Nail Care Market will grow at highest pace owing to increasing urbanization and fashion consciousness

The nail care market includes products that are used to groom and beautify nails. Some of the key products in this market include nail polish, nail color, nail polish remover, nail makeup, nail treatment, nail implements etc. Nail care products are extensively used by both men and women to style and enhance the appearance of their nails. Urbanization and increasing fashion consciousness have fueled the demand for high-end nail care products in the developing countries. With rapid growth in urban population, awareness about the latest trends and fashion styles is increasing rapidly. Social media has also played a major role in popularizing different types of nail designs and styles among young consumers globally. The Global Nail Care Market is estimated to be valued at US$ 24.29 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Global Nail Care market Growth are Metro AG, Kroger Company, Carrefour SA, Tesco PLC, Wal-Mart Stores, Inc., Costco Wholesale Corporation, Unilever PLC, Amway, Reckitt Benckiser Group plc, Pepsi Co, Inc., Procter & Gamble, L€TMOreal Group, Nestle S.A., IBM Corporation, Accenture plc, Atos SE, Hewlett €“ Packard Company, PTC, Inc., Centric Software, Dassault Systemes S.A., Autodesk, Inc. Gerber Scientific, Inc., SAP SE, and Oracle Corporation. These key players have established themselves well in the market owing to their wide distribution channels along with strong branding and marketing strategies. Growing urban population coupled with increasing disposable incomes in the developing countries has accelerated the demand for premium nail care products in the recent years. Innovations in nail designs, nail art forms, and introduction of new product formulations to facilitate these designs have expanded the scope of nail care industry. Social media has emerged as a powerful tool to popularize different types of nail styles among the young generation globally. Hence, influencer marketing and digital branding plays an important role in nail care industry. Technological advancements have helped manufacturers to develop innovative nail care tools, implements, and kits. Introduction of tools like Smartphone enabled nail camera, Gel nail LED lamps, etc have made nail art treatments more effective yet easy. Rise of nail art salons and nail experts on internet has made it more convenient for consumers to learn and practice different nail looks easily.

Market Trends

Natural and organic nail care products are increasingly becoming popular among conscious customers owing to safety concerns about synthetic chemicals. Key companies have started offering natural alternatives made from plant-based ingredients. Gel nail treatments that provide long-lasting shine without chipping are a huge trend globally. Gel manicures last for 2-3 weeks and provide a salon finish at home comfort. Functional nail paints that add anti-microbial protection, UV protection, and hardening are expanding the scope of the otherwise embellishing nail care category. Customized nail art tools, kits and stamping designs are allowing hobbyists and nail technicians to offer Pinterest-worthy unique nail looks.

Market Opportunities

Growing market for nail care tools such as dotting tools, nail art brushes, nail cleaners etc presents a good opportunity. Male grooming segment for men's nail care including nail colors, strengtheners, trimmers is emerging. Growing number of professional nail artists globally will drive demand for advanced nail education and certification programs. Innovation in nail colors to suit athletic customers and adventurous lifestyle nail care products will attract new customers.

Impact of COVID-19 on Nail Care Market

The COVID-19 pandemic has significantly impacted the global nail care market. During the initial months of the pandemic, the sales of nail care products declined sharply as salons and beauty parlors were shut down to curb the spread of the virus. Social distancing norms and work from home policies led to a reduction in demand for decorative nail products. However, as people spent more time at home, the demand for basic nail care products saw an increase. With restrictions being eased in various regions, the nail care market is witnessing a steady recovery. Several companies have launched DIY nail care kits comprising essential items like nail paints, polishes, base coat, top coat etc. to capitalize on the growing trend of at-home manicures and pedicures. In the post-COVID era, the market is expected to grow at a healthy rate driven by innovations in nail products, rising focus on self-care and increasing awareness about nail hygiene. Companies are focusing on developing easy-to-use nail items suitable for home applications to cater to the changed consumer behavior in the new normal.

Europe currently accounts for the largest share of the global nail care market in terms of value. The region has a strong foothold of leading nail care brands and a strong perfumes and cosmetics industry. Countries like France, Germany, Italy, UK have a high per capita spending on personal care products including nail care. However, the Asia Pacific region is projected to witness the fastest growth during the forecast period. Rising disposable incomes, growing working women population and increasing influence of western beauty trends are fueling the demand for premium nail care products in countries like China, India and Southeast Asian markets.

North America currently represents the second largest and fastest growing region for nail care market. The demand is predominantly driven by the United States, which has a well-established beauty industry catering to both professional salon services as well as retail nail care ranges. Avid adoption of new trends and abundance of nail art salons further supports market growth. Additionally, presence of key global players and rising focus on grooming and style statement among millennials and Gen Z bode well for the regional market.

Nail Care Market Fastest Growing Region

North America currently represents the second largest and fastest growing region for nail care market. The demand is predominantly driven by the United States, which has a well-established beauty industry catering to both professional salon services as well as retail nail care ranges. Avid adoption of new trends and abundance of nail art salons further supports market growth. Additionally, presence of key global players and rising focus on grooming and style statement among millennials and Gen Z bode well for the regional market. Growing consumer inclination towards DIY nail treatments during the pandemic has further augmented the sales of nail care products in the region.