Nail Polish Market to Reach US$ 20.07 Bn by 2027 - Coherent Market Insights

Published On : Aug 08, 2019

The global nail polish market was valued at US$ 8.34 Bn in 2018, according to Global Nail Polish Market Report, by Product Type (Liquid and Gel), by End User (Female and Male), by Distribution Channel (Hypermarket & Supermarket, Specialty Stores, Convenience Stores, and Online Channels), and by Region (North America, South America, Asia Pacific, Europe, and Middle East & Africa) published by Coherent Market Insights.

The global nail polish market is projected to reach US$ 20.07 Bn by 2027, exhibiting a CAGR of 10.3% during the forecast period (2019-2027). Factors such as increasing number of nail salons coupled with rising number of working women population is contributing to the revenue for global nail polish market in the coming years.

Increasing number of working women population has resulted in increasing demand for nail polish products. Women working in the corporate sector are concerned about their appearance, which is expected to increase demand for nail polish products. According to data published by the World Bank, in 2016, the female labor force in Brazil was 42.9% of total labor force, which increased to 43.4% in 2018. According to the same source, the global female labor force was 38.93% in 2014, which increased to 39% in 2018.

Furthermore, growing demand for non-toxic or organic nail polish is likely to provide market players ample opportunities. Conventional nail polish products contain chemical that are harmful to human health. This has led to a shift in consumer preference towards organic or non-toxic nail polish. Increasing demand for organic/non-toxic nail polish is expected to drive the market growth. For instance, Suncoat Products Inc., a Canada-based cosmetic manufacturing company, offers water-based nail polish, which does not contain any hazardous chemicals.

However, rising health concerns associated with the use of harmful chemicals in manufacturing nail polish is projected to act as a major restraint in growth of global nail polish market in the
near future.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/nail-polish-market-2970

Browse 32 market data tables* and 20 figures* on "Nail Polish Market” - Global forecast to 2027.

Key Takeaways of the Market:

  • Based on product type, global nail polish market is segregated into liquid and gel, wherein liquid segment held the dominant position in global nail polish market in 2018. The availability and wide range of liquid nail polish is driving the segment growth. In 2018, Shiseido launched a new mini collection ‘SHISEIDO PICO’, in which the company launched Nail Enamel Pico. The new version of this nail polish will be released soon a limited edition in at around 280 stores in Japan.
  • Key players are adopting various business strategies such as product development and new product launches, in order to strengthen their foothold in the global nail polish market. For instance, in June 2017, Ciaté London launched first liquid mirror nail polish. With this new liquid nail polish, the company aimed to achieve chrome nail look without gel or powder.
  • Among regions, South America is expected to record fastest growth during 2019 to 2027. The significant growth in the cosmetic industry is driving the global nail polish market growth in the region. According to the International Trade Administration (ITA), U.S. Department of Commerce, in Brazil, cosmetic industry was valued at US$ 6.97 billion in 2016, which increased to US$ 7.11 billion in 2017.
  • Major players operating in the global nail polish market are Revlon, Inc., L'Oreal S.A., Fiabila SAS, NARS Cosmetics, Inc., Essie Cosmetics, Ltd., Coty, Inc., American International Industries, Christian Dior SE, and Chanel S.A.

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