The fiery growth in sales of professional nail care products outshined resilient but modest growth rates in other cosmetics categories, posting over 25% increase globally in 2012. Compared to other beauty treatments, these services remain to be affordable indulgences driving greater consumer demand.
“Contrary to the waning performance of some other professional care segments, the limping economy is fueling industry growth by prompting consumers to enjoy and indulge in a little affordable luxury,” observes Agnieszka Saintemarie, Professional Nail Care: Global Market Brief project manager. “Moreover, fashion trends are favoring nails with nail-art fashion transforming women’s nails into stylish accessories, supported by an encouraging flood of innovative, fashion-forward nail-care products.”
The introduction of over 30 important new gel brands in the past two years, consequently raising gel products recognition, also has spurred the market excellence. However, in some countries such as Brazil, nail gels are not yet a popular trend as traditional nail polish is much more affordable. Gel products continue to grow at a stellar rate, posting nearly 30% growth in 2012.
At the regional level, all markets post double-digit growth in 2012, with Latin America leading the way with the highest increase of over 30% due to the increasing number of women in the workplace, the steady launches of new products, and many cultural factors outlined in the report. Developed markets, such as the United States, the United Kingdom, and Germany, are highly driving the market.
Currently, recent product innovations allow the nail artists to harness cutting edge technology thereby decreasing the service times to be cost competitive. With this in mind, marketers focus on covering as wide a product portfolio as possible so salons do not have to take on additional brands.
Kline’s just published Professional Nail Care: Global Market Brief closely examines these key trends, latest products, and emerging technologies triggering growth on the professional nail care scene. The findings reveal that the professional nail care products market will continue to grow although at the slower rate. However, nail salons must stay current with the latest trends and technologies to remain competitive.
To learn more about professional nail care market REGISTER for a free webinar in January 22, 2013, at 9:00 AM US EDT.