, Neon, Pearl, Foil, Magnetic, Dip Powder, Shellac, Breathable, Acrylic and Others), Product Type( Liquid Nail Polish and Gel Nail Polish and Others), Nature (Thermochromic and Photochromic), Category (Conventional and Organic), Source (Solvent-Based Nail Polish and Water- Based Nail Polish), Price Range (Mass and Premium), Gender (Male and Female), End User (Residential/Household and Commercial), Distribution Channel (Store Based Retailer and Non-Store Retailer)
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Switzerland, Russia, Turkey, Belgium, Poland, Sweden, Austria, Norway, Denmark, Ireland, Luxemburg, Finland and Rest of Europe, China, India, South Korea, Japan, Thailand, Australia, New Zealand, Singapore, Indonesia, Malaysia, Taiwan, Hong Kong, Philippines, Rest of Asia-Pacific, Brazil, Argentina, and Rest of South America, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Qatar, and Rest of Middle East and Africa
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Market Players Covered
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Wella International Operations Switzerland Sarl., NOTE Cosmetique, butter LONDON, Guccio Gucci S.p.A. (A Subsidiary of KERING), Sephora USA, Inc., LORÉAL PARIS, COTY Inc., REVLON, Estee Lauder Companies Inc, Unilever, CHANEL, Fiabila, KEYSTONE INDUSTRIES, IL Cosmetics Group, Light Elegance, AMERICAN INTERNATIONAL, Delia Cosmetics, Alessandro International, and GLOBAL COSMETICS (HK) COMPANY LIMITED among others
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Market Definition
Nail polish is a cosmetic product widely utilized for enhancing the aesthetic appeal of fingernails and toenails. Functioning as a colorful and versatile form of nail adornment, it is applied to the nails to provide a polished and finished appearance. Marketed in a vast array of hues, finishes, and formulations, nail polish caters to diverse consumer preferences, allowing individuals to express their personal style and keep up with fashion trends. Beyond its decorative function, nail polish often incorporates ingredients designed to strengthen nails and enhance longevity.
Global Nail Polish Market Dynamics
This section deals with understanding the market drivers, advantages, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Rising Cross-Industry Collaborations
Brand visibility is increased when nail polish companies collaborate with well-known fashion designers, celebrities, or influencers. These collaborations increase the legitimacy and desirability of nail polish products by utilizing the established reputation and fan base of the partners. Limited-edition or exclusive nail polish collections are frequently the outcome of collaborations. Customers become excited about these exclusive items, which are influenced by the partner's aesthetic or style, and this increases demand for these limited-edition releases.
Together, the two industries' skills are combined in joint marketing initiatives to introduce creative campaigns that draw in customers. Events, social media campaigns, and co-branded promotions create excitement and draw in a larger audience. Diverse consumer bases are brought together by partnerships between nail polish brands and sectors such as fashion, entertainment, or beauty. This crossover broadens the market reach by introducing nail polish goods to audiences who may not have previously given them any thought. Collaborations give an organization a competitive edge in a congested market by producing distinctive, preferred items. This distinction draws customers looking for something different from the typical nail polish selections.
- Increasing Focus on Personal Grooming
Activities that involve taking care of one's appearance and well-being are commonly referred to as grooming. It is the skill of keeping up certain bodily components, such as the skin, hair, nails, and face. Nail paint and care are only two waysof how personal grooming has evolved into a form of self-expression. Customers promote a culture of individualism and creativity by using nail polish colours, finishes, and designs to express their personalities, styles, and emotions. Male grooming habits, such as nail care, have increased as a result of changing standards of attractiveness and grooming. The market for male grooming is growing, which increases the number of people who will buy nail polish products.
Opportunity
- Launch of New Products
The worldwide nail polish market has a lot of potential due to innovation in the product line, which helps businesses to adapt to changing and dynamic consumer preferences. The launch raised people’s interest in the beauty and cosmetics industry in addition to satisfying customers' changing preferences. A new product line gives the market more options in terms of colors, finishes, and styles, giving customers more options to express their uniqueness. This variety can build brand loyalty by drawing in new clients and bringing back old ones. A new nail polish line's introduction can also spark trends, impacting the beauty and fashion industries and propelling the market's expansion as a whole. The nail polish market can take advantage of this chance to fortify its position and prosper in a fast-paced and competitive industry by adapting to shifting consumer preferences and launching innovative designs.
Challenges/ Restraints
- Lack of Knowledge Regarding the Use and Importance of Nail Polish
The lack of knowledge regarding the use and importance of nail polish is a widespread issue with far-reaching consequences for public health. One of the primary factors contributing to this lack of awareness is the limited education and information available about hearing protection. Noise-induced Hearing Loss (NIHL) is often a gradual process, and many individuals may not fully grasp the potential harm associated with prolonged noise exposure. As a result, they may underestimate the need for nail polish, especially in everyday situations where noise levels may seem tolerable.
Misconceptions about nail polish also hinder their widespread adoption. People may wrongly believe that nail polish are only necessary in extremely loud environments, such as construction sites or rock concerts. However, even moderately noisy settings, such as busy urban streets or common household activities, can contribute to NIHL over time.
- Consumer Health Concerns and Safety
Consumer health concerns pose a serious threat to the nail polish industry as more customers give priority to the safety and health benefits of beauty products. Conventional nail polish formulas frequently contain ingredients such as formaldehyde, toluene, and di butyl phthalate, which have sparked concerns about their potential effects on health. Customers are closely examining product labels and looking for safer substitutes as a result of their increased awareness of the possible health hazards connected to certain ingredients. The challenge now for nail polish companies is to address these concerns by either introducing alternative formulations that are assumed to be healthier or reformulating their products to remove potentially harmful chemicals.
Nail polish manufacturers must adhere to strict regulatory standards, communicate openly about ingredient safety, and invest in research and development for safer formulations to navigate the changing landscape of consumer health consciousness and preserve brand trust. In a market that is becoming more health-conscious, brands that successfully address these issues stand to gain a competitive edge.
Recent Developments
- 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
- In November 2023, LOREAL PARIS announced That an exclusive, partnership with Cosmo International Fragrances to bring a Green Sciences-based extraction process to revolutionize the art of fine fragrance creation. Developed by Cosmo International Fragrances and made exclusively available to LORÉAL, the patent-pending technology is a waterless, low-energy, slow extraction process that reveals the exact smell of an ingredient while preserving its integrity
Global Nail Polish Market Scope
Global nail polish market is categorized into ten notable segments into coat, finish, product type, nature, category, source, price range, gender, end user, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Coat
- Top Coat
- Base Coat
On the basis of coat, the global nail polish market is segmented into base coat and top coat.
Finish
- Crème
- Chrome / Metallic
- Glossy
- Matte
- Glitter / Shimmer
- Holographic
- Neon
- Foil
- Pearl
- Magnetic
- Acrylic
- Breathable
- Dip Powder
- Shellac
- Others
On the basis of finish, the global nail polish market is segmented into crème, glossy, chrome/metallic, matte, glitter/shimmer, holographic, neon, pearl, foil, magnetic, dip powder, shellac, breathable, acrylic, and others.
Product Type
- Liquid Nail Polish
- Gel Nail Polish
- Others
On the basis of product type, the market is segmented into liquid nail polish, gel nail polish, and others.
Nature
- Photochromic
- Thermochromic
On the basis of nature, the market is segmented into thermochromic and photochromic.
Category
- Organic
- Coventional
On the basis of category, the market is segmented into conventional and organic.
Source
- Water- Based Nail Polish
- Solvent-Based Nail Polish
On the basis of source, the market is segmented into solvent-based nail polish and water-based nail polish.
Price Range
- Mass
- Premium
On the basis of price range, the market is segmented into mass and premium.
Gender
- Male
- Female
On the basis of gender, the market is segmented into male and female.
End User
- Residential/Household
- Commercial
On the basis of end user, the market is segmented into residential/household and commercial.
Distribution Channel
- Store Based Retailer
- Non-Store Retailer
On the basis of distribution channel, the market is segmented into store based retailer and non-store retailer.
Global Nail Polish Market Regional Analysis/Insights
The global nail polish market is categorized into ten notable segments into by coat, finish, product type, nature, category, source, price range, gender, end user, and distribution channel.
The countries covered in the global nail polish market report are U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Switzerland, Russia, Turkey, Belgium, Poland, Sweden, Austria, Norway, Denmark, Ireland, Luxemburg, Finland and Rest of Europe, China, India, South Korea, Japan, Thailand, Australia, New Zealand, Singapore, Indonesia, Malaysia, Taiwan, Hong Kong, Philippines, Rest of Asia-Pacific, Brazil, Argentina, and Rest of South America, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Qatar, and Rest of Middle East and Africa.
North America is expected to dominate in the market owing to the higher level of investments by the manufacturers and the increasing advancement in the excipients. The U.S. is expected to dominate the North America region due to strong presence of key players. China is expected to dominate the Asia-Pacific region due to the mass production of nail polish based products and increasing demand from emerging markets and expansion. Germany is expected to dominate the Europe region due to the increasing demand for beauty care products.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, and impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Nail Polish Market Share Analysis
Global nail polish market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product approvals, product width and breath, application dominance, product type lifeline curve. The above data points provided are only related to the company’s focus on the market.
Some of the major players operating in the global nail polish market are Wella International Operations Switzerland Sarl., NOTE Cosmetique, butter LONDON, Guccio Gucci S.p.A. (A Subsidiary of KERING), Sephora USA, Inc., LORÉAL PARIS, COTY Inc., REVLON, Estee Lauder Companies Inc, Unilever, CHANEL, Fiabila, KEYSTONE INDUSTRIES, IL Cosmetics Group, Light Elegance, AMERICAN INTERNATIONAL, Delia Cosmetics, Alessandro International, and GLOBAL COSMETICS (HK) COMPANY LIMITED among others.
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