Given the maturity of the cosmetics industry, it’s challenging to find a segment that shows double-digit growth these days. A true gem was uncovered in Kline’s first edition of Professional Nail Care: Global Market Brief – a market estimated at nearly $1 billion in 2012 and posting a robust growth of over 25%, where developed markets, such as the United States, the United Kingdom, and Germany, highly contributed to driving this growth. Even more interesting is the recession-proof nature of this market.
Where did such explosive growth come from? How did it happen? The key factors fueling market gains are fashion trends and consumers’ need to indulge in an affordable luxury. The introduction of over 30 important new gel products between 2010 and 2012 has also spurred the market’s strong performance. The gel-polish phenomenon attracted billions of women to the promise of a long-lasting manicure that can last up to two weeks.
Since Kline published its 2012 report, the market continues moving forward with market players looking at new ways to boost sales. New product launches—not only on new shades and colors, but also textures like liquid sand, caviar, “fuzzy” texture, sparkles, matte effect top coats, etc. —are seasonally coming back with a “push” from key players, such as OPI or Sally Hansen. A considerable area of research and improvement in gels has resulted in speeding up dry and removal time, as well as preventing color from fading or yellowing. In the professional nail polish market, the most remarkable innovation has been Vinylux weekly polish, a product placed between regular nail polish and gel polish in terms of wear. There is also increased blurriness between professional and retail products with several brands introducing into the retail channels DIY at-home gel sets with products and UV lamps included.
To be able to remain competitive, offering nail care services became a must for hair salons, spas, and beauty institutes while nail bars proliferated across the globe meeting the increasing demand for professional manicures and pedicures. Many leading beauty players on the global front, such as L’Oréal, Revlon, and Coty, seized the opportunity with acquisitions.
Need more reasons to get immersed into this market? Our NEW 2014 edition of the Professional Nail Care: Global Market Brief will look at how this global market has performed in 2013 and how it will develop through 2014, as well as provide an examination of its future opportunities. In this new edition, we will also provide brief snapshots highlighting the key features, structure, size, dynamics, and competitive landscape for Asia, Europe, Latin America, and North America. Additionally, the report is enriched with profiles of leading brands, as well as snapshots of smaller regional players that could be interesting for possible acquisition targets. Don’t miss your chance to see where your company could fit into this appealing and fascinating market! To find out more about this report, contact our team.