Nail Care Products Market to Reach a Valuation of US$ 38.5 Billion by 2033 Amid Rising Impact of Social Media Beauty Influencers | FMI
Anticipated to thrive during the forecast period, the United States nail care products market is being propelled by a rising beauty and personal care awareness and evolving preferences as consumers seek a balance between professional salon services and DIY nail care at home.
NEWARK, Del, Sept. 28, 2023 (GLOBE NEWSWIRE) — The global nail care products market revenue reached US$ 22.3 billion in 2022. Sales of nail care products are estimated at US$ 23.7 billion in 2023. Demand is poised to exhibit a 5.0% CAGR between 2023 and 2033. Revenue is anticipated to total US$ 38.5 billion by 2033.
Consumers are becoming more conscious of self-care and grooming routines, including nail care. This trend will lead to high demand for nail care products as people seek to maintain healthy and well-groomed nails. Consumers now view nail health as a hygiene component, leading to the adoption of nail care products such as sanitizers.
Awareness campaigns and educational initiatives have informed consumers about these issues, prompting them to seek solutions through nail care products.
Social media platforms have played a significant role in disseminating nail care information and trends. Nail influencers and beauty bloggers share tips, tutorials, and product recommendations, influencing consumer choices and driving product demand.
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Increasing awareness of the potentially harmful effects of certain chemicals in nail products has shifted consumer preferences towards natural and organic nail care alternatives, creating a niche market within the industry.
As awareness rises, consumers seek innovative and specialized nail care products, such as nail serums, cuticle oils, and specialized treatments. This will help in contributing to market growth and product diversification.
The awareness of nail health has also expanded to the male demographic as men increasingly incorporate nail care into their grooming routines. This will create additional demand for gender-neutral or male-targeted nail care products.
The awareness of nail health has led to increased footfall in nail salons and the utilization of professional nail care services. This will, in turn, boost the sales of professional-grade nail care products. Awareness levels vary across regions, and global brands often tailor their products and marketing strategies to align with regional preferences and concerns related to nail health.
Key Takeaways from the Nail Care Products Market Report:
- The global nail care products market is estimated to reach US$ 38.5 billion by 2033.
- Sales of nail care products are projected to expand at a CAGR of 5.0% from 2023 to 2033.
- The United Kingdom is set to reach US$ 1.5 billion by 2033 in the nail care products market.
- China is projected to total US$ 5.9 billion by 2033.
- Based on product type, the nail polish segment is estimated to expand at a CAGR of 4.8% from 2023 to 2033.
“Rising nail art trend provides an opportunity for the growth of nail care products market by 2033. Key manufacturers are working on providing nail paints in different textures, colors, forms, and on both offline and online channels to attract more customers.” – says Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI)
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Competitive Landscape
Key manufacturers prioritize e-commerce channels, optimizing their online presence to reach a broad customer base. Nail care product manufacturers increasingly adopt eco-friendly and sustainable practices in packaging and formulations to meet consumer demands for eco-conscious products.
They also offer personalized nail care solutions, such as nail kits tailored to individual preferences and needs. Manufacturers incorporate vitamins and minerals into nail care products to promote nail health.
Key Companies Profiled
- Miniluxe Inc.
- L’oréal S.A.
- The Estée Lauder Companies Inc.
- Shiseido Company Limited
- NOTE Cosmetique
Nail Care Products Market Recent Development:
- In May 2022, Dana Nail Care was acquired by Rare Beauty Brands in November.
- In September 2022, SOEZI collaborated with Amazon Beauty to offer the best nail care regimen. It will select among the platform’s more than 100 designs.
- In August 2019, Entity Beauty celebrated the introduction of their brand-new website, which comes with an enhanced user experience, updated navigation, and improved functionality.
Find More Valuable Insights into the Nail Care Products Market Report
The research report analyzes the demand for nail care products. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both supply-side and demand factors.
As per Future Market Insights (FMI), the market has been analyzed based on product type (nail polish, top & base coats, nail polish remover, cuticle care, and others), distribution channel (online and offline) across various regions.
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Nail Care Products Market Outlook by Category:
By Product type:
- Nail Polish
- Top & Base Coats
- Nail Polish Remover
- Cuticle Care
- Others
By Distribution Channel:
- Offline
- Online
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and the Pacific
- Middle East and Africa
Author:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, and technology projects, and driving successful implementations. She has helped create insightful, relevant analyses of Food and beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
Explore FMI’s Extensive Ongoing Coverage in the Consumer Product Domain
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