The
global nail polish market is expected to reach USD 15.55
billion by 2024, growing at a CAGR of 9.5%, according to a new report by Grand
View Research, Inc. The growing popularity of nail designs among the young
population is likely to fuel the demand over the forecast period.
Nail
products including enamel/varnish/lacquer is expected to be the fastest growing
color cosmetics segment on account of the development of innovative textures
and effects. The number of professional salons providing nail care services is
increasing rapidly. New product development and collaborations between
manufacturers and salons are expected to have a positive impact on market
growth. The demand for liquid enamel is estimated to grow at a steady pace
owing to behavioral attributes such as changing designs frequently and rising
beauty awareness.
The
consumption of liquid nail polish is high in Europe due to the presence of
fashion capitals such as Paris, London, and Milan. In Latin America, long and
polished nails have become a trend among the young girls, with Brazil being the
biggest consumer owing to the thriving fashion industry. Increasing consumer
disposable income, rising consciousness among women regarding their appearance,
and popularity of nail art are expected to have a positive impact on demand
over the next eight years.
Browse full research report on Nail
Polish Market: http://www.grandviewresearch.com/industry-analysis/nail-polish-market
Further
Key Findings From the Study Suggest:
- Gel polish accounted for a share of 10.1% in
2015 and is expected to witness considerable growth over the coming years
owing to rising demand for long lasting nail paints
- Liquid polish segment is anticipated to grow at
a CAGR of 9.4% from 2016 to 2024 due to affordability and availability of
numerous colors
- Europe is expected to witness a CAGR of 9.1%
from 2016 to 2024 owing to rapid expansion by industry participants in the
region
- Asia Pacific is the second-fastest growing
region with a CAGR of 10.2% from 2016 to 2024 owing to the presence of a
large number of the youth population
- The market is highly fragmented owing to the
presence of a large number of small and large manufacturers
- Product differentiation on the basis of color
shades is being practiced by a large number of industry participants
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-nail-polish-market
About
Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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