In 2021, the global nail polish market will be worth USD 13.8 billion. Between 2023 and 2032, this number will grow at a 6.1% compound annual growth rate. The growing demand for nail care products and nail art by consumers, particularly millennials, is one of the main factors driving the market growth.
Nail art and extensions are becoming a part of grooming for millennials. The forecast period will see a rise in demand for the product. The future will see a rise in demand for nail polish made with non-toxic, natural ingredients and lower chemical content.
Driving Factors
Market Growth is a result of the chief drivers. Market growth is driven mainly by the changing fashion trends. The market’s growth is primarily due to health-conscious consumers who demand cosmetics made of non-toxic chemicals. To increase the market size, manufacturers focus on nail polish’s key features such as consistency, stickiness, and long-lasting. These key drivers will ensure that the Non-Toxic Nail Polish Market Report achieves its highest CAGR.
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Restraining factors
The key drivers and players control the marketing issues to achieve a healthy and sustainable CAGR. Each player uses different marketing strategies to keep the market in a single state. The manager and other authorities ensure that the global market grows. They look after the Market Report each year.
Market Key Trends
A combination of increased brand awareness and awareness of beauty trends via magazines and articles is expected to increase the global nail polish industry’s growth. The global nail market is also expected to grow because of rising disposable incomes and rapid urbanization. Additionally, the global nail market will be boosted by a rising awareness of eCommerce platforms and an expanding female population. A positive impact is expected to be made by celebrity endorsements that increase public awareness about nail care fashion trends.
The liquid nail varnish market segment will experience significant growth over the forecast period. Segment growth can be driven by easy application and various colors manufacturers offer. The liquid nail polish segment is expected to grow due to its lower cost than gel-based ones.
Recent development
- Due to the high demand for services, innovation, product launches, and portfolio, the Non-Toxic Nail Polish Industry experienced significant growth during the forecast period.
- Numerous significant brands offer non-toxic nail varnishes with advanced features on the international market.
Key Companies
- Unilever
- Shiseido
- Estee Lauder
- Essie Cosmetics, Ltd.
- Wella Operations US LLC
- Coty, Inc.
- Creative Nail Design, Inc.
- Alessandro International
- CNC International
- Orly International
- NARS Cosmetics, Inc.
- Sally Hansen
- Revlon
- cosnova GmbH (Essence)
- Wella Operations US LLC (O.P.I.)
- L’Oréal S.A.
- Other Key Players
Segmentation
Product
- Gel Nail Polish
- Regular Nail Polish
- Others
Distribution Channel
- Hypermarkets & Supermarkets
- E-commerce
- Specialty Stores
- Others
Key questions
- What is the projected growth rate of the nail polish market through 2027?
- What are the top nail polish market players around the world?
- What are the main factors that hinder growth in the nail polish market?
- What are the main factors that drive growth in the nail polish market?
- What is the compound annual growth rate (CAGR) for the nail polish market over the next 8 years?
- Which region had the largest share of the nail polish market?
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