London, 16 December 2015: Technavio, the independent tech-focused global research firm, has published a report on the global premium nail polish market 2015-2019, which is expected to grow at a CAGR of 6.25% during the forecast period of 2014-2019.
“Nail art is one of the latest trends that has gained traction in this market, especially among women between the ages of 15 to early 50s. Nail art designs like 3D, use of glittered and colored acylic have become very popular among the consumers. Adhesive stickers that cause no damage to the nail or nail polish are used to apply reusable nails,” says Faisal Ghaus, Vice President of Technavio.
Owing to the rise in health and wellness consciousness among consumers, the vendors are now developing natural and organic nail polishes. Manufacturers are introducing new premium nail polishes which are made of natural ingredients or are organic. For instance, L’Oréal’s ‘Colour Crush’ is a premium natural nail polish, which is 100% vegan and contains Community Fair Trade marula oil.
Key Market Drivers
- Product innovation and advances in technology
- Growing presence of nail bars and salons
- Rise in demand from the developing countries
- Increased demand for nail treatment in developed markets
Key Market Trends
- Nail art trending
- Increase in demand for natural and organic products
- Changing channel format
- Social media campaign and celebrity endorsements
Key Market Vendors
- Estée Lauder Companies
- L’Oréal
- Shiseido
- LVMH Moët Hennessy
- Louis Vuitton
- Coty Inc
- Kao Corp
- Chanel
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Premium Nail Polish Market 2015-2019, please send an e-mail to media@TechNavio.com.
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