According to the latest report by Reports and Data, the global market size for nail polish sets was valued at USD 14.60 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 6.9% over the forecast period. The report attributes the expected growth to technological advancements in the nail polish manufacturing industry and increasing awareness about nail care and personal grooming among consumers.
Furthermore, the rising concern for the environment is driving demand for organic and vegan nail polish. Nail polish provides a protective coating to nails and prevents them from breaking or peeling, protecting them from damage caused by abrasive materials or unfavorable weather conditions. The growth of the nail polish sets market is also being fueled by high disposable income and the desire among consumers to spend on personal care and grooming.
The collaboration between influencers and beauty brands is also contributing to the growth of the market, particularly among millennials, as it successfully alters people's perceptions of nail care and personal grooming.
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Top Profiled Companies in the Global Nail Polish Sets Market Report:
Make-Up Art Cosmetics (MAC Cosmetics), Bobbi Brown Professional Cosmetics, Inc., Sephora USA, Inc., Tom Ford, Revlon, The Estée Lauder Companies Inc., Maybelline New York, Chanel, L’Oréal Groupe, and Nars Cosmetics.
Some Key Highlights From the Report
- The matte segment is expected to register a significant revenue growth rate over the forecast period. Matte nail lacquer provides nails with a sleek, modern look for individuals who keep up with the latest fashion trends. Deep matte hues are gaining traction in the market and are especially among corporate and working women who prefer elegant matte coats for everyday wear. The same amount of protection as a top coat is also available for men in matte nail finishes.
- Top coat segment registered the largest revenue share in 2021. The finished nail paint is often covered with a clear top coat. giving the nail polish a gloss-shiny appearance, they create a barrier surface that prevents it from flaking. It also hides minor nail flaws such as dents and lines that unintentionally form before manicure polish dries, and also helps to strengthen and harden the nails and helps lessen polish peeling by reducing the amount of water coming into direct contact with nail paints. UV-protective chemicals are typically used in top coats to protect your nail paint from daylight.
- Online stores segment is expected to register the fastest revenue CAGR over the forecast period owing to the availability of direct shipment from vendors thereby eliminating the need for additional warehousing expenses. Customers can select their preferred shipping, delivery, and payment methods options as well. Discount offers, doorstep service, and the availability of a diverse range of products are all factors that have contributed to the revenue growth of this segment. Overall, consumers buy cosmetics and beauty products online because of their distinct features and ease of access.
- Market in Asia Pacific accounted for the largest revenue share in the global nail polish sets market over the forecast period. The presence of key companies and the evolvement of startups, spending more on Research & Development (R&D), and launching new product lines are resulting in significant revenue growth in this region. The market in the Asia Pacific is expected to develop as a result of rising globalization, shifting consumer preferences, rising disposable income, an increasing working-class population, and increasing usage of social media platforms and digital applications. Various innovative initiatives by key players and startups by forming mergers and collaborations are also creating a major impact in this region.
Key Regional Markets Covered in the Report:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Further market segmentation
Type Outlook (Revenue, USD Billion; 2019-2030)
- Regular
- Matte
- Glitter
- Chrome
- French Manicure
- Breathable
- Five free
- Others
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Top Coat
- Base Coat
- Gel Coat
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Hypermarkets and Supermarkets
- Departmental Stores
- Beauty Salons
- Online stores
- Others
Key Takeaways of the Global Nail Polish Sets Market Report:
· A comprehensive overview of the global Nail Polish Sets industry.
· Accurate market projections in terms of market size, share, and volume.
· Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
· Deep-dive analysis of the upcoming market trends.
· Qualitative and quantitative analyses of the global Nail Polish Sets market.
· Elaborate study of the leading regional markets in the global Nail Polish Sets market.
· Complete overview of the market’s competitive landscape.
· Brief look at the company profiles and portfolios.
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