Rising Tend of Eco-Conscious Lifestyle Predominantly Drives the Global Non-Toxic Nail Polish Market
Global non-toxic nail polish market is gaining huge traction currently. The market is majorly driven by the increasing awareness about the harmful effects of chemicals among consumers using them. Non-toxic nail polish is made from organic ingredients, which increases their popularity among consumers who are allergic to chemicals. Also, changing fashion trends are accelerating market growth, increasing the overall nail salon industry.
Spurting growth in the cosmetics industry is driving the market growth excellently. Moreover, the demand for organic cosmetics is likely to foster the growth of the market, increasing with the expanding user base over the forthcoming years. According to Market Research Future (MRFR), the global Non-Toxic Nail Polish Market is projected to reach a valuation of USD 2.3 billion by 2024, growing at 4.9% CAGR during the review period (2019 – 2024).
Also, government efforts to encourage the use of non-toxic chemicals for manufacturing cosmetic products provide impetus to market growth. Inspired by these government initiatives, market players focus on their research & development activities to launch new and innovative products that are non-toxic. Alongside developing non-toxic nail polish, manufacturers also focus on expanding distribution channels to make their products accessible to customers across the globe.
In addition to the ever-changing consumer preferences & demand, price volatility, and the demand-supply gap are the other major factors expected to impede the market growth over the anticipated period. Nevertheless, advances in organic farming and increased awareness about the benefits of natural products would support market growth during the review period.
Also Read : https://www.marketwatch.com/press-release/covid-19-pandemic-impact-on-non-toxic-nail-polish-market-synopsis-size-value-share-emerging-audience-business-opportunity-upcoming-trend-and-forecast-to-2024-2020-09-08
Non-Toxic Nail Polish Market - Segmentations
The market is segmented into four dynamics;
By Product Type : Base Coat, Topcoat, Gel, and others.
By Finish : Glossy, Matte, Glitter, Satin, and others.
By Distribution Channel : Store-Based (Supermarkets & Hypermarkets, Specialty Stores, others) and Non-Store Based.
By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
Non-Toxic Nail Polish Market - Regional Analysis
North America dominates the global non-toxic nail polish market. The largest market share attributes to the increasing awareness about the harmful effects of chemicals on the human body and the rising demand for not toxic products worldwide. With major growth contributors such as the US and Canada, North America continues to be a key investment destination for the market players. The North American non-toxic nail polish market is expected to grow at an impressive CAGR during the forecast period.
Europe stands second in the global non-toxic nail polish market owing to the presence of major brands available in the region. Also, the vast consumer base and increasing health awareness magnify the growth of the regional market. European consumer is largely inclined towards natural and organic nail beauty products. The region witnessed an exceptionally high production of non-toxic nail polish, which drives the market growth favorably. The European non-toxic nail polish market is estimated to grow at a substantial CAGR over the assessment period.
The Non-Toxic Nail Polish market holds a unique position in the Asia Pacific region. The huge popularity of natural beauty products, alongside the presence of a large number of manufacturers and increasing production facilities across the region, foster the market growth. The APAC non-toxic nail polish market is projected to witness strong growth during the review period.
Global Non-Toxic Nail Polish Market -- Competitive Advantage
Highly competitive, the non-toxic nail polish market appears fragmented with the presence of several well-established players. Constantly changing consumer preferences and demands are encouraging the manufacturers to develop products with organic & natural ingredients, increasing synergy in their supply chains. Players make substantial investments in R&D required for formulation work. Alongside expanding their business in emerging & rapidly growing markets, players also try to expand their reach in the online/ eCommerce market.
Players leading the global non-toxic nail polish market include Orly International, Inc (US), Kure Bazaar SAS (France), Smith & Cult, LLC (US), NBY London Ltd. (UK), Kosé Corporation (Japan), Art of Beauty Inc (US), Pacifica Companies (India), Benecos (UK), Cienna Rose Limited (UK), Butter London, LLC (UK), Soigné nails (UK), Jinsoon (UK), Kester Black (UK), Honeybee Gardens Inc. (US), Karma Organic Spa (US), and Beautylish, Inc. (US), among others.
Industry/ Innovation/ Related News
April 16, 2020 ---- Candied Nails, an online nail-art store offering cruelty-free, vegan and non-toxic nail polish strips, announced its plans to expand its line to include solid color and design press on nails in fun kids' styles too. An alternative to nail salons, Candied Nails, are conveniently ordered online and easy to apply. Candied Nails attributes the growth to affordability, choices, and stylist program.
Candied Nails experienced a gap in the nail salon market and set out to fill it with its model for success includes long-lasting nail art that is not only eye-catching but affordable too. With its strong online presence, Candied Nails puts its nail design directly into consumer's hands, which is why the business is growing in leaps and bounds.
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November 25, 2019 ---- Sally Hansen Inc., an American beauty brand dedicated to making innovatively-formulated, affordable beauty products, launched a collection of plant-based, 100% vegan nail polish named Good.Kind.Pure. Sally Hansen has been a reliable mainstay brand in the beauty industry, and creating a 30 shade collection of luxurious & clean beauty products is a major indication of shifting trends.
The brand says, given the consumers want good-for-you (and good-for-your-nails) makeup, the brand decided to take-up that initiative. Sally Hansen's hit drug stores and mass retailers as early as January 2020 but is available now at Target.com.
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