A new research report published by Transparency Market Research anticipates that the global nail care market will reach a value of US$ 20,940.2 Mn by 2027, expanding at a CAGR of 8.4% from 2019 to 2027. The market is expected to reach 1,494.2 Mn units by 2027, in terms of volume. From a geographical perspective, Asia Pacific held majority of share of the global market in 2018. The market in the region is projected to expand at a rapid pace during the forecast period, the report anticipates.
As per the TMR analyst, the global nail care market is growing significantly, in terms of size and value, owing to the expansion of the e-commerce retail market, which is subsequently driving the nail care market in the region. This trend is expected to be continued during the forecast period. Growing population of working women and changing male preference toward nail treatment is a major factor driving the global nail care market. Additionally, popularity of gel polish has increased in both salons and homes. In particular, gel polish that does not require the use of an LED light is boosting the at-home gel market. Over 10% of women who do their own nails report using gel polish without an LED light, as compared to just 7% of those who use gel polish that requires an LED light. The report states that these are major factors that will drive the nail care market during the forecast period.
The TMR report has segmented the nail care market in terms of product type, into nail color (liquid nail color, gel nail color, base coat & top coat, and others (acrylic nail color, shellac nail color, etc.) and nail treatment (manicure and pedicure). Among these, the nail color segment accounted for a leading share of the global nail care market in 2018. However, the nail treatment segment is projected to expand at a significant growth rate in the near future, as several nail brands are expanding from polish to the development of treatment products for the feet and hands. The nail color segment includes liquid nail color, gel nail color, base coat and top coat nail color sub-segments. Under nail color segment, liquid nail color hold the majority of market share while the gel nail color sub-segment is projected to expand at a rapid pace during the forecast period. This is due to continuous launch of new products that contain natural ingredients. These factors are expected to drive the nail care market during the forecast period.
As per the report, the packaged segment accounted for a major share of the market in terms of sales type, and expanded at a rapid pace, in 2018. It is projected to maintain its dominant position during the forecast period, as consumers are moving from nail salon to at-home care options. Earlier, premium brands used to be available only at a nail salon. However, the availability of premium brands at home boosts packaged sales in the premium nail polish market. Some of the major companies operating in the global nail care market are profiled in this report to give a better competitive analysis of the market and these include American International Industries, Barielle Ltd., California Chemical Specialties, ChromaDurlin (NV Organics), CNC International B.V., OPI Products, Inc., Creative Nail Design, Inc., Delia Cosmetics, Fiabila S.A., IL Cosmetics Group, Kirker Enterprises, Inc., and Polychromatic (Keystone Research & Pharmaceutical Inc.).
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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