Global Nail Polish Market Report and Forecast 2024-2032

Global Nail Polish Market Outlook

The global nail polish market size reached approximately USD 14.63 billion in 2023. The market is further projected to grow at a CAGR of 9.2% between 2024 and 2032, reaching a value of USD 32.31 billion by 2032.

Key Trends in the Market

Nail polish is a thick coloured or transparent liquid that is applied on toenails or fingernails to protect and decorate the nail plates. Nail polish contains a number of chemicals including solvents, film formers, resins, plasticisers, and pigments, among other ingredients.

• The development of nail polish robot is a key trend fuelling the market expansion as it is capable of painting and drying the nails within the specified time periods. Inclusion of  features such as nail polish strips and water-based nail polish in the machine is further contributing to the nail polish market growth as they allow easy formation of intricate and detailed patterns.

• Increasing emphasis on physical appearance along with the growing trend of matching outfits with accessories is boosting the product utilisation. Moreover, easy availability of nail polish across various distribution channels has resulted in an enhanced sale of the product, resulting in market growth.

• The demand for non-toxic, organic, vegan, and GMO free nail polish formulations is rising due to the growing awareness about the potential health risks associated with the regular usage of various chemicals present in nail polishes. This is encouraging various brands to invest in the development of chemical free, safer, and sustainable nail polishes.

Global Nail Polish Market Analysis

On the basis of product, the market is bifurcated into liquid and gel. Based on finish, the market is divided into glossy, matte, glitter, and satin, among others. By distribution channel, the market is classified into supermarkets and hypermarkets, multi branded retail stores, exclusive retail stores, and online, among others. On the basis of region, the nail polish market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Revlon Consumer Products LLC

• L'Oréal S.A.

• Chanel S.A.

• Christian Dior SE

• Coty Inc.

• Giorgio Armani S.p.A

• The Estée Lauder Companies

• Unilever plc

• Oriflame Cosmetics AG

• Sally Hansen, Inc.

• Cosnova GmbH

• Others

Market Share by Product

Liquid nail polish is anticipated to account for a significant nail polish market share as liquid nail paint can be easily applied at home without the need of any additional equipment. The easy application and removal allow individuals to change the colour and design frequently depending on the occasion.

Additionally, gel nail polish requires curing using LED lamps in order to harden and seal the polish onto the nails whereas liquid nail polish sticks by air drying alone.

Market Share by Region

The Asia Pacific held a significant market share over the historical period and is expected to continue to grow over the forecast period as well owing to the increasing working female population and growing interest of the regional population in nail care. Additionally, the increasing number of nail art salons and celebrity influence in countries such as South Korea and Japan is also bolstering the nail polish market demand in the Asia Pacific.

Moreover, the market in Europe is expected to observe a significant growth over the forecast period owing to the growing inclination of consumers towards naturally manufactured cosmetic and personal care products.

Competitive Landscape

L'Oréal S.A. was founded in 1909 and is headquartered in Paris, France. This cosmetics company is indulged in the development of skin care products, perfumes, hair colour, and sun protection products, among others.

Chanel S.A. is a luxury fashion house that was founded in 1910 and is headquartered in London, United Kingdom. The company specialises in women’s ready to wear, accessories, and luxury goods, among other products.

Christian Dior SE was established in 1946 and has its headquarters located in Paris, France. The multinational luxury fashion house is known for developing and selling wine and spirits, watches and jewellery, and clothing and leather goods, among others.

Other nail polish market players include Revlon Consumer Products LLC, Coty Inc., Giorgio Armani S.p.A, The Estée Lauder Companies, Unilever plc, Oriflame Cosmetics AG, Sally Hansen, Inc., and Cosnova GmbH, among others.

Key Highlights of the Report