Nail Polish Market: Global Industry Analysis and Forecast (2023-2029) by Product, Sales Channel and Region

Nail Polish Market size was valued at US$ 12.91 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 9.5% through 2023 to 2029, reaching nearly US$ 24.36 Bn.
Nail Polish Market Overview:
The Global Nail Polish market was valued at US $12.91 Bn. in 2022, and it is expected to reach US $24.36 Bn. by 2029 with a CAGR of 9.5% during the forecast period. Revlon, Inc. is an American multinational company that offers cosmetics, skin care, fragrance, and personal care products. Revlon, Inc. had a net sales revenue of US$ 1.9 Billion in 2020.



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Dynamics:
The global nail polish market size is estimated at high CAGR and the demand is estimated to grow rapidly due to increased purchases by the teenage population who prefer designer nails. Due to a rise in the number of people visiting salons and nail art studios is expected to rise the demand for nail polish.

The development of innovative textures and effects of nail products including enamel, varnish, and lacquer is expected to be the firmest increasing color cosmetics segment. Nail care services are increasing rapidly due to the well services provide by professional salons. The demand for liquid enamel is expected to grow at a stable step due to behavioural attributes such as changing designs frequently and rising beauty awareness.

The major driving factor of nail polish market is raising awareness about grooming among women, acceptance of nail care fashion trends, endorsement for nail polish by celebrities, growth in the female population and rise in nail care fashion trends have fuelled the demand for nail polish. However, a major restraint of the global nail polish market is health concerns about the harmful chemicals used for manufacturing nail polish that may lead to digestive problems. Nevertheless, some significant opportunities for the nail polish market are the rise in demand for organic and natural nail polish and penetration of e-commerce businesses for new product development.
Segment Analysis:
The Global Nail Polish Market is segmented by Product, and Sales Channel.

Based on the Product, the market is segmented into liquid, and gel. Liquid polish segment is expected to hold the largest market share of xx% by 2029. The ease of application and availability of colors are driving demand. Due to consumer reluctance to switch to gel-based replacements, liquid products are expected to account for the largest market share during the forecast period.

The ease of application and low cost, combined with the manufacturer’s vast colors variety, are expected to drive demand during the forecast period. Furthermore, the growing fashion and cosmetics industry, driven by rising consumer demand for beauty items, is expected to be a major driver of market growth in the forecast period. These are the factor that drives the growth of the Liquid polish segment in the global market during the forecast period.

Based on the Sales Channel, the market is segmented into Supermarkets, Hypermarket, Convenient Stores, Specialty Stores, and Online or E-Commerce. Online or E-Commerce segment is expected to grow rapidly at a CAGR of xx% during the forecast period. Online or E-Commerce has become an integral aspect of the global retail landscape in recent years. The retail sector, like many other industries, has changed dramatically since the internet’s advent, and due to the ongoing digitalization of modern life, consumers from practically every country now benefit from the convenience of online purchases. These are the key factor that drives the growth of the online or e-commerce segment in the global market during the forecast period.


Regional Insights:
North America dominates the global Nail Polish market during the forecast period 2023-2029. North America is expected to hold the largest market shares of xx% by 2029. An increasing fashion industry in Latin America is answerable for rising demand for nail polish. Rising population along with changing lifestyles is the major factor that boost the growth for nail polish in North America. These are the key factor that drives the growth of North America region in the global market during the forecast period 2023-2029.

Asia Pacific is expected to grow rapidly at a CAGR of xx% during the forecast period. An increasing demand for nail polish in emerging countries like China, India, Indonesia, and Thailand in the region is the major factor that boost the growth of Asia Pacific region in the global market during the forecast period 2022-2029.

The objective of the report is to present a comprehensive analysis of the Global Nail Polish Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also helps in understanding the Global Nail Polish Market dynamic, structure by analyzing the market segments and project the Global Nail Polish Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Nail Polish Market make the report investor’s guide.
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Global Nail Polish Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 12.91 Bn.


Forecast Period 2023 to 2029 CAGR:
9.5%
Market Size in 2029:
US $ 24.36 Bn.


 Segments Covered:
by Product
Liquid
Gel


by Sales Channel
Supermarkets
Hypermarket
Convenient Stores
Specialty Stores
Online or E-Commerce


by Finish
Glossy
Matte
Glitter
Satin
Others



Nail Polish Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
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
Frequently Asked Questions:
1] What segments are covered in Nail Polish Market report?
Ans. The segments covered in Nail Polish Market report are based on Product, and Sales Channel.

2] Which region is expected to hold the highest share in the Global Nail Polish Market?
Ans. North America is expected to hold the highest share in the Global Nail Polish Market.

3] Who are the top key players in the Global Nail Polish Market?
Ans. Revlon, Inc., Essie Cosmetics, Ltd., L’Oreal Paris, Odontorium Product Inc., and Creative Nail Design, Inc. are the top key players in the Global Nail Polish Market.

4] Which segment held the largest market share of Global Nail Polish market in 2022?
Ans. Liquid polish segment held the largest market share in 2022.

5] What is the market size of the Global Nail Polish market by 2029?
Ans. The market size of the Global Nail Polish market is US $ 24.36 Bn. by 2029.

6] What was the market size of the Global Nail Polish market in 2022?
Ans. The market size of the Global Nail Polish market was worth US $ 12.91 Bn. in 2022.