A cosmetic lacquer called nail polish is applied to fingernails or toenails to improve their appearance. It's a liquid mixture made up of additives, solvents, film-forming agents, and coloured pigments. It creates a tough, ornamental, and protective layer on the nails after application and drying. There are many different types of nail polish, including conventional, gel, and water-based formulations, and finishes including shimmer, matte, and glossy. Its main purpose is to give nails some colour, flair, and gloss. It is a common fashion statement and beauty accessory.
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Data Bridge Market Research analyzes that the Global Nail Polish Market is expected to grow at a CAGR of 8.4% in the forecast period of 2024 to 2031 and is expected to reach USD 23,163,296.96 thousand by 2031 from USD 475,231.72 thousand in 2023.
Key Findings of the Study
Increasing Focus on Personal Grooming
Activities that involve taking care of one's appearance and well-being are commonly referred to as grooming. It is the skill of keeping up certain bodily components, such as the skin, hair, nails, and face. Nail paint and care are only two ways of how personal grooming has evolved into a form of self-expression. Customers promote a culture of individualism and creativity by using nail polish colours, finishes, and designs to express their personalities, styles, and emotions. Male grooming habits, such as nail care, have increased as a result of changing standards of attractiveness and grooming. The market for male grooming is growing, which increases the number of people who will buy nail polish products. Customers are encouraged to match nail polish colours with their outfits because of fashion-forward trends and the close correlation between nail paint and fashion preferences. This meeting of elements promotes nail care as a necessary part of a professional look and personality, thereby elevating it to the status of self-care and supporting the ongoing expansion of the worldwide nail polish industry. Thus, the increasing focus on personal grooming is driving the market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Year
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2022 (Customizable to 2016–2021)
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Quantitative Units
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Revenue in USD Thousand, Volume and ASP in ml
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Segments Covered
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Coat (Base Coat and Top Coat), Finish (Crème, Glossy, Chrome/Metallic, Matte, Glitter/Shimmer, Holographic, Neon, Pearl, Foil, Magnetic, Dip Powder, Shellac, Breathable, Acrylic and Others), Product Type( Liquid Nail Polish, Gel Nail Polish, and Others), Nature (Thermochromic and Photochromic), Category (Conventional and Organic), Source (Solvent-Based Nail Polish and Water- Based Nail Polish), Price Range (Mass and Premium), Gender (Male and Female), End User (Residential/Household and Commercial), Distribution Channel (Store Based Retailer and Non-Store Retailer)
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Switzerland, Russia, Turkey, Belgium, Poland, Sweden, Austria, Norway, Denmark, Ireland, Luxemburg, Finland and Rest of Europe, China, India, South Korea, Japan, Thailand, Australia, New Zealand, Singapore, Indonesia, Malaysia, Taiwan, Hong Kong, Philippines, Rest of Asia-Pacific, Brazil, Argentina, and Rest of South America, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Qatar, and Rest of Middle East and Africa
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Market Players Covered
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Wella International Operations Switzerland Sarl. (Switzerland), NOTE Cosmetique (France), butter LONDON (U.S.), Guccio Gucci S.p.A.( A Subsidiary of KERING) (Italy), Sephora USA, Inc. (U.S.), LORÉAL PARIS (France), COTY Inc. (U.S.), REVLON (U.S.), Estee Lauder Companies Inc (U.S.), Unilever (U.K.), CHANEL (U.K.), Fiabila (France), KEYSTONE INDUSTRIES (New Jersey), IL Cosmetics Group (Luxembourg), Light Elegance (U.S.), AMERICAN INTERNATIONAL (U.S.), Delia Cosmetics (Poland), Alessandro International (Germany), and GLOBAL COSMETICS (HK) COMPANY LIMITED (China) among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour
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Segment Analysis
Global nail polish market is segmented into ten notable segments based on coat, finish, product type, nature, category, source, price range, gender, end user, and distribution channel.
- On the basis of coat, the global nail polish market is segmented into base coat and top coat
In 2024, the top coat segment is expected to dominate the market
In 2024, the top coat segment is expected to dominate the market with a market share of 60.90% as it provide smooth finish, stay for longer time period and prevent from damage and staining.
- On the basis of finish, the global nail polish market is segmented into crème, glossy, chrome/metallic, matte, glitter/shimmer, holographic, neon, pearl, foil, magnetic, dip powder, shellac, breathable, acrylic, and others
In 2024, the crème segment is expected to dominate the market
In 2024, the crème segment is expected to dominate the market with a market share of 15.95% due to the basic and long lasting finish.
- On the basis of product type, the market is segmented into liquid nail polish, gel nail polish, and others. In 2024, the liquid nail polish segment is expected to dominate the market with a market share of 50.82%
- On the basis of nature, the market is segmented into thermochromic and photochromic. In 2024, the thermochromic segment is expected to dominate the market with a market share of 54.17%
- On the basis of category, the market is segmented into conventional and organic. In 2024, the conventional segment is expected to dominate the market with a market share of 77.19%
- On the basis of source, the market is segmented into solvent-based nail polish and water-based nail polish. In 2024, the solvent- based nail polish segment is expected to dominate the market with a market share of 66.01%
- On the basis of price range, the global nail polish market is segmented into mass and premium. In 2024, the mass segment is expected to dominate the market with a market share of 77.65%
- On the basis of gender, the market is segmented into male and female. In 2024, the female segment is expected to dominate the market with a market share of 68.00%
- On the basis of end user, the market is segmented into residential/household and commercial. In 2024, the residential/household segment is expected to dominate the market with a market share of 60.93%
- On the basis of distribution channel, the market is segmented into store based retailer and non-store retailer. In 2024, the store-based retailer segment is expected to dominate the market with a market share of 57.89%
Major Players
Data Bridge Market Research analyzes LORÉAL PARIS (France), COTY Inc. (U.S.), Estee Lauder Companies Inc (U.S.), Unilever (U.K.), and CHANEL (U.K.) as the major market players in the global nail polish market.
Market Developments
- In December 2023, LOREAL PARIS announced that it has completed the acquisition of Lactobio, a leading probiotic and microbiome research company based in Copenhagen. The acquisition also opens up new scientific opportunities, including leveraging Lactobio’s microbiome expertise and significant IP portfolio to develop safe and effective new cosmetic solutions using live bacteria. This has helped the company to expand its business
- In December 2023, The Estée Lauder Companies Inc. attended AFROTECH for the first time as an official sponsor. The employees had an opportunity to connect with leading talent in tech, deliver branded activations, and speak on the Women’s Summit mainstage for conversations focused on the advancement of technology in the beauty industry. This has helped the company to showcase its resources
- In September 2023, Revlon announced the appointment of new brand ambassador Nailea Devora as Global Brand Ambassador for Revlon. The company said Nailea will curate captivating social media content across platforms, feature on in-store displays and play a key role in the brand's 2024 digital media and advertising campaigns. This has helped the company to showcase its product by broadcasting
- In January 2023, Wella International Operations Switzerland Sàrl. owns the brand OPI which present a brand-new line of artificial nails called OPI xPRESS/ON Big Zodiac Energy, which boasts an impeccable gel-like finish, professional quality, and colour and designs that are off the charts trendy. Ultra Beauty is the exclusive retailer of OPI xPRESS / ON Nails. The twelve salon manicures that resemble press-on gel provide 14 days of wear for effortless immediate xPRESS. xPRESS/ON by OPI is vegan. The nails are reusable, and the sets and packaging are composed of 94% recycled post-consumer materials. This has helped the company to provide more trending product options
- In January 2023, Wella International Operations Switzerland Sàrl., which owns the OPI brand, presents On Point, a brand-new fast press-on manicure. On Point offers up to 14 days of extra-long wear, with its gel-like texture and trademark hues. On Point is now the quickest way to obtain an OPI salon-quality manicure at home or on the road smooth adhesion and comfortable fit
Regional Analysis
Geographically, the countries covered in the global nail polish market report are the U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Switzerland, Russia, Turkey, Belgium, Poland, Sweden, Austria, Norway, Denmark, Ireland, Luxemburg, Finland and Rest of Europe, China, India, South Korea, Japan, Thailand, Australia, New Zealand, Singapore, Indonesia, Malaysia, Taiwan, Hong Kong, Philippines, Rest of Asia-Pacific, Brazil, Argentina, and Rest of South America, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Qatar, and Rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
North America is the dominant and fastest-growing region in the global nail polish market
North America is expected to dominate the market owing to the higher level of investments by the manufacturers and the increasing advancement in the excipients. This is due to the growing trend and demand of personal grooming with rising focus on beautification. In addition to this, the growing usage of the nail care products among the population including male are expected to propel the market growth in this region.
For more detailed information about the global nail polish market report, click here – https://www.databridgemarketresearch.com/reports/global-nail-polish-market
