Nail Care Market Growth Accelerated by Rise in Concern for Self-grooming
Nail Care Market |
The global nail care market is estimated to be valued at US$ 21.08 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Nail care products including nail polish, nail color, nail treatment, and others are witnessing significant demand majorly from female population. Nail polishes are available in variety of shimmering colors, texture, and formula to cater to evolving fashion and beauty trends. Growing working women population with increased disposable income is favoring adoption of nail care products to enhance personality and appearance. Moreover, products like nail strengtheners help to improve and maintain health of nails.
Market key trends:
The rise in concern for self-grooming among consumers is one of the major
trends fueling growth of the global nail care market. Changing lifestyle,
fashion trends, rise of social media, and increased disposable income have
encouraged consumers to spend more on personal care and beauty products
including nail care. Further, emphasis on personality development and physical
appearance has positively impacted adoption of nail polishes, nail paints,
treatments, and other beauty products. Launch of luxurious and premium nail
care ranges by key players as per evolving fashion and unique nail art is
attracting consumers. Innovation in terms of product attributes such as long
lasting nail color, chip resistant finish, quick drying formulation is
generating significant demand in the nail care market.
Segment
Analysis
The global nail care market is dominated by the nail polish sub-segment. Nail
polish accounts for over 40% market share in 2024 owing to rise in fashion
consciousness and increasing demand for bright and shiny nail colors among
consumers. The nail treatment sub-segment is expected to witness fastest growth
during the forecast period due to rising awareness about nail health and
hygiene.
Key Takeaways
Global
Nail Care Market Size is expected to witness high growth during the
forecast period of 2023 to 2030. Rapid urbanization, rising cosmetic industry
and increasing spending on personal grooming are some key factors driving the
market.
Regional analysis: North America region currently holds the largest share in
global nail care market driven by high fashion consciousness and rise in male
consumer base in countries like United States. Asia Pacific region is expected
to witness fastest growth during the forecast period owing to increasing
spending on premium beauty products in evolving economies like India and China.
Rising middle class population and growing women workforce in the region are
positively impacting the market growth.
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