The nail care market across the globe is likely to grow by USD 6775.51 million from 2023 to 2027. A study by Technavio estimates that the market will grow at a CAGR of 5.01% by 2027. Vidhi Arya from Professional Beauty India breaks down the study. Read along to learn more about the key drivers of this growth.
The nail care market is a thriving one catering to fashion-conscious as well as a wellness-conscious population. A wide array of products, including nail paints, nail strengtheners, removers, cuticle oils and creams, and manicure and pedicure kits form a part of this rapidly expanding market. As the market offers a variety of organic and synthetic options, the organic options are gaining popularity due to the rampant alignment with eco-friendliness while people are scrutinising the synthetic options due to the presence of ingredients like parabens and phthalates.
The APAC Contribution to the Global Nail Care Market
As the industry is poised to see growth across the globe, a major contribution towards it is likely to come from the Asia Pacific region. As the APAC region boasts the largest of the global market share in 2022, it will further witness an incremental growth of 42%. The biggest market is China.
The growing affinity towards nail art, artificial nails, and healthy-looking nails har propelled the growth in this region. Shiseido, Estee Lauder, L’Oreal, and Revlon are some of the brands that dominate the market.
With rampant increases in easily available kits, omnichannel presence, easy payment method integration, and rapidly changing trends, the inclination towards nail care is growing.
In the APAC region, artificial nails of various materials, paints in various textures, and creams and products for various wellness purposes continue to captivate consumers.
Factors Driving the Growth
Particularly appealing to the millennials and Gen Z, young adults, working women, and metropolitan men are key consumers of the grooming products falling under this market. Beauty salons, nail salons, and beauty professionals continue to be major drivers of this growth as they continue to bring out professional services tailor-made for various needs and preferences.
Moreover, it’s no longer just women who partake in nail care indulgence. With several celebrities such as Bad Bunny and Harry Styles wearing nail polish, men are slowly but surely becoming a part of this market. Also, a number of male celebrities launching their nail paint lines have increased awareness. For example, Machine Gun Kelly introduced a nail polish brand called Un/dn Laqr in 2021. It is an exclusive line for all genders and age groups.
Artificial nails are a huge hit and this market is likely to grow at a CAGR of 5.6% from 2022 to 2030. With loads of new tech for artificial nails, new trends, and new brands, the market is booming. For instance, Sonakshi Sinha launched SOEZI in India, a press-on nails brand
Furthermore, the rapid increase in tech-based experiences has also driven the growth. Experiences like virtual try-ons and AI nail arts, amongst others have propelled experimentation amongst consumers. Consequently, this is further leading to the market growth.