Technavio’s market research analyst predicts the global nail care market to reach a market value of around USD 9 billion by the end of 2019. The rising demand for nail polish among the younger population is one of the primary drivers of the market. Around 91% of girls between the age of nine and seventeen use some form of nail products, making it one of the most popular cosmetic item among teenage girls. Fashion trend such as nail art is also transforming a nail into a stylish accessory.
The side effects of the chemicals incorporated in the nail care products are expected to pose challenges for the growth of the market. For instance, formaldehyde resin causes dermatitis. Camphor, another chemical used in nail care products can cause nausea, dizziness, and headaches when inhaled, especially in large doses for nail technicians
Product segmentation and analysis of the nail care market
•Nail polish
•Nail accessories
•Nail treatments
•Artificial nails/accessories
•Nail polish removers
Nail polish is the largest segment of the market. India and China are predicted to be the emerging regions for the nail polish market. Manufacturers are experimenting with new formulations and adding chemicals compounds to develop products in the nail polish segment. For instance, the Tranzitions Nail Lacquer with Hardeners by China Glaze starts with one colour, but changes to a second shade when a topcoat is applied giving the consumers an entirely new look with just one swipe.
