Nail Polish Market Analysis of Key Trends and Drivers Shaping Future Growth 2018-2026
Nail polish refers to nail varnish. It is a lacquer used to decorate the nails of the fingers or toes. Nail polish is also used for the protection of nail plates. It is generally available in multiple colors. The rise in the population of women has boosted demand for nail polish across the globe. Consumers are opting for nail polish based on their choice of nail art. Rise in the emphasis on nail care and usage of multi-color enamels on finger and toe nails by consumers are expected to drive demand for nail polish in the coming years. Factors such as increase in the popularity of fashion events and rise in awareness about grooming among women are also promoting the usage of nail polish.
In addition, women working in the corporate sector are concerned about their appearance and therefore wear nail polish. The global nail polish market can be segmented based on product, end-user, distribution channel, and region. Based on product, the market can be categorized into liquid nail polish and gel nail polish. In terms of end-user, the global nail polish market can be divided into individuals, nail salons or nail bars, and other beauty parlors. Based on distribution channel, the global nail polish market can be divided into online distribution channel and offline distribution channel. The offline distribution channel segment can be further classified into large retail store formats, independent retailers, and specialty stores.
In terms of region, the global nail polish market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. In North America, awareness about natural nail polish has propelled the usage of nail polish made with natural ingredients. Moreover, increase in awareness about grooming among women and rise in nail care fashion trends have fueled the demand for nail polish in North America. In Europe, nail polish has emerged as one of the integral parts of women’s fashion trends. Increase in professional nail care services across the region has boosted demand for nail polish. In Asia Pacific, increase in the adoption of nail care fashion trends has fueled the usage of nail polish.
Additionally, penetration of prominent players in the region has promoted the usage of nail polish through marketing campaigns. This is expected to propel the nail polish market in Asia Pacific. In Middle East & Africa, expansion in the retail sector and rise in celebrity endorsements for innovative nail care art are anticipated to drive the nail polish market during the forecast period. South America is also estimated to be an attractive region of the nail polish market, owing to an increase in the number of women. In addition, rise in awareness about innovative products and nail care fashion trends has fuelled demand for nail polish in South America.
Major drivers of the global nails polish market are acceptance of nail care fashion trends, endorsement for nail polish by celebrities, growth in the female population, rise in awareness about the importance of grooming, and increase in disposable income across the globe. However, a major restraint of the global nail polish market is health concerns about the harmful chemicals used for manufacturing nail polish that may led to digestive problems. Nevertheless, rise in demand for organic and natural nail polish, new product development, collaboration with nail salons, and penetration of e-commerce businesses are expected to create significant opportunities for the nail polish market.
Major players operating in the global sport nail market include Revlon, Inc., Essie Cosmetics, Ltd., L’Oreal Paris, Odontorium Product Inc., Creative Nail Design, Inc., Fiabila Cosmetics Co., Ltd., The Estee Lauder Companies, Inc., NARS Cosmetics, China Glaze, Cosmetic Industries, Inc., Sally Hansen, Inc., RGB Cosmetics, Vogue Cosmetics, Procter & Gamble Co., and Coty, Inc..