Nail Polish Market worth USD 11770 million by 2021

Nail Polish Market Analysis Size, Growth rate and Overview:

Nail Polish Market was valued at USD 9420 million in 2017 and is expected to reach almost USD 11770 million by the end of 2021, growing at a CAGR of around 4.65% over the predicted period.

Nail polish is generally available in multiple colours and is an easy to apply product. Nail products including enamel/varnish/lacquer is expected to be the fastest growing colour cosmetics segment on account of the development of various innovative textures and effects. The growing popularity of nail designs amongst young population is likely to fuel the demand. The consumption of nail polish is highly driven by changing behavioural patterns and changing lifestyles. This has led to nail art and extensions becoming an important component of grooming among the millennials. The demand is likely to grow rapidly over the forecast period owing to the introduction of nail paints with natural contents and reduced chemical content nail paints.

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Nail Polish Market Key Drivers, Challenges, and Opportunities:

The nail polishes which are made of organic ingredients are the major demand factor driving the nail polish market growth.  Emphasis on beauty care and use of multi-color nail polishes among the consumers has been impacting positive demand on the growth of this market. Growing awareness about various beauty trends and rising brand consciousness among women population is also expected to further augment this market demand. Rise in the number of people visiting salons and nail art studios is expected to have a positive impact on the demand.The market can be categorized into liquid nail polish and gel nail polish with the Gel polish accounting for a share of 10.1% in 2015 and is further expected to witness considerable growth.

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Nail Polish Market – Regional Presence:

Geographically, the market is spread across North America, Europe, Asia Pacific, Central & South America, and Middle East and Africa. The consumption of liquid nail polish is high in Europe,owing to the presence of fashion capitals such as Paris, London, and Milan. In Latin America, long and polished nails have become a huge trend among young girls, with Brazil being the biggest consumer attributed to the thriving fashion industry. Asia Pacific is the secondfastest growing region with a CAGR of 10.2% from 2016 to 2024 because of the presence of a large number of youth populace.

Some of the Key Players Profiled in this Nail Polish Market Report are:

Some of the key industry participants are Odontorium Products Inc., L’Oréal Paris, China Glaze, Revlon, Essie and Sally Hansen.

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