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Nail Polish Market by Product Type (Regular, Gel, Acrylic, Polygel, Dip Powder, Others (Builder Gel, Hard Gel Nail Polish, etc)), by Consumer Group (Men, Women, Kids), by Distribution Channel (Online, Offline), by North America (U.S., Canada), by Europe (UK, Germany, France, Italy, Spain, Rest of Europe), by Asia Pacific (China, India, Japan, South Korea, Australia, Malaysia, Indonesia, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Rest of Latin America), by MEA (South Africa, Saudi Arabia, UAE, Rest of MEA) Forecast 2025-2033
The size of the Nail Polish Market was valued at USD 9.5 Billion in 2023 and is projected to reach USD 14.47 Billion by 2032, with an expected CAGR of 6.2% during the forecast period. Nail polish market is growing because of the constant requirement for varieties in colors, finishes, and formulations. It is now being demanded by consumers in long-lasting, quick-drying, chip-free nail polishes and other innovative definitions of nail polish to be used at home, with some DIY kits for manicure which are professionally exported. Increased popularity in the tendency and use of DIY manicures at home has been enhanced by the access to ready-to-use products in nail care kits and professional products. Further, the need for adopting non-toxic, cruelty-free, as well as eco-friendly nail paints is also increasing for the consumer.
The Nail Polish Market exhibits a fragmented vendor landscape, with no single player holding a dominant market share. However, key players such as L'Oreal Group, Unilever Group, and Procter & Gamble have a significant presence and are actively investing in product development and innovation.
The market is highly competitive, with companies constantly striving to differentiate their offerings through unique formulations, branding, and packaging. Regulations governing the use of certain chemicals in nail polishes have influenced the market landscape, leading to the development of safer and more eco-friendly products.
Product substitutes such as gel extensions and acrylic nails may pose challenges to the nail polish market, but the convenience and affordability of nail polishes continue to drive demand. Mergers and acquisitions are prevalent in the industry, as companies seek to expand their market share and gain access to new technologies.
The Nail Polish Market is witnessing several key trends:
Key Region: Asia Pacific
Dominant Segment: Gel Nail Polishes
The Asia Pacific region is expected to maintain its dominance in the Nail Polish Market due to the growing beauty consciousness and disposable income in countries like China and India. Gel nail polishes are gaining significant popularity in this region due to their extended wear time and durability.
The Nail Polish Market Research Report provides comprehensive coverage of the market, including:
Market Size: $9.5 Billion
Market Share: Fragmented
Growth Rate: 6.2% CAGR
The Nail Polish Market is projected to continue its steady growth, driven by the increasing demand for nail care products and the introduction of innovative formulations.
October 2023: L'Oréal invests in Shinehigh Innovation for eco-friendly beauty solutions.
April 2023: Givaudan acquires cosmetic ingredients portfolio from Amyris for sustainable beauty products.
March 2022: L'Oréal, Unilever, and Kao invest in Geno for bio-based alternatives in nail polishes.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 6.2% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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