Nail Care Products Market, 42% of Growth to Originate from APAC, Technavio
NEW YORK, April 17, 2024 /PRNewswire/ -- The global nail care products market size is estimated to grow by USD 6775.51 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 5.01% during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 42%.
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APAC is expected to play a pivotal role in propelling the global nail care products market
Geographic Landscape:
The APAC nail care products market is thriving, with beauty salons, pharmacies, supermarkets, company-owned stores, and online sales channels catering to the demand for grooming essentials. Brands like Shiseido, Estee Lauder, L'Oreal, and Revlon dominate the market, particularly in China, the region's largest market. The trend of nail art and artificial nails has fueled growth, attracting millennials and Gen-Z populations with disposable income. Working women and college-going girls seek convenient options like Maybelline's DIY nail kits, mobile-based apps, free product delivery, and easy payment methods. Beauticians offer manicures and pedicures, while influencers, celebrities, and fashion reality shows promote the latest trends, such as gel-based manicures, raw materials, and changing lifestyles. Accessories, artificial nails, and nail polishes in various textures, strengtheners, removers, cuticle creams, and chrome nails continue to captivate consumers. Dip powder manicures and French tips remain popular choices.
Research Analysis
The Nail Care Products Market is a thriving industry that caters to the fashion-conscious and appearance-focused population, particularly millennials and Gen-Z. This market encompasses a wide range of offerings, including nail polishes, strengtheners, removers, cuticle creams, manicures, and pedicures. With the integration of technology, virtual try-on experiences have become increasingly popular, allowing consumers to experiment with different shades and designs from the comfort of their homes. The market offers both organic and synthetic products, with organic options gaining popularity due to health concerns. Parabens and phthalates, common ingredients in synthetic products, have raised concerns among consumers. Working women and college-going girls, with disposable incomes, are key consumers of these grooming products. Beauty salons and beauticians continue to play a significant role in the market, offering professional services such as dip powder manicures and nail art designs. Overall, the Nail Care Products Market is a dynamic and evolving industry that continues to adapt to consumer trends and preferences.
Market Drivers
The Nail Care Products Market caters to the increasing demand for non-toxic solutions among young and millennial women. Companies like Karma Organic Spa, ZOYA, and Essie lead this trend, offering polishes free from toluene, formaldehyde, and DBP. Apricot active extracts, green tea, rosemary, and Artic cranberries are popular natural ingredients. Retail stores, DIY trends, manicures, and nail spas stock these eco-friendly alternatives. Recycled materials, glitterbels, and hema-free gel polish are other emerging trends. The household segment, retail shops, beauty salons, pharmacies, supermarkets, company-owned stores, and online sales dominate the market. Social media marketing, free product delivery, and easy payment methods are key strategies. Brands like Maybelline cater to the disposable income and grooming needs of millennials and Gen-Z population. Beauticians, influencers, celebrities, and fashion reality shows promote these beauty products. Accessories, DIY nail kits, and artificial nails are additional offerings. Changing lifestyles and raw materials continue to influence the market.
Market Overview
The Nail Care Products market is a significant segment in the beauty industry, featuring a variety of offerings such as polishes, bases, topcoats, treatments, and tools. These products cater to consumers seeking to maintain healthy and attractive nails. Nail polishes come in an array of colors and finishes, while bases and topcoats ensure longevity and protection. Treatments include strengtheners, hardeners, and removers, addressing common nail concerns. Tools like nail files, buffers, and cuticle care products complete the range. Producers like Organic Nail, OPI, and Sally Hansen manufacture these products, providing consumers with a choice of professional and DIY options. The market is projected to grow due to increasing consumer awareness and the trend towards self-care and personalization.
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About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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