Nail Polish Market to Reach USD 9.7 Billion by 2032, Growing at a CAGR of 6.5%

Written by Mahesh Chavan » Updated on: January 08th, 2025

The global nail polish market has experienced substantial growth over the past years, with a forecasted continued upward trend. In 2023, the market was valued at USD 5.5 billion and is projected to grow from USD 5.8 billion in 2024 to USD 9.7 billion by 2032, expanding at a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2024 to 2032. This robust growth can be attributed to various factors including increasing consumer awareness about personal grooming, the rise of DIY beauty trends, and continuous product innovation. The demand for nail polish is expected to continue rising, with consumers increasingly seeking products that offer not only vibrant colors but also long-lasting, health-conscious ingredients.

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Nail Polish Market Categorization

Based on the product, the global nail polish market is categorized into Regular, UV Gel, Dip Powder, Acrylic, Polygel, and Others.

The regular nail polish segment dominated in 2023. The advantages of using regular nail paint include its simple application process, affordable price, and the large variety of colors available. These factors are expected to drive the demand for regular nail polish in the foreseeable future. Companies like Coty Inc., Sally Hansen, and Essie Cosmetics, Ltd. provide regular nail paint with bio components to cater to the needs of environmentally aware consumers. For example, Coty Inc. provides a nail polish called "Kind & Free Plant-Based Nail Polish," which is made from plants. The product is composed of algae and does not contain any aroma, mineral oils, or components derived from animals.

1. By Product Type

Regular: Traditional nail polishes, typically applied with a brush, available in a variety of colors.

UV Gel: Popular in professional settings, UV gel polishes provide longer-lasting results and require a UV light for curing.

Dip Powder, Acrylic: These products have gained traction for their durability, especially in professional nail salons. Dip powders and acrylics are often used for creating intricate nail art designs.

Polygel: Polygel is a hybrid between acrylic and gel, providing durability and flexibility with a lightweight feel.

Others: This includes other emerging nail products that don’t fall into the categories above.

2. By Finish

Crème: A smooth and opaque finish.

Glossy: Shiny and lustrous, giving nails a sleek, polished look.

Chrome/Metallic: Offers a mirror-like shine with a reflective finish.

Matte: A non-shiny finish that is growing in popularity for its trendy look.

Glitter/Shimmer: Adds a sparkling effect to nails for a more festive appearance.

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Geographic Overview

North America: Dominated by the United States, the North American nail polish market is driven by innovation in product types, the popularity of DIY nail care, and strong demand for both luxury and drugstore brands.

Europe: Led by countries like the United Kingdom, France, and Germany, Europe is a significant market with an increasing inclination towards premium, organic, and cruelty-free nail polish products.

Top Players in the Nail Polish Market

L'Oreal Group

Revlon Consumer Products LLC

Nails Inc.

Coty, Inc.

Unilever

Estee Lauder Companies, Inc.

Shiseido Co., Ltd.

ZOYA Nail Polish (Art of Beauty Inc.)

Maybelline

OPI

Why Straits Research?

Straits Research is your trusted partner for insightful market research, offering actionable insights that enable you to make informed decisions in the ever-evolving nail polish market. Our comprehensive reports provide an in-depth analysis of market trends, growth drivers, and competitive landscapes, helping businesses of all sizes navigate the complexities of this dynamic industry. Whether you're a startup looking to enter the market or a seasoned player aiming to expand your product line, Straits Research equips you with the knowledge needed to stay ahead of the curve.

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