Press release
Nail Polish Market Anticipated To Witness Robust Growth, Surpassing $25.35 Billion By 2029
Nail Polish
How Big Is the Nail Polish Market Size Expected to Be by 2034?
In recent times, the nail polish market has seen swift expansion. Forecasts predict the size will escalate from $14.39 billion in 2024 to $16.12 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 12.0%. The notable growth during the historic period is believed to be the impact of factors such as evolving fashion and beauty trends, celebrity endorsements and influences, socio-cultural trends, the role of advertising and the media, in addition to seasonal and event-based themes.
In the impending years, the nail polish market is projected to witness a brisk rise in its size. The market is anticipated to escalate to $25.35 billion in 2029, with a 12.0% compound annual growth rate (CAGR). This advancement over the forecasted timeframe is due to several elements such as investments in research & development, global market access, the employment of digital marketing tactics, sustainable and eco-friendly products, and customer inclinations and trends. Key trends projected in this period encompass retail and distribution strategies, call for vegan and cruelty-free products, the impact of fashion and runway, bespoke personalization and customization, and breakthroughs in formulas and ingredients.
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What Are the Emerging Segments Within the Nail Polish Market?
The nail polish market covered in this report is segmented -
1) By Product Type: Gel, Matte, Pearl, Other Products
2) By Distribution Channel: Super markets/Hyper markets, Online Channels, Traditional Stores, Exclusive Beauty Specialist Stores, Other Channels
3) By End Use: Male, Female
Subsegments:
1) By Gel: UV Gel Polish, LED Gel Polish, Soak-Off Gel Polish
2) By Matte: Matte Finish Nail Polish, Matte Top Coat
3) By Pearl: Pearl Finish Nail Polish, Shimmering Pearl Nail Polish
4) By Other Products: Glitter Nail Polish, Neon Nail Polish, Specialty Nail Polish
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What Long-Term Drivers Are Shaping Nail Polish Market Trends?
The escalating number of women in the workforce globally is predicted to fuel the expansion of the nail polish industry. The term 'working women' is given to females who are employed away from home and earn a regular income, wages, or other earnings from their jobs. Nail polishes grant working women a radiant and sophisticated appearance and finesse. For example, data from the US Bureau of Labor Statistics shows that women accounted for 46.8% of the U.S labor force in 2022, consistently comprising a significant section of the working populace. Consequently, this growth in the working women population globally is propelling the development of the nail polish market.
Who Are the Top Competitors in Key Nail Polish Market Segments?
Major companies operating in the nail polish market include L'Oreal India Pvt Ltd., Prestige Cosmetics Corp, The Estee Lauder Companies, Sephora USA Inc., Shiseido Co Ltd., Coty Inc., Sally Hansen Inc., 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.
What Nail Polish Market Trends Are Gaining Traction Across Different Segments?
Breathable technologies are emerging as a significant trend in the nail polish industry. Major players in this market are innovating with breathable technologies to consolidate their market positioning. In March 2022, Orly, a nail care brand from the UK, introduced "Island Hopping," a line of breathable nail polish ideal for the summer. Its products are vegan, cruelty-free, and halal approved. This collection offers six unique holiday-inspired hues and is the first professional nail polish that combines treatment and color, incorporating a brush with 600 bristles to provide a permeable formula. This type of one-step manicure employs cutting-edge oxygen technology to regulate nail hydration, supporting nail growth and prolonging durability.
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Which Regions Are Becoming Hubs for Nail Polish Market Innovation?
North America was the largest region in the nail polish market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Nail Polish Market?
2. What is the CAGR expected in the Nail Polish Market?
3. What Are the Key Innovations Transforming the Nail Polish Industry?
4. Which Region Is Leading the Nail Polish Market?
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