Global sales of nail care products have outpaced other beauty care segments for the past few years. Contrary to the performance of professional care segments such as skin and hair care, salon nail care brands are estimated to post double-digit growth in 2012 according to Kline’s preliminary findings and are forecast to grow further in the next five years although at a less aggressive rate, despite posting sturdy yet relatively sleepy growth rates in matured markets in 2011.
Globally, professional nail salons are experiencing a boom, as an increasing number of women treat themselves to a little affordable luxury. Several intertwined factors are driving the market. Nail art fashion has transformed women’s nails into stylish accessories, supported by a continuing flood of innovative, fashion-forward nail care products. This holds particularly true for mature markets stricken by ongoing economic sluggishness, where consumers – tired of austerity – are allowing themselves affordable indulgences, resulting in a sharp uptick in the number of women frequently treating themselves by using professional nail care services.
According to preliminary findings, the U.S. market is on track to register a healthy double-digit increase in 2012. Soak-off gels continue to experience considerable growth in the North American market and are taking over the sales of traditional hard gels. Gel products are becoming very popular and growing at a fast pace in the United States. In 2010, CND introduced Shellac, bringing a revolution to the market, and OPI introduced GelColour at the end of 2011.
In Brazil, one of the largest professional nail care markets, the nail market is still being dominated by retail brands, with the three leading brands – Impala, Risque, and Colorama – maintaining very similar price levels of around USD 1.50. Nail gels are not yet a popular trend in Brazil as traditional nail polish is much more affordable. Brazil continues to be one of the world’s strongest beauty markets and is expected to maintain its dominance with the upcoming 2014 FIFA World Cup and 2016 Summer Olympics, both held in Brazil, with local companies escalating their marketing efforts and reaching a larger audience.
For more information, see Professional Nail Care: Global Market Brief.
Sabrina Hadek, Research Analyst