NAIL POLISH MARKET ANALYSIS

Regional Analysis

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North America has dominated the nail polish market for several years owing to its large customer base and strong industry presence. This region is expected to account for 35.7% of the market share in 2024. The region is home to many leading manufacturers and brands such as OPI, Essie, China Glaze, and Sally Hansen that have established immense brand recognition over time. These companies have their regional headquarters and manufacturing facilities across the U.S. and Canada, ensuring easy availability of all types of nail polishes at affordable price points. They also actively carry out promotional activities to promote new collections and seasonal products.  The easy access to nail services and large retail store presence of all major brands has made nail polishes an indispensable part of daily beauty routines for women as well as young adults in North America. The pricing of nail polishes catering to different budgets has further boosted consumption over the years. Exports within the region as well as to other territories has also contributed towards its sizable market share.

Fast emerging as the next big market is the Asia Pacific region, led by South-East Asian countries like Vietnam, Indonesia, and Philippines. The growing popularity of nail art styles coupled with increasing disposable incomes is driving both the demand and availability of products in the Asia Pacific nail polish market. While domestic brands have a strong presence, international brands are also aggressively expanding their footprint through franchising and partnerships with local salons, retailers as well as e-commerce websites to tap into this fast-growing consumer base. The prices of nail polishes in the Asia Pacific region are generally lower compared to the developed markets owing to local production and easy availability of raw materials. This has ensured nail polishes are affordable and accessible for women from wider income segments. Rising exposure to global fashion and beauty trends via social media is also popularizing international brands among the young population. With its huge population and propensity for experimenting with styles, the Asia Pacific region is poised to take over as the worldwide leader in the nail polish market in the coming years.