Press release
Nail Polish Market to Reach $26.68 Billion by 2030, Driven by Innovation
Nail Polish Market
The global nail polish market is experiencing significant growth, projected to expand from USD 14.13 billion in 2023 to nearly USD 26.68 billion by 2030, at a CAGR of 9.5%. This surge is fueled by increasing consumer interest in personal grooming, innovative product formulations, and the influence of social media trends.
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◆Competitive Landscape and Regional Demand
Key players in the nail polish market include L'Oréal Group, Revlon Consumer Products LLC, Coty, Inc., Unilever, Shiseido Co., Ltd., The Estée Lauder Companies, Inc., and OPI Products Inc. These companies are focusing on product innovation, strategic partnerships, and expanding their global presence to meet the evolving consumer preferences.
The Asia Pacific region dominated the market with a 38% share in 2023, driven by the rising number of working women and their increasing interest in nail care fashion trends. Countries like China, India, and Japan are significant contributors to this growth.
♦ Country-Specific Developments
Growth Opportunities in Vietnam
Vietnam's nail polish market is witnessing growth due to the increasing middle to elite income class and the popularity of manicures and nail art. The demand for vibrant colors and special effects is rising, reflecting the country's evolving beauty standards.
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Trend Growth in Thailand
Thailand is experiencing a surge in nail polish demand, attributed to the growing number of nail art salons and the influence of celebrity trends. The country's beauty industry is embracing innovative nail treatments and products to cater to consumer preferences.
Consolidation Trends in Japan
Japan's nail polish market is characterized by the popularity of "business nails" and manicure strips. The country's focus on innovative and high-quality cosmetic products has gained global recognition, contributing to the market's growth.
Updation in South Korea
South Korea continues to be a significant player in the nail polish market, known for its innovative and high-quality cosmetic products. The country's beauty industry is influenced by K-beauty trends, emphasizing well-groomed and aesthetically pleasing nails.
Market Growth in the United States
The United States nail polish market is growing at a CAGR of 5.9% from 2024 to 2034. Innovative nail treatments like hot oil manicures and the development of nail lacquers that offer distinctive treatments are contributing to this growth.
Consolidation Trends in China
China dominates the Asia Pacific nail polish market, with a revenue of USD 1.5 billion in 2024. The country's vast consumer base, increasing disposable income, and rapidly expanding beauty industry are driving the demand for premium nail products.
Updation in Europe
Europe held a market share of around 23% in 2024 and is expected to grow at a robust CAGR of 6.4% during the forecast period. Countries like France, the UK, Germany, and Italy lead the industry, with a high demand for premium and salon-quality nail products.
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◆ Nail Polish Market Segmentation
by Product
Liquid
Gel
by Sales Channel
Supermarkets
Hypermarket
Convenient Stores
Specialty Stores
Online or E-Commerce
by Finish
Glossy
Matte
Glitter
Satin
Others
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◆ Nail Polish Market Key Players
1. Revlon, Inc.
2. Essie Cosmetics, Ltd.
3. L'Oreal Paris
4. Odontorium Product Inc.
5. Creative Nail Design, Inc.
6. Fiabila Cosmetics Co., Ltd.
7. The Estee Lauder Companies, Inc.
8. NARS Cosmetics
9. China Glaze
10. Cosmetic Industries, Inc.
11. Sally Hansen, Inc.
12. RGB Cosmetics
13. Vogue Cosmetics
14. Procter & Gamble Co.
15. Coty, Inc.
16. American International Industries
17. Christian Dior SE
18. Chanel S.A.
19. Odontorium Products, Inc
20. Karma Organic Spa
21. Kester Black
22. Kosé Corporation
Key Recent Developments
In October 2024, Pacific World Corporation, a U.S.-based private equity firm, acquired Nails.INC, a UK-based company known for its nail polish products.
In September 2023, L'Oréal Groupe made a minority investment in Shinehigh Innovation, a China-based biotech company, to jointly develop novel and environmentally sustainable beauty solutions.
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