According to the report by Expert Market Research (EMR),According to a new report by Expert Market Research titled, “Global Nail Polish Market Size, Price, Share, Analysis, Report and Forecast 2023-2028″, the nail polish market reached a value of USD 13.4 billion in 2022. Aided by the rising demand for beauty and grooming products and the growing demand for non-toxic, organic, vegan, and GMO-free nail polish formulations, the market is projected to further grow at a CAGR of 9.20% between 2023 and 2028 to reach a value of USD 14.63 billion by 2028.
Nail polish is a lacquer applied to human fingernails or toenails to decorate or protect the nail plate. Besides aesthetic appeal, nail polish plays an integral role in protecting nails from external damage and preventing them from breaking or splitting. It is widely used in beauty salons, nail art studios, and home care regimes, offering a simple yet effective way to enhance one’s overall appearance.
The escalating consumer preference for beauty products is significantly fuelling the global nail polish market growth. With the growing consciousness about self-grooming and the desire to express personal style through fashion and beauty, there has been a considerable shift towards beauty products like nail polish. Moreover, the increasing trend of nail art has amplified the popularity of nail polish as it forms an essential ingredient in creating various intricate and stylish nail designs.
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The expanding applications of nail polish in beauty and fashion also play a significant role in nail polish market development. In the professional beauty industry, nail polish is used extensively in manicures and pedicures. Nail art studios utilise various types of nail polish, including base coats, coloured polish, and topcoats, to create stunning nail designs. The film industry also uses nail polish extensively to enhance the aesthetics of characters.
In addition to its primary role in beautification, nail polish has found applications in other areas. For instance, clear nail polish is often used as a quick-drying adhesive for minor repairs, and in certain cases, as a sealant to prevent materials from fraying or rusting.
Innovation in product formulation and packaging is another factor contributing to the nail polish market expansion. Manufacturers are investing in the development of new formulations, including gel and long-lasting nail polishes, which offer enhanced durability and shine. Companies are also focusing on creating eco-friendly and vegan nail polishes in response to the increasing consumer demand for sustainable and animal-free products.
Nail Polish Market Segmentation
The market can be divided based on product, finish, distribution channel, and region.
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Market Breakup by Product
Market Breakup by Finish
- Glossy
- Matte
- Glitter
- Satin
- Others
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Multi Branded Retail Stores
- Exclusive Retail Stores
- Online
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global nail polish companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Revlon Consumer Products LLC
- L’Oreal S.A.
- Chanel S.A.
- Christian Dior SE
- Coty Inc.
- Giorgio Armani S.p.A
- The Estee Lauder Companies
- Unilever plc
- Oriflame Cosmetics AG
- Sally Hansen, Inc.
- Cosnova GmbH
- Others
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