News-Details

Nail Polish Market Size, Share & Trends Analysis Report

By Product (Regular Nail Polish, Gel Nail Polish)

By Distribution Channel (Hypermarkets And Supermarkets, Specialty Stores, E-commerce),

By Region, And Segment Forecasts, 2023 - 2030

Overview

The global nail polish market size was valued at USD 15.2 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030. One of the primary factors driving market expansion is the growing interest in nail art and care products among consumers, especially millennials. Additionally, nail art & extensions are becoming an integral part of grooming among the millennials. This in turn is expected to boost the demand for the product during the forecast period. Furthermore, the introduction of nail polish with natural ingredients, which are non-toxic and have lesser chemical content is anticipated to bolster the demand for nail polish in the future.

Nail polish is used to decorate the nails of the toes or fingers. The easy availability of various brands, colors, and types in the market through various distribution channels including specialty stores, supermarkets, hypermarkets, and others has contributed to driving the growth of the nail polish market in terms of value sales. In addition to this rising number of working women population is likely to offer immense opportunities for the market growth during the forecast period.

Product Insights

The regular nail polish segment accounted for the highest market share of more than 45% in the global market in 2022. This is attributable to its easy application and availability of a wide range of colors in the market. The low price of regular nail polish over other available types has propelled its demand in the market contributing towards the overall market growth.

The gel nail polish segment is anticipated to expand at the fastest CAGR of 8.0% from 2023 to 2030. These products are more concentrated than regular nail polish. The easy availability of gel nail polish in the market along with its ability to provide a long-lasting glossy finish easily gets dry, has bolstered the market growth in terms of value sales.

Moreover, by product, the others segment includes dip powder, polygel, acrylic, and shellac nail polish. These types of nail polish are becoming trending among the consumers owing to the benefit offered by them. For instance, poly gel nail polish is long-lasting and can stay up to 21 days with maintenance.

Additionally, dip powder is one of the trending nail polishes which comes in powdered form. It can last up to 3 to 4 weeks. Thus, dip powder is more durable and long-lasting than any other nail polish which is gaining traction among consumers. However, the high price of dip powder products is likely to restrict the growth of the market in terms of value sales.

Distribution Channel Insights

The specialty stores made the largest contribution to the global market of over 36% in 2022. These stores have been focusing on offering natural and chemical-free categories set up to pique customer interest and offer them a facility to choose from numerous brands before making a purchase. Moreover, in specialty stores, consumers have the advantage of scanning types, shades & colors as per their choice. Additionally, the presence of store associates for helping customers to select the right product and provide product knowledge boosts the growth of the market through this segment.

Key Companies & Market Share Insights

The market includes both international and domestic participants. Key market players focus on strategies such as collaborations, innovation and new product launches in retails about natural products to enhance their portfolio offering in the market.

In June 2021, Estee Lauder Companies seed funded Faculty, a nail polish brand for males. The brand entered the market with vegan and cruelty-free nail polish formulas, moreover they were free of several commonly used chemicals usually used in nail polish formulations

In March 2023, Sally Hansen partnered with Peeps Brand, a marshmallow candy company to launch limited-edition collection of nail polishes. The Sally Hansen Insta-Dri X Peeps Collection features seven new shades with a sugar texture that resembles a sugar coated marshmallow treat

In Jan 2022, the beauty brand ‘Colorbar’ recently launched its vegan nail lacquer/nail polish with 128 shades in the market

Some of the key players in the nail polish market include:

Unilever

Estée Lauder

Shiseido

Revlon

Sally Hansen

Wella Operations US LLC (O.P.I.)

Cosnova GmbH (Essence)

NOTE Cosmetique

L'Oréal S.A.

Coty Inc.

From GRAND VIEW RESEARCH

Lencolo produce UV materials for about a decade and is able to supply raw materials for nail polish, we have cooperation experience in different nail polish gel application, including:

Nail polsih base coat

Nail polish top coat

Nail polish color coat

Nail polish builder gel

Welcome to contact us anytime if any enquiry, thank you in advance.