The Nail Care market is primarily driven by the growing demand for nail art and nail care treatments across salons and nail spas. Nail art services and products such as nail polishes, accessories, nail strengtheners, and other treatments help enhance the appearance of nails and hands. Rising modern lifestyles and increased disposable incomes have encouraged several consumers to spend more on personal grooming and beauty regimes where nail care plays an important role. Over the years, the market has witnessed innovations such as gel nail polishes, nail hardeners, scrub exfoliants, and cuticle conditioners which provides a range of benefits such as smooth and shiny nails. 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. Key players such as L'Oreal Group and Coty account for a major market share owing to their vast product portfolios and global distribution networks.
The growing demand for nail care treatments and products is majorly driven by the rise in disposable incomes and growing urbanization. With the booming middle-class population across developing regions, consumers are willing to spend more on luxury and premium nail care brands. Additionally, the availability of salon services and do-it-yourself nail products through retail stores and e-commerce has further fueled the market growth over the years.
The global nail care market has witnessed steady expansion over the past few years with companies focusing on expanding their business operations across international markets. Regions such as Asia Pacific and Middle East are expected to showcase high growth opportunities for nail care players owing to rapidly growing beauty and cosmetic industries in the countries.
Market Drivers
One of the key drivers for the global nail care market is the rise in demand for luxury and premium nail care products. With the growing beauty consciousness among consumers, there is significant demand for professional nail services along with premium nail polishes, accessories, and treatments. Luxury brands are launching a wide range of product lines catering to niche consumer segments worldwide which is augmenting the market revenue. Additionally, the increasing spending capabilities of consumers on personal grooming regimes is further boosting the sales of nail care products and services globally.
The demand for nail care products and services is gaining momentum in East Asia, especially China. With improving living standards and exposure to global beauty trends via social media and online platforms, more Chinese women are embracing nail art and manicures as a form of self-care and expression of individual style. Domestic nail care brands as well as international players like OPI and Essie have established a strong presence here. Moreover, China also serves as the world's largest manufacturing base for several raw materials used extensively in nail care items like acrylic powder, gel liquid and polish remover solvents. This enables nail care companies to produce affordably for both domestic consumption as well as exports across Asia and globally, making East Asia an increasingly important market. The combination of growing demand and powerful manufacturing capabilities cement the region's rise as the dominant force behind future expansion of the global nail care industry.
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