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5 reasons why the global nailcare market is set to expand 8.4% by 2027

By Emma Hobday | 23 July 2021 | News

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According to a new research report published by Transparency Market Research, the global nail care market is expected to reach a value of just under $21 million by 2027, expanding at an average growth rate of 8.4% from the period of 2019 to 2027.

Asia is anticipated to maintain its dominance of the global nailcare market during this forecast period (the continent accounted for 34% of the global nailcare market in 2018), however it is being closely followed by South America and Europe.

So what global factors are making the nail market grow?

1. The growing awareness about nail hygiene due to the pandemic will help in bringing immense growth prospects for the nailcare market.

2. Social media platforms such as Instagram enhance the emphasis on beauty, fashion, lifestyle and sharing images for likes and follows, meaning women are going for more manicures and pedicures to make a statement and to share on social media.

3. The demand in the nailcare market bigwig, Asia, for innovative and new technology nailcare products such as special effects, soak off gels, new finishes, and magnetic nail polish, with the trends due to make their way around the world during the forecast period

4. The changing male preferences towards nailcare is also a key factor in driving the global nail care market. Major manufacturers of nail care products are launching entire product ranges for men in response to a rise in demand. This is largely driven by the influence of South Korea based beauty trends, which has led to the emergence of similar trends in Japan, China, India, Brazil, and Russia.

5. Furthermore, popularity of gel polish has increased amongst professionals and consumers owing to its ease of application and long-lasting properties.