Nail Care Market Assessment, By Category [Nail Polish-Liquid Polish, Gel Polish, Top and Base Coat, Others; Nail Polish Removers, Nail Extensions, Nail Accessories, Others], By End-user [Professional, Individual], By Distribution Channel [Online, Offline]

Nail Care Market Assessment, By Category [Nail Polish-Liquid Polish, Gel Polish, Top and Base Coat, Others; Nail Polish Removers, Nail Extensions, Nail Accessories, Others], By End-user [Professional, Individual], By Distribution Channel [Online, Offline], By Region, Opportunities, and Forecast, 2016-2030F

The Global Nail Care market is one of the fastest-growing markets in the world right now, it is projected to grow at 5.45% CAGR for the forecast period between 2023-2030. Due to people focusing more on personal care and hygiene, nail care has become an important component. From using nail polish to oils to artificial accessories, nails have become an important aspect of beauty and personal grooming. Worldwide brands are offering different types of nail care products to customers to fulfil their needs and cope with the changing environment in the fashion industry.

Nail Care market is expected to reach USD 21.73 billion by 2030 from USD 14.21 billion in 2022 owing to strong demand for various products in the segment. Manicure and pedicure product kits have become important aspect of beauty stores and spas where customers can relate easily to the brand and its product and service. Increasing awareness, disposable income and rising women’s workforce are some key important factors that are driving the growth of the market for nail care, globally. The influence of social media, developments in technology and the growth of e-commerce channels have created more awareness and expanded the market with easy accessibility all over the globe.

New brands are emerging in the market providing solutions specifically for nails. In January 2023, a brand-new nail care brand called Unglis.com just entered the Indian market with the intention of revolutionizing how customers care for their nails. It generated a strong consumer response in just one week, generating more than 3,500 orders and revenue of more than USD 18,000 in sales.

Innovative Nail Art Accessories

Nail art and colour choices are viewed as a means of personal expression and fashion. As fashion trends shift, there is an increasing need for nail care goods and services that go with the newest trends for getting matching nail arts according to clothing and makeup. The current fashion is tilted towards having clean nail polish or nail art that matches the attire for the day, starting with well-groomed nails. The best pedicure suggestions go beyond choosing nail paint for toes, it is also about the colours that will go best with a manicure.

With a growing demand for nail art across the globe, especially among youth, working women and brides, the nail care market has been gaining tremendous popularity and nail care professionals are coming up with innovative nail art ideas which require high-quality UV gels, top and base coats, and related accessories including stones, dry flowers, stickers and many more. Innovations like marble look, chrome, ombre and gradient nail art, French manicure, glitter paints, and matte finish topcoats have all taken the nail care market to a whole new level worldwide.

Social Media and Influencer Influence

Nail care has become very popular owing to social media sites like Instagram, TikTok and YouTube. These websites have become a major hotspot for nail art and nail care trends as social media networks offer a venue for direct communication between customers and influencers. Customers can discuss nail care products and methods, ask for advice and seek recommendations. Influencers and beauty bloggers frequently share nail care advice, product reviews, and tutorials to encourage their audience to experiment with various nail care methods and products. This interaction creates brand loyalty and develops a sense of community among fans of nail care products.

The Advertising Standard Council of India reports that 79% of people believe in social media influencers. Customers cited relatable content and personal experience as the top reasons they trust social media influencers, followed by transparency and honesty.

Government Regulations

In the United States, FDA is the regulatory authority of nail products for both personal and commercial purposes. Under FD&C Act, nail products are covered under the umbrella of cosmetics. Apart from the majority of colour additives, nail products and ingredients, are not required by law to receive FDA approval before to release on the market. In most countries and as per WTO guidelines, nail care products must comply with specific labelling requirements. Labels must provide accurate and clear information, including the product's intended use, directions for use, ingredient list, warnings or precautions, and contact information for the manufacturer or distributor. The product must be packaged in appropriate airtight sealed containers that will safeguard the contents and prevent from contamination.

EU Commission Regulation stated, Nail products with HEMA and Di-HEMA TMHDC should only be used by experts, as doing so is believed to be safer for the customer. As a result, the warning ""for professional use only"" should be put on the container of such goods. On the packaging of nail products containing HEMA and Di-HEMA TMHDC, a notice that the product ""can cause an allergic reaction"" should be added.

Growing Nail Bars and Nail Salons

Spas and salon network that provides nail care have expanded significantly in recent years. As people place a higher priority on personal care, aesthetic treatments, and grooming, there is a rising need for professional nail care services. The market has grown to serve a wide range of customers, including both men and women of various age groups. One of the reasons for the increased sales numbers of nail care products is due to high consumption by the expanding network of nail salons and nail bars in various regions all over the globe. These businesses provide expert nail care services, such as manicures, pedicures and nail enhancements, which fuels the demand for complementary goods as well.

Customers have a variety of options, including gel nail extensions, artificial nails, gel overlays, nail art, and specialised nail care services like paraffin treatments, cuticle care, and nail repairs. Businesses can accommodate a wide range of consumer preferences due to their diversified service offerings.

Technological Advancements and Innovation

The composition of products and methods of application are undergoing technical advancement in the nail care sector. Market expansion is being driven by innovations like long-lasting nail paints, gel polishes, nail art tools and nail extensions because they provide improved durability, convenience, and a multitude of design options. To adapt to consumers' shifting preferences, businesses regularly provide new colours, finishes and effects. This vast variety of options encourages customers to try out various nail care products and helps the market to expand.

The nail care industry has begun to adopt VR and AR technologies, Sally Hansen is one such example. Sally Hansen launched a virtual try-on feature where customers can virtually try on numerous nail polish colours or nail art patterns before making a purchase thanks to these capabilities. These technologies help customers in a better decision-making process and at the same time, client satisfaction is raised through this immersive experience.

Impact of COVID-19

The impact of covid-19 lockdowns, social segregation policies and governmental restrictions was clearly visible in developing and developed countries. It resulted in the temporary closure of numerous nail salons and spas. Businesses in the nail care industry experienced a reduction in income as a result of policies in response to COVID-19, which lead to financial difficulties faced by consumers during tough times. Due to staying-at-home measures and the closure of nail salons consumers shifted to nail care at-home practices. Influencers and content creators in the nail care industry frequently shared DIY instructions and step-by-step tutorials for nail art and manicure care routines at home, this shift led to increased sales of nail care kits, nail polish, nail tools and other related products. E-commerce and internet sales surged as a result of the closure of physical stores and restrictions on in-person buying. Due to the need to adapt to selling their goods and services online, nail care companies and salons now place a greater emphasis on creating and developing their online presence.

Key Players Landscape and Outlook

The Global Nail Care Market outlook remains positive for the decade going forward, with several factors driving the market such as emphasis on nail beauty among various individuals and age groups. Nail Care Market is expanding owing to both constantly increasing demand and supply of products, coming into the market with more innovations and creativity. Major players dominating the market are L’Oréal S.A., Coty Inc., Estée Lauder Companies Inc and others.

The influence of social media and growing e-commerce channels have become important aspect for brands to reach a larger audience and penetrate the market. New brands are emerging who are only focusing on nail care like Sally Hansen, Unglis.com, Olive & June. To thrive in this growing segment companies, need to focus on the extensive distribution network, product innovation, quality and invest in R&D and better marketing strategies.