LONDON–(BUSINESS WIRE)–Technavio’s latest report on the global premium nail polish market, provides an analysis of the vital trends expected to impact the global premium nail polish market through 2015-2019. Technavio defines an emerging trend as a factor that has actually 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 and balanced YoY growth price because of changing buying patterns of consumers and the growing presence of nail bars and nail salons which encourage consumers to seek professional guidance for their nail coloring and treatment.
“The global middle class population is expected to raise by three billion throughout the decade start in 2010. The rising disposable income among this middle-class population is expected to induce an raise 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 most recent trends in the premium nail polish market is the increasing acceptance of nail art among customers. It has actually gained wide triumph in the nail polish market and has actually 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 likewise extending to the nail art segment. Adhesive stickers that induce no damage to the nail or nail polish are used to apply reusable nails.
Increase in need for natural and organic products
The increasing healthiness and health trend across the globe has actually likewise left its impression on the premium nail polish industry. Realizing the growing trend, manufacturers are now making natural and organic nail polishes. For instance, the Nourish brand of organic nail polish is infused along with natural ingredients and vital oils along with anti-fungal activity aimed at promoting healthy and balanced nails.
Changing channel format
Manufacturers are likewise 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 in to buying their products.
Nail Art Gallery App has actually been developed to upload and share brand-new nail art photos. There are various start-ups and others small gamers in the market that are looking to kiosks for their offerings in addition to the traditional retail formats. Companies adore Benefit and Sephora have actually 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 lots of industries as social investment helps brands obtain access to an efficient platform to engage along with consumers and make their presence felt.
In the premium nail polish market, blogging sites such as Nailed Blog offers a vital platform for discussion forums on nail polish brands. Several of the successful social media campaigns include, Coty’s ‘Prove to 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 adore Gwen Stefani brought out seven brand-new shades and finishes of nail polish along 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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