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Fashion trends are a major driving force behind the growth of the market. As fashion evolves, so too does the demand for innovative and stylish nail care products that allow consumers to express themselves and stay on-trend. Nail art has become a significant trend, with intricate designs, patterns, and embellishments gaining popularity. This trend has fueled the demand for a wide range of nail polishes, decals, glitter, gems, and other accessories that allow for creative expression.
The rise of DIY nail art, supported by tutorials and inspiration from social media platforms, has expanded the market for nail art kits and tools, making it easier for consumers to experiment with different looks at home. Nail polish colors are heavily influenced by seasonal fashion trends, with brands releasing new collections that align with the colors and themes of the season. For instance, pastel shades may dominate spring collections, while bold, dark colors are popular in fall and winter. Limited edition collections tied to specific events or collaborations with fashion designers also drive consumer interest, creating a sense of urgency to purchase the latest shades.
L'Or
North America nail care products industry is set to record a CAGR of 5% through 2032, due to rising consumer awareness, social media influence, and increased at-home nail care practices.
The nail polish segment in the nail care products industry was worth USD 9.2 billion in 2023 and will record at 5.3% CAGR through 2032, due to the continuous innovation in nail polish formulations.
The nail care products industry was valued at USD 22.5 billion in 2023 and is anticipated to witness a 5.1% CAGR between 2024 and 2032 bolstered by a rising focus on personal grooming and beauty.