Nail polish is a thick colored lacquer that is used to paint and protect fingernails and toenails. To make nail polish simpler to apply, a range of chemical components are bonded together throughout the creation process. Pearls, pigments, resins, plasticizers, solvents, film formers, and thickening agents such as cetalkonium hectorite are some examples of these compounds. The market is filled with a wide variety of nail polishes, such as matte, regular, chrome, gel, and glitter. Furthermore, nail art and extensions are an essential part of grooming for millennials. The demand for the product is then expected to rise over the projected period as a result.
According to SPER market research, ‘Global Premium Nail Polish Market Size– By Finish, By Type, By Product, By Distribution Channel, By End User – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Premium Nail Polish Market is predicted to reach USD 29.59 billion by 2033 with a CAGR of 7.1%.
It is anticipated that the number of working women worldwide would rise, driving up demand for nail paint. Women who work outside the home and earn a living through regular employment are referred to as working women. Nail polishes help by giving them a fantastic look and a vibrant, beautiful appearance. For example, the U.S. Bureau of Labor reported that women comprised around 50% of the workforce in the country. As a result, the global increase in working women is driving growth in the nail polish market.
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Customers' desire for nail paints with outstanding quality, performance, and longevity is another motivating element. Premium nail polishes often feature better formulas, more chip resistance, and longer wear times than their less expensive counterparts. The need for durable and long-lasting nail polishes contributes to the growth of the premium market.
Impact of COVID-19 on Global Premium Nail Polish Market
The market for high-end nail polish was affected differently by the COVID-19 epidemic. On the one hand, the pandemic encouraged creativity and innovation as people searched for ways to kill time at home. Intricate nail art with uncommon color combinations gained popularity at this time. Premium nail polish producers often offer a wide range of colors, finishes, and formulations, which could encourage artistic endeavors and increase interest in their goods.
Premium Nail Polish Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; American International Industries, Wella Operations US LLC, CND, Chemence, Alessandro International, Keystone Industries, Light Elegance, NV Organics, Others.
Global Premium Nail Polish Market Segmentation:
By Type: Based on the Type, Global Premium Nail Polish Market is segmented as; Base Coat, Top Coat, Others.
By Product: Based on the Product, Global Premium Nail Polish Market is segmented as; Liquid, Gel.
By Finish: Based on the Finish, Global Premium Nail Polish Market is segmented as; Glossy, Matte, Glitter, Satin, Others.
By Distribution Channel: Based on the Distribution Channel, Global Premium Nail Polish Market is segmented as; Supermarket and Hypermarkets, Independent Stores, Specialty Stores, E-Commerce.
By End User: Based on the End User, Global Premium Nail Polish Market is segmented as; Female, Male.
By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Premium Nail Polish Market Future Outlook
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