The global artificial nails market size was valued at USD 1.45 billion in 2023. The market is expected to expand from USD 1.52 billion in 2024 to USD 2.37 billion by 2032, exhibiting a CAGR of 5.75% over the study period.
Artificial nails are developed using different materials, such as powder, gel, acrylic, and others. They also have a typical application to the natural nail bed or nail to increase strength and length. The innovations in technology have led to durability, ease of application, and realistic appearance of fake nails. This factor has made them attractive to a wider audience, which is positively affecting the market trends.
There was a surge in the closures of salons and concerns pertaining to health in 2020, which led to search for at-home beauty solutions by people. Due to these factors, the market was able to sustain the COVID-19 pandemic impact in a considerable manner, unlike other industries.
Fortune Business Insights™ provides this information in its research report, titled “Artificial Nails Market, 2024-2032”.
Information Source: https://www.fortunebusinessinsights.com/artificial-nails-market-110177
Top Company in the Artificial Nails Market:
- Ardell Lashes and Beauty (U.S.)
- Hand and Nail Harmony U.S.)
- Marmalade Cosmetics (U.S.)
- Kiss Products (U.S.)
- Anise Cosmetics (U.S.)
- Beauty 21 Cosmetics Inc. (U.S.)
- Naio Nails (U.K.)
- KM Nail Manufacturer (U.S.)
- Dashing Diva (U.S.)
- Sheba Nails Inc. (U.S.)
- Senboma (China)
Segmentation:
Surging Availability of a Wide Range of Press on Nails to Fuel Segment Growth
In terms of type, the market is segmented into press on nails and wrap nails. The press on nails segment occupied the largest share of the market in 2023, fueled by the growing availability of a diverse range of products with different colors, sizes, and designs. Moreover, the ease in trimming, painting, and shaping to cater to a person’s preference further augments the segment expansion.
Amplified Demand for Acrylic Nails Fuels its Dominance
With respect to material, the market is segregated into dip powder, acrylic nails, gel nails, and others. The acrylic segment holds the apex position in the market propelled by the mounting demand for these nails and its ease of application.
Specialty Stores Hold a Leading Position Owing to the Benefit of a Tactile Shopping Experience
On the basis of distribution channel, the market is segregated into specialty stores, online retail, supermarkets/hypermarkets, and others. The specialty stores segment witnessed the largest artificial nails market share in 2023, owing to the benefit of a tactile shopping experience. This enables customers to get personalized assistance from sales associates and evaluate products physically while buying immediately without waiting for shipping.
From the regional perspective, the market is classified into the Middle East & Africa, North America, Europe, Asia Pacific, and South America.
Report Coverage
The competitive strategies deployed by top companies to stand out from the competition have been mentioned in the report. Besides this, it provides a comprehensive coverage of the key factors impacting the market growth. The report further offers detailed insights into the dominating segments, key industry developments, and the impact of the COVID-19 pandemic on the market growth.
Drivers and Restraints:
Rising Consumer Expenditure and Increasing Impact of Social Media Platforms to Drive Market Growth
The recent years have witnessed a sharp incline growth curve in the spending of consumers on cosmetics and personal care products, driven by higher disposable incomes and economic expansion. Many factors, such as varying societal norms, rising impact of social media, increasing disposable income, and surge in awareness of self-care are leading to the increase in consumer spending.
However, surging allergic reactions and prohibitive maintenance costs may impede the artificial nails market growth.
Regional Insights:
Asia Pacific Led Driven by Release of Brands by New Companies
Asia Pacific secured the largest share of the artificial nails market in 2023 on account of the unveiling of brands by many new companies across the region. For instance, in May 2022, a new fake nails brand, SOEZI was released by Sonakshi Sinha, a popular Indian actress. As per the company, press on nails are provided by the new brand.
North America is anticipated to expand considerably during the forecast period, which can be credited to the strong presence of prominent companies coupled with increasing consumer spending power. Moreover, the Canadian beauty and personal care products market is expected to thrive and expand in the artificial nails sector in an exponential manner.
Competitive Landscape:
Leading Companies Focus on Capacity Expansions to Expand Their Presence
The artificial nails market is witnessing intense competitive rivalry. Joint ventures, collaborations, and acquisitions are the strategies implemented by leading companies to reinforce their industry position. Many of these companies are also opting capacity expansions to broaden their presence.
Key Industry Development:
March 2024: Soezi, the premium press on nail brand jointly founded by Indian actress Sonakshi Sinha and Srishti Raai announced its offline debut in Pune, India. A diverse array of nail tips are offered by the brand and the products are handcrafted by deploying premium gel polish.