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Nail Polish Market Growth, Trends, Major Drivers And Forecast 2033
Nail Polish Market Growth
Nail Polish Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $22.47 billion In 2028 At A CAGR Of 11.6% :
The nail polish market size has grown rapidly in recent years. It will grow from $12.9 billion in 2023 to $14.48 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to fashion and beauty trends, celebrity endorsements and influences, social and cultural influences, advertising and media influence, seasonal and occasional themes.
The nail polish market size is expected to see rapid growth in the next few years. It will grow to $22.47 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to R&D investment, global market penetration, digital marketing strategies, sustainability and eco-friendly products, consumer preferences and trends. Major trends in the forecast period include retail and distribution strategies, vegan and cruelty-free demands, fashion and runway influence, personalization and customization, innovations in formulas and ingredients.
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Nail Polish Market Major Segments
The mail polish market covered in this report is segmented -
1) By Product Type: Gel, Matte, Pearl, Other Products
2) By Distribution Channel: Supermarkets/Hypermarkets, Online Channels, Traditional Stores, Exclusive Beauty Specialist Stores, Other Channels
3) By End Use: Male, Female
Key Driver - Surge In Working Women Population Fuels Growth In The Nail Polish Market
The increasing working women population worldwide is expected to propel the growth of the nail polish market. Working women refer to a woman, who works outside the home for a living and earns a salary, wages, or other income through regular employment. Nail polishes help working women by giving them a vibrant and elegant look and perfection. For instance, according to the US Bureau of Labor Statistics, in the United States, women were nearly half (47.0%) of the labor force in 2021. Therefore, the increasing working women population worldwide is driving the growth of the nail polish market.
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Prominent Trend - Technological Advancements Driving Innovation In The Nail Polish Market
Breathable technologies are a key trend in the nail polish market. Major companies operating in nail polish are developing products with breathable technologies to strengthen their position in the market. In March 2022, Orly, a UK-based nail care brand, released """"Island Hopping"""", a summer breathable line of nail polish. It is vegan, cruelty-free, and halal-certified. The collection features six distinctive vacation colors and is the first professional treatment and color nail polish to use a brush with 600 bristles to create a formula that is permeable. The 1-step manicure uses modern oxygen technology to maintain hydration balance in the nails, encouraging nail development and extending wear.
Nail Polish Market Players
Major companies operating in the nail polish market report are L'Oreal India Pvt Ltd., Prestige Cosmetics Corp, The Estee Lauder Companies, Sephora USA Inc., Shiseido Co Ltd., Unilever India Exports Limited, Coty Inc., Sally Hansen Inc., Wella Operations US LLC, Revlon Inc., Kiko SpA, OPI Products Inc., Markwins Beauty Brands Inc., China Glaze Co Ltd., INGLOT SP. Z O.O., Butter London LLC, Orly International Inc., Colorbar Cosmetics Pvt Ltd., NARS Cosmetics Inc., Barry M Cosmetics Ltd., Deborah Lippmann collection LLC, Smith & Cult LLC, Kinetics Cosmetics Inc., Mavala International SA, Ella+Mila Inc., Ciaté London Ltd., Floss Gloss Ltd., Art of Beauty Company Inc., Jessica Cosmetics International Inc., JINsoon Hand & Foot Spa Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the nail polish market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nail polish market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Nail Polish Market Report Structure
3. Nail Polish Market Trends And Strategies
4. Nail Polish Market - Macro Economic Scenario
5. Nail Polish Market Size And Growth
…..
27. Nail Polish Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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