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Classified in: Covid-19 virus
Subject: MRR

Nail Care Products Market to grow at a CAGR of 5.01% from 2022 to 2027; The growing adoption of home salon services to be a major trend in the market - Technavio


NEW YORK, March 24, 2023 /PRNewswire/ -- The nail care products market is estimated to grow by USD 6,775.51 million from 2022 to 2027. The market will progress at a CAGR of 5.01% during the forecast period. The rising adoption of home salon services is a key trend influencing the growth of the nail care products market. The number of vendors offering app-based salon services providing at-home grooming services has increased over the last decade. There are various salon service providers in the market that offers customized grooming services at home. For instance, in India, Housejoy offers at-home salon services, such as nail care, overall grooming, and spa services. Such at-home grooming services accelerate the volume consumption of the nail care products like nail polish removers, nail massage creams, and new nail polish shades. Hence, the rising adoption of home salon services with personalized grooming services is expected to support the growth of the market during the forecast period.

What's New?

Major Challenge hindering the market growth - 

The availability of counterfeit nail care products is a major challenge that may impede the nail care products market growth. The existence of counterfeit nail care products in distinct categories, such as nail polishes, nail polish removers, artificial nails and accessories, and other nail accessories affects the sales volume of genuine brands and causes health concerns. It is also difficult to differentiate counterfeit products from genuine brands. Hence, counterfeit products sold at low prices to attract price-sensitive customers affect the pricing strategies of major market players.

To learn about additional key drivers, trends, and challenges available with Technavio. Read our Sample Report right now!

Nail Care Products Market - Segmentation Analysis

The nail care products market report is segmented by product (nail polish, nail accessories and implements, nail polish remover, nail strengthener, and others), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

The market share growth by the nail polish segment will be significant for market growth during the forecast period. Consumers prefer quick-dry features in gel-like polishes and long-wear nail lacquers including colors like creamy blue, soft red, royal dark teal, milk chocolate, and glossy fuchsia, Manufacturers launch different collections on a seasonal basis and focus on glossy and long-lasting nail paints, and vendors who offer trendy nail polish colors and shades are expected to register higher sales compared to their counterparts. Hence, such product offerings are expected to increase the sales of nail care products during the forecast period. 

Geographic Overview - 

APAC is estimated to account for 42% of the global market growth during the forecast period. The region has some of the top brands such as Shiseido Co. Ltd., The Estee Lauder Co. Inc., LOreal SA, and Revlon Inc., which have a considerable presence in various countries of the region. Nail art and the use of artificial nails and accessories are trends that further attracted many vendors to this region. Hence. the growing demand for new and improved products is also expected to fuel the growth of the nail care products market in APAC during the forecast period.

View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.

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The UV nail gel market has the potential to grow by USD 25.00 million during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 7.38%. The growing need for sustainable UV nail gels has resulted in the development of UV nail gels made from organic or bio-based materials.

The artificial nails market size is expected to increase by USD 265.25 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.59%. The growing adoption of nail art is notably driving the artificial nails market growth.

Nail Care Products Market Scope

Report Coverage

Details

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.01%

Market growth 2023-2027

USD 6,775.51 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

3.95

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 42%

Key countries

US, China, India, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

American International Industries, Amorepacific Corp., Amway Corp., Beiersdorf AG, Brandloft Ltd., CHANEL Ltd., Coty Inc., Edgewell Personal Care Co., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, Nails.INC Ltd., Natura and Co Holding SA, Olive and June LLC, Oriflame Holding AG, Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Co. Inc., Unilever PLC, and The Procter and Gamble Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse through Technavio's Consumer Staples Market Reports

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Distribution Channel

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

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.

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Email:media@technavio.com
Website: www.technavio.com/

SOURCE Technavio


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