The AI-powered Manicure Market is projected to reach a value of $17.07 billion by 2030

According to the report published by Virtue Market Research, the Global AI-powered Manicure Market was valued at $11 billion in 2022 and is projected to reach a market capitalization of $ 17.07 billion by 2030. Over the forecast period of 2023-2030, the market is estimated to grow at a CAGR of 5.65% due to the large-scale integration of AI-based technologies in almost all the application sectors. AI is gaining traction in almost every field nowadays, including the manicure section.

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AI-powered manicure device uses artificial intelligence which produces an environment through which people get to choose whatever is painted on their nails. They pick a nail paint color and place the polish cartridge into the clockwork robot. The computer system then captures snapshots of the user's hand with built-in 3D cameras to create a multi-dimensional map. The AI technology in the computing device then uses the map to put the nail polish in place. The increasing popularity of interactive try-on facilities is increasing sales in recent times. This may help create lucrative opportunities in the future of contactless try-on services in the manicure sector with the help of AI technology.

COVID-19 has affected the nail care industry, especially shops and offline stores. However, online income has not been affected as such. Thus, at the time of global lockdowns services used at home were chosen over salon services via customers. Additionally, to get an edge over this, most businesses are taking the help of innovation and AI to automate the whole process and increase the performance-efficiency. Beauty enterprises, especially nail salons have historically been a job-supplying hub for undocumented workers. However, with economies opening up and resuming trade and economic activities, the spending on these products and services is anticipated to increase, fueling the demand for automation solutions and services over the upcoming years. Robots are getting trained at doing more work - even physical tasks, like manicures. Though, they don't intend to push employees or eliminate manual jobs. They are anticipated to work alongside the manual workforce. AI technology is now being deployed to online try-on experiences so that customers can see what their nails will look like with special shades for the duration of a digital manicure. Due to advanced hand mapping technology and the AI-powered AR Virtual Try-On nail solution customers can decide for themselves the shade of nail paint, design, or any other print that they want on them, augmenting the global market size during the forecast period.

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Segmentation Analysis:   

The global AI-powered Manicure Market segmentation includes:   

By Product Type:
• Regular Nail Polish
• Gel Nail Polish
• Others.

According to the product type, the regular nail polish segment accounted for the highest market share of the total revenue generated in 2022. This can be attributed to the easy utility process and availability of an extensive range of shades. The gel nail polish segment is estimated to expand at the fastest CAGR from 2023 to 2028. These products are slightly on the premium end than ordinary nail polish. The easy availability of these gel nail polishes in the market, along with their ability to withstand long-lasting sleek finish has escalated their demand in recent years. The other section includes other products such as dip powder, poly-gel, acrylic, and shellac nail polish. These types of nail polish are setting a trend among buyers due to the longevity they provide.

By Distribution Channel:
• Hypermarkets & Supermarkets
• Specialty Stores
• E-Commerce
• Others.

According to the distribution channel, specialty stores contributed largely to the global market share in 2022. The specialty stores have been aiming at presenting herbal and chemical-free product set-ups to attract customers and provide them with a facility to choose and pick out from several brands available at the outlet. Additionally, hypermarkets and supermarkets are also gaining excessive popularity, due to the availability of a vast range of products under a single roof. Supermarkets and hypermarkets are generally planned and laid over a large area and provide a variety of product choices. Moreover, these stores are usually opened close to residential areas for easy accessibility of products. Additionally, the rising net penetration and target advertising to reach all targeted customer touchpoints are estimated to drive segment growth. Besides, the easy accessibility and heavy coupon offers and discounts provided via online distribution channel modes may improve the adoption of nail polish in the market through the means.

Regional Analysis:  

Asia Pacific is anticipated to hold the highest market share of the global AI-powered manicure market in 2022. It is also likely to be the fastest-growing regional market in the course of the outlook period owing to the growing number of working women population in countries such as China and India and their increasing disposable income in spending on nail care trends. Moreover, the increasing young-age population, especially in India is anticipated to offer lucrative possibilities for a boom in market sales. Europe is also anticipated to witness a remarkable CAGR from 2023 to 2028. The tendency of shoppers toward naturally manufactured products is likely to fuel the demand, particularly in economies like UK and Germany. Furthermore, consumers in countries such as U.S. and Canada are ready to pay a hefty amount for a greater attractive appearance. This, in turn, is increasing the size of the market in the North American region. The Middle East market is predicted to be the second-fastest-growing regional market during the forecast period. This is due to the increasing number of affluent consumers in countries like South Africa, the UAE, and others.

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Latest Industry Developments:   

• In April 2021, Preemadonna, a USA-based start-up introduced its flagship product, NailBotas. It is a nail paint device that prints any photo, emoji, image, or self-created design in the customer's nail within five seconds.
• In April 2021, Revlon announced the acquisition of the Elizabeth Arden Company and all the brands under its portfolio, including its leading designer, heritage, and fragrances. The acquisition created the company a strong portfolio of leading brands globally.

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Virtue Market Research is a strategic management firm helping companies to tackle most of their strategic issues and make informed decisions for their future growth. We offer syndicated reports and consulting services. Our reports are designed to provide insights on the constant flux in the global demand-supply gap of markets.

This release was published on openPR.