Nail Polish Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Nail polish refers to a colored thick lacquer or enamel liquid applied to the nails of the fingers or toes to color the nails and make them shine. Nail polish is used to decorate and protect nails from becoming flaky, dry, or broken by creating a barrier over the top of the nail.

Sizing and Forecast
The nail polish market size has grown rapidly in recent years. It will grow from $12.9 billion in 2023 to $14.48 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%.  The growth in the historic period can be attributed to fashion and beauty trends, celebrity endorsements and influences, social and cultural influences, advertising and media influence, seasonal and occasional themes.

The nail polish market size is expected to see rapid growth in the next few years. It will grow to $22.47 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%.  The growth in the forecast period can be attributed to R&D investment, global market penetration, digital marketing strategies, sustainability and eco-friendly products, consumer preferences and trends. Major trends in the forecast period include retail and distribution strategies, vegan and cruelty-free demands, fashion and runway influence, personalization and customization, innovations in formulas and ingredients.

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Segmentation & Regional Insights
The mail polish market covered in this report is segmented –
1) By Product Type: Gel, Matte, Pearl, Other Products
2) By Distribution Channel: Supermarkets/Hypermarkets, Online Channels, Traditional Stores, Exclusive Beauty Specialist Stores, Other Channels
3) By End Use: Male, Female

North America was the largest region in the nail polish market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nail polish market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increasing working women population worldwide is expected to propel the growth of the nail polish market. Working women refer to a woman, who works outside the home for a living and earns a salary, wages, or other income through regular employment. Nail polishes help working women by giving them a vibrant and elegant look and perfection. For instance, according to the US Bureau of Labor Statistics, in the United States, women were nearly half (47.0%) of the labor force in 2021. Therefore, the increasing working women population worldwide is driving the growth of the nail polish market.

Key Industry Players
Major companies operating in the nail polish market report are L'Oreal India Pvt Ltd., Prestige Cosmetics Corp, The Estee Lauder Companies, Sephora USA Inc., Shiseido Co Ltd., Unilever India Exports Limited, Coty Inc., Sally Hansen Inc., Wella Operations US LLC, Revlon Inc., Kiko SpA, OPI Products Inc., Markwins Beauty Brands Inc., China Glaze Co Ltd., INGLOT SP. Z O.O., Butter London LLC, Orly International Inc., Colorbar Cosmetics Pvt Ltd., NARS Cosmetics Inc., Barry M Cosmetics Ltd., Deborah Lippmann collection LLC, Smith & Cult LLC, Kinetics Cosmetics Inc., Mavala International SA, Ella+Mila Inc., Ciaté London Ltd., Floss Gloss Ltd., Art of Beauty Company Inc., Jessica Cosmetics International Inc., JINsoon Hand & Foot Spa Inc.

The nail polish market report table of contents includes:
1. Executive Summary

2. Nail Polish Market Characteristics

3. Nail Polish Market Trends And Strategies

4. Nail Polish Market - Macro Economic Scenario

5. Global Nail Polish Market Size and Growth

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32. Global Nail Polish Market Competitive Benchmarking

33. Global Nail Polish Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Nail Polish Market

35. Nail Polish Market Future Outlook and Potential Analysis

36. Appendix

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