by The global nail care market caters to various nail care products like nail polishes, nail strengtheners, nail polish removal products, and nail art supplies. These nail care products enhance the aesthetics of nails and help strengthen and nourish nails. The increasing focus on personal grooming and overall appearance has boosted the demand for such nail care products among consumers.
The global Nail Care Market is estimated to be valued at US$ 21.08 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: One of the key trends propelling the growth of the global nail care market is the growing focus on beauty and grooming. Consumers today pay close attention to their personal appearance and hygiene. Nails are considered an important part of one’s overall look and style. Therefore, the demand for high quality nail care products that can polish, paint, protect and beautify nails has increased significantly. Manufacturers are innovating and launching nail products in diverse colors, designs and formulations to cater to the evolving demands of customers. The nail care market players are also focusing on sustainable and eco-friendly nail care product ranges to boost their sales.
SWOT Analysis
Strength: The nail care market benefits from rising disposable incomes and growing beauty consciousness among consumers. Growing population and urbanization are also driving market growth.
Weakness: High capital requirements for setting up manufacturing facilities pose challenges for new entrants. Seasonality also affects demand for certain nail care products.
Opportunity: Rising social media influence and online retail are presenting new opportunities. Innovation in nail art techniques and product formulations are expanding market scope.
Threats: Stiff competition from local and private label brands pressures large brands. Economic slowdowns could potentially impact discretionary spending on beauty and cosmetics.
Key Takeaways
Global Nail Care Market Size is expected to witness high growth over the forecast period.
Regional analysis comprises: The Asia Pacific region dominates the global nail care market currently. The region enjoys higher disposable incomes, rapid urbanization, and social media influence driving beauty and cosmetics spending, especially in emerging countries like China and India.
Key players operating in the nail care market are Metro AG, Kroger Company, Carrefour SA, Tesco PLC, Wal-Mart Stores, Inc., Costco Wholesale Corporation, Unilever PLC, Amway, Reckitt Benckiser Group plc, Pepsi Co, Inc., Procter & Gamble, L€TMOreal Group, Nestle S.A., IBM Corporation, Accenture plc, Atos SE, Hewlett €“ Packard Company, PTC, Inc., Centric Software, Dassault Systemes S.A., Autodesk, Inc., Gerber Scientific, Inc., SAP SE, and Oracle Corporation.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
