Nail polish is a varnish used to decorate the nails of the fingers or toes, also called “nail lacquer” and “nail varnish”. It is mainly composed of 70%-80% of volatile solvent, small amounts of solvent oil, about 15% of nitrocellulose, titanium dioxide, camphor, and oil-soluble pigments. It is used for the protection of nail plates. It is commonly available in multiple colors.
According to study, “World Nail Polish Market Research Report 2024(covering USA, EU, China, South East Asia, Japan and etc)” the key companies operating in the world nail polish market are Loreal Paris, Cosmetic Industries, The Face Shop Co., Ltd., Skinfood, LVMH, Creative Nail Design, Inc. (CND), Revlon Inc., Za-cosmetics, Sally Hansen, Bobby Brown Professional Cosmetics Inc., Missha, UNT, Chanel, M.A.C. Cosmetics, Maybelline, Butter LONDON LLC, Dior, Anna Sui, ORLY International, Inc., OPI, Ming Shi, Miha, Essie Cosmetics, Ltd.,, Odontorium Product Inc., Fiabila Cosmetics Co., Ltd., NARS Cosmetics, China Glaze, The Estee Lauder Companies, Inc., Cosmetic Industries, Inc., RGB Cosmetics, Sally Hansen, Inc., Vogue Cosmetics, Coty Inc., Procter & Gamble Co. Key Manufacturers are facing intense competition and often use price or quality characteristics to position their brands. In order to maintain their position in the market, companies are also offering free shipping & discounts on nail polish products to customers.
Based on product type, nail polish market is segmented into gel and liquid (base coat & top coat). Liquid polish holds major share in market owing to easy application & availability of a wide range of colors. Gel polish segment is expected to witness higher growth rate due to its ability to provide a long lasting glossy finish during the forecast period. Based on distribution channel, market is segmented into offline distribution channel and online distribution channel. Offline distribution channel segment is further sub-segmented into independent retailers, large retail store formats, and specialty stores. Based on application, market is segmented into nail art, nail care and others. In addition, based on end-use, market is segmented into nail salons or nail bars, individuals, and other beauty parlors.
The nail polish market is driven by rise in innovation & advancements in nail polish industry, followed by increase in awareness about grooming among women, growth in color cosmetics demand, change in lifestyle & rise in consumer disposable income, increase in acceptance of nail care fashion trends, rise in availability of non-toxic solutions, increase in brand consciousness, endorsement for nail polish by celebrities, growth in purchases by the teenage population and increase in working women population. However, stringent government regulations and health concerns about the harmful chemicals may impact the market. Moreover, rise in penetration of e-commerce businesses for new product development and increase in demand for organic & natural nail polish are key opportunities for market.
Based on geography, the China and Japan countries hold major share, followed by USA and EU in nail polish market owing to rise in number of spas & salons in countries. The USA country is expected to witness higher growth rate due to introduction of unique finishes for instance glitter, sequins, magnetic, and metallic over the forecast period. It is anticipated that future of the market will be bright on account of growth in number of mobile-based apps of fashion trends during the forecast period.
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Ankur Gupta, Head Marketing & Communications