Nail Polish Market Size, Share & Trends Analysis Report By Product (Regular Nail Polish, UV Gel Nail Polish, Dip Powder, Acrylic), By Distribution Channel (Supermarkets & Hypermarkets, Salons & Spas), By Region, And Segment Forecasts, 2024 - 2030

Nail Polish Market Size, Share & Trends Analysis Report By Product (Regular Nail Polish, UV Gel Nail Polish, Dip Powder, Acrylic), By Distribution Channel (Supermarkets & Hypermarkets, Salons & Spas), By Region, And Segment Forecasts, 2024 - 2030

Nail Polish Market Growth & Trends

The global nail polish market size is anticipated to reach USD 25.82 Billion by 2030 and is projected to expand at a CAGR of 6.9% during the forecast period, according to a new report by Grand View Research, Inc.

The growing demand for nail care products is a significant driver for the growth of the market. As consumers increasingly prioritize self-care and personal grooming, there is a rising interest in maintaining well-manicured nails. The growing awareness of the importance of nail health, the influence of nail trends on social media, and the demand for aesthetically appealing nails have led to a surge in demand for nail care products, including nail polishes.

Furthermore, the growing popularity of DIY beauty tutorials on platforms like Pinterest is projected to create potential growth opportunities for the market to cater to the demand for at-home beauty solutions.

Ciaté, a U.K.-based brand, has experienced a remarkable 300% year-over-year increase in nail polish sales in 2020, according to its founder, Charlotte Knight. Initially established as a nail polish brand in 2009 before expanding into makeup in 2015, nail polish accounted for only 5% of the brand's global sales. However, in the first quarter of 2020, nail polish sales surged to 35% of the brand’s global sales. The growing interest in DIY nail artistry will boost nail polish sales.

A greater number of women are participating in public events and social gatherings, which is one of the major factors boosting the demand for various types of designer and texture-based nail polish. Well-groomed and lacquered nails not only make the hands look enticing but also reflect the amount of care and attention given to the body.

Moreover, in the past, men wearing nail polish was not considered the norm. However, with the changing trends and consumer opinions, men are also painting their nails, not just as a statement but also as a fun fashion detail. Popular celebrities such as Johnny Depp, Brad Pitt, Harry Styles, Zac Efron, and others have used nail polish, increasing the popularity of the product over the last decade.

Key players use strategies such as acquisitions that allow players to quickly expand market share, enhance product portfolios, and access new customer segments. They enable companies to tap into established brands and technologies, accelerating growth and competitiveness in an evolving industry. In August 2023, L’Oréal Groupe closed its acquisition of Australian premium cosmetics brand Aesop from the Brazilian group Natura & Co.

Nail Polish Market Report Highlights

• The UV gel nail polish segment is expected to witness substantial growth over the forecast period. The benefits offered by gel nail polish over regular nail polish such as durability, fast drying, and the glossy look it provides the nails is expected to boost the demand for gel nail polish during the forecast years
• The multi pack nail polish segment is expected to witness substantial growth over the forecast period from 2024 to 2030. The increasing availability of a wide range of nail polish of different brands, free delivery, and seasonal discounts on e-commerce platforms such as Nykaa, and Amazon are among the major reasons driving the segment
• Asia Pacific has accounted for the highest market share in the global revenue in 2023. Asian consumers, most notably in China, India, Japan, ASEAN are increasingly inclining towards nail cosmetics including nail polish which in turn is fueling the growth of the market

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