Nail Polish Market Report by Straits Research
The global nail polish market is experiencing significant growth, driven by increasing consumer interest in personal grooming and beauty products. In 2023, the market was valued at USD 5.5 billion and is projected to grow from USD 5.8 billion in 2024 to USD 9.7 billion by 2032, at a compound annual growth rate (CAGR) of 6.5% during the forecast period (2024–2032). This growth is attributed to the rising popularity of nail art, the introduction of innovative nail products, and the expansion of distribution channels.
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Market Categorization
By Product Type:
1.Regular: Traditional nail polishes that are easy to apply and remove.
2.UV Gel: Long-lasting polishes that require curing under UV light.
3.Dip Powder, Acrylic: Durable and chip-resistant options.
4.Polygel: A hybrid of acrylic and gel, offering flexibility and strength.
5.Others: Includes various niche products catering to specific consumer needs.
By Finish:
1.Crème: Smooth and creamy texture.
2.Glossy: High-shine finish.
3.Chrome/Metallic: Reflective and metallic look.
4.Matte: Non-shiny, flat finish.
5.Glitter/Shimmer: Sparkling and shimmering effect.
6.Holographic: Multi-dimensional, rainbow-like finish.
7.Neon: Bright and vibrant colors.
8.Pearl: Subtle, pearlescent sheen.
9.Foil: Metallic foil-like appearance.
10.Magnetic: Unique patterns created using a magnet.
11.Dip Powder: Powder-based application for a durable finish.
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Geographic Overview
1.North America: The United States leads the market with a high demand for premium and innovative nail products. The trend of DIY nail art and the presence of major market players contribute to the region’s growth.
2.Europe: The United Kingdom, France, and Germany are key markets, driven by fashion trends and a strong beauty culture. The rise of eco-friendly and vegan nail polishes is notable in this region.
3.Asia-Pacific: China and Japan dominate the market, with a growing middle-class population and increasing disposable income. The influence of K-beauty and J-beauty trends also boosts market growth.
4.Latin America: Brazil and Mexico are significant markets, with a high demand for vibrant and long-lasting nail polishes. The popularity of nail salons and beauty services drives the market in this region.
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Top Players in the Nail Polish Market
• L’Oreal Group
• Revlon Consumer Products LLC
• Nails Inc.
• Coty, Inc.
• Unilever
• Estee Lauder Companies, Inc.
• Shiseido Co., Ltd.
• ZOYA Nail Polish (Art of Beauty Inc.)
• Maybelline
• OPI
• Dior
• CHANEL
• ORLY
• Butter London
• Kiko Milano
• Revlon
• China Glaze
Why Straits Research?
Straits Research is a trusted name in market research, providing comprehensive and accurate insights into various industries. Our reports are based on extensive research and analysis, offering valuable information to help businesses make informed decisions. With a focus on quality and reliability, Straits Research is committed to delivering actionable insights that drive growth and success.
In conclusion, the nail polish market is poised for substantial growth, driven by innovation, consumer trends, and expanding distribution channels. Businesses and startups can capitalize on this growth by understanding market dynamics, investing in product development, and adopting sustainable practices. With the right strategies, the nail polish market offers significant opportunities for success.
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