Nail Polish Market Size Worth $15.55 Bn by 2024 | Cagr: 9.5%

Tuesday 5 December 2017, Amsterdam

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.