Technavio Announces Top Four Emerging Trends Impacting the Global Premium Nail Polish Market

LONDON–(BUSINESS WIRE)–Technavio’s latest report on the global
premium nail polish market
, provides an analysis of the key
trends expected to impact the global premium nail polish market through
2015-2019. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

The global premium nail polish market is expected to exceed USD 2
billion by 2019, growing at a CAGR of over 6%. According to Technavio,
the global premium nail polish market is growing at a healthy YoY growth
rate due to changing buying patterns of consumers and the growing
presence of nail bars and nail salons which encourage consumers to seek
professional help for their nail coloring and treatment.

“The global middle class population is expected to increase by three
billion during the decade beginning in 2010. The rising disposable
income among this middle-class population is expected to trigger an
increase in the sales of premium nail polish,” says Arushi Thakur, a
lead analyst for cosmetics
and toiletry
research at Technavio.

The top four emerging trends influencing the global premium nail polish
market according to Technavio’s consumer
and retail
research analysts are:

Nail art trending

One of the latest trends in the premium nail polish market is the
increasing acceptance of nail art among customers. It has gained wide
success in the nail polish market and has become popular among women
between the ages of 15 to early 50s.

Some of the nail art nail polishes by L’Oréal are ‘Nail Art Moon Candy
Nail Enamel’ and ‘Nail Art Sun Candy Nail Enamel’. Nails Inc.’s
‘Magnetic Polish’ is one of the newly launched nail art polishes of the
company.

The use of 3-D printing is also extending to the nail art segment.
Adhesive stickers that cause no damage to the nail or nail polish are
used to apply reusable nails.

Increase in demand for natural and organic products

The increasing health and wellness trend across the globe has also left
its impression on the premium nail polish industry. Realizing the
growing trend, manufacturers are now developing natural and organic nail
polishes. For instance, the Nourish brand of organic nail polish is
infused with natural ingredients and essential oils with anti-fungal
activity aimed at promoting healthy nails.

Changing channel format

Manufacturers are also using various channels to market their products,
be it through online or offline medium. Various manufacturers are using
various mobile-based applications to induce customers into buying their
products.

Nail Art Gallery App has been created to upload and share new nail art
photos. There are various start-ups and other small players in the
market that are looking to kiosks for their offerings in addition to the
traditional retail formats. Companies like Benefit and Sephora have
installed interactive digital kiosks and beauty vendors to indulge
customers on the go.

Social media campaign and celebrity endorsements

Presence of social media is a boon to many industries as social
investment helps brands gain access to an effective platform to engage
with consumers and make their presence felt.

In the premium nail polish market, blogging sites such as Nailed Blog
offers a key platform for discussion forums on nail polish brands. Some
of the successful social media campaigns include, Coty’s ‘Show Your True
Color’ for OPI and ‘Together’ by Estée Lauder. L’Oréal spent over 15% of
its media spending on digital and social media in 2014.

Celebrity endorsements are smart for business. Celebrities like Gwen
Stefani brought out seven new shades and finishes of nail polish with
OPI; and Shiseido signed Lady Gaga as chief brand ambassador in January
2015.

Some of the top vendors in the global premium nail polish market, as
researched by Technavio analysts are:

  • Chanel
  • Coty Inc.
  • Estée Lauder
  • KAO Corporation
  • L’Oréal
  • LVMH
  • Shiseido

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 630 333 9501
UK: +44 208 123 1770
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