Market Research Future (MRFR) presumes that the artificial nails market will exhibit steady growth at a decent rate of 4.5% over the analysis period (from 2020 to 2027). Additionally, the market worth by 2027 is expected to be USD 1.2 billion, expects Market Research Future.
Prominent Drivers and Impediments
Consumers worldwide are growing aware about nail grooming and are therefore, shifting their focus towards the latest fashionable and stylish products that offer a trendy look. The global industry is given a strong boost from rapidly emerging beauty trends while the prevalence of Halloween parties and similar occasions also foster business growth. Frequent innovations in manufacturing technologies, emergence of new fashion trends and availability of different attractive products in the region ensure favorable prospects for the artificial nails market.
The expanding retail industry and the rising popularity of several e-commerce sites should be a lucrative opportunity for the major companies in the global market. Various firms are opting to sell their products on online shopping sites since these render lower costs in comparison to conventional retail outlets. E-commerce allows organizations to reach to a bigger customer base, which results in considerable brand awareness. In short, the soaring prevalence of online shopping channels among consumers will translate into substantial revenue generation in the ensuing years.
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Different types of artificial nails in the market are press-on, wrap, and more. Press-on nails can garner the highest share while also achieving the fastest growth rate in the coming years. These types of artificial nails are convenient, easy to use, and far more affordable than other types of products. They save energy and time without requiring frequent maintenance.
Key distribution channels in the artificial nails market are store-based as well as non-store-based. Store-based channels worldwide include specialty stores, supermarkets, and hypermarkets, and more. The bigger share in the global market would be captured by the store-based segment in the following years, thanks to the extensive availability of several types of artificial nails in hypermarkets and supermarkets. Additionally, the escalating preference among consumers for store-based distribution channels can be accredited to the fact that these outlets offer a one-stop experience to shoppers. Meanwhile, it is projected that non-store-based channels will attain a higher development rate in the upcoming period, on account of the soaring sales of beauty and personal care items on the e-commerce platforms.
North America has secured the highest position in the global market, thanks to the massive customer base in the region widely interested in a variety of fashion accessories. The US market has taken the lead in the region, in view of the thriving fashion industry. The rapid innovations in artificial nails by the renowned brands in the region also bolster the sales. The market size is further enhanced by the surge in promotional and advertising activities that aim to capture the attention of a higher number of consumers. Most of these advertisements try to spark the interest of certain age groups, including adolescents and especially the youth. The introduction of new types of artificial nails like press ons further elevate consumer interest in the region.
Asia Pacific will remain a highly profitable market for artificial nails in the future, presenting lucrative opportunities to global manufacturers. The population is increasingly following the latest global fashion trends, with China and India housing a vast customer base for hair and nail accessories. Rising urbanization rate, surging disposable income, and enhanced purchasing power of the consumers are raising the demand for artificial nails and various other cosmetic and beauty products. The heightened focus of the youth on making style statements that complement their looks is the latest trend in the APAC market.
The European industry is majorly influenced by the flourishing fashion magazines and the media, raising awareness among consumers about the latest types of artificial nails. Other growth favoring factor can be the emergence of various tutorials, pictures and videos of trendy nail accessories that influence the tastes of the consumers. High availability of a variety of fake nails on several online shopping websites also ensure relentless market growth during the conjectured period.
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Ardell lashes and beauty, Intercontinental nail products manufacturer, Hand and nail harmony, Marmalade cosmetics, Anise cosmetics, Kiss products, Dashing diva, Sheba’s nails, No nails, Young nails, Parfums de Coeur are the top artificial nails manufacturers enlisted in the MRFR review study.s
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