Market analysis of the nail care market
The market research analyst predicts the global nail care market to reach a market value of around USD 9 billion by the end of 2019. The rising demand for nail polish among the younger population is one of the primary drivers of the market. Around 91% of girls between the age of nine and seventeen use some form of nail products, making it one of the most popular cosmetic item among teenage girls. Fashion trend such as nail art is also transforming a nail into a stylish accessory.
The side effects of the chemicals incorporated in the nail care products are expected to pose challenges for the growth of the market. For instance, formaldehyde resin causes dermatitis. Camphor, another chemical used in nail care products can cause nausea, dizziness, and headaches when inhaled, especially in large doses for nail technicians
Product segmentation and analysis of the nail care market
- Nail polish
- Nail accessories
- Nail treatments
- Artificial nails/accessories
- Nail polish removers
Nail polish is the largest segment of the market. India and China are predicted to be the emerging regions for the nail polish market. Manufacturers are experimenting with new formulations and adding chemicals compounds to develop products in the nail polish segment. For instance, the Tranzitions Nail Lacquer with Hardeners by China Glaze starts with one colour, but changes to a second shade when a topcoat is applied giving the consumers an entirely new look with just one swipe.
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Geographical segmentation and analysis of the global nail care market
The Americas accounted for 48% of the market shares during 2014. The US is the largest revenue contributor in this region followed by Brazil. The report predicts the Latin American market to witness the fastest growth during the forecast period.
Competitive landscape and key vendors
The global nail care market is highly fragmented due to the presence of both top providers and private players operating across the globe. The report predicts the market to witness intense competition during the forecast period along with several product launches, price wars, and mergers.
The top four vendors in the market are
- Estee Lauder
Other vendors in the market include Amway, Chanel, Coty, Clarins, KAO, LVMH MoÃ«t Hennessy, Markwins, P&G, Shiseido, and Unilever.
Key questions answered in the report include
- What will the market size and the growth rate be in 2019?
- What are the key factors driving the global nail care market?
- What are the key market trends impacting the growth of the global nail care market?
- What are the challenges to market growth?
- Who are the key vendors in the nail care market?
- What are the market opportunities and threats faced by the vendors in the nail care market?
- Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA?
- What are the key outcomes of the five forces analysis of the global nail care market?
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