LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global nail care products market to grow at a CAGR of close to 4% during the period 2018-2022, according to their latest report.
In this report, Technavio highlights the emergence of augmented reality to enhance shopping experience as one of the key emerging trends in the global nail care products market. The rapid adoption of digital technology by the players in the market is leading to an increase in the distribution of the beauty and personal care products. Players are adopting innovative ways to attract the customer's attention and to enhance their shopping experience. Augmented reality (AR) is one of the innovative technology in the beauty industry. In the nail care products market, the emergence of AR is a growing trend that helps to enhance customer's shopping experience and provides convenience while choosing an appropriate nail color. The adoption of this technology is currently low but is expected to grow with growing awareness of AR technology benefits during the forecast period.
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In this report, Technavio analysts highlight the availability of non-toxic solutions for nail care as a key factor contributing to the growth of the global nail care products market:
Availability of non-toxic solutions for nail care
The growing concern for healthy nails encourages consumers in adopting non-toxic and natural solutions so that their cuticles and nails are not affected by harsh toxic chemicals used in the nail polishes. Various companies provide non-toxic solutions for nail care. Such companies are free from the three main toxic chemicals that are hazardous for nails — toluene, formaldehyde, and dibutyl phthalate (DBP). When used in high proportion, such toxic chemicals could adversely affect the nails and result in health issues such as cancer, nails brittleness, yellowness on nails, and skin infections. In addition, these toxic chemicals, which are present in most nail polishes, can also affect the immune system and the health of pregnant women.
According to a senior analyst at Technavio for cosmetics and toiletry, “Some companies are concentrating on providing non-toxic and organic solutions for health-conscious customers and gaining their attention. Providing such solutions to the customers is a major driver for the companies, which aim to provide organic and non-toxic nail care products. Moreover, this enables the premium pricing of the products.”
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Global nail care products market segmentation
This market research report segments the global nail care products market into the following products, including nail polish, nail accessories and implements, nail strengtheners, nail polish removers, artificial nails and accessories, and nail polish accessories and key regions, including the Americas, APAC, and EMEA.
Of the six major products, the nail polish segment held the largest market share in 2017, accounting for nearly 63% of the market. The market share for this product is expected to decrease by 2022. The fastest growing product is nail polish removers, which will account for nearly 8% of the total market share by 2022.
The Americas was the leading region for the global nail care products market in 2017, accounting for a market share of nearly 47%. By 2022, APAC is expected to witness the highest growth rate of nearly 2%.
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