Gel Nail Polish to Lead India Nail Polish Market through 2024

Increasing youth population, adoption of western lifestyle & culture and rising penetration of e-commerce to boost India nailcare market through 2024

According to a TechSci Research report, “India Nail Polish Market By Type, By Distribution Channel, Competition, Forecast and Opportunities, 2024”, India nail polish market is projected to register a CAGR of over 10%, during 2019-2024. The growth of nail polish market is compelled by factors such as extension of product portfolio by various brands through introduction of a variety of products coupled with expansion of distribution channel in tier-I and tier-II cities. Moreover, rising inclination of young generation towards e-commerce due to availability of numerous options under one portal and lucrative discounts is further pushing the sale of branded nail polish across the country. Additionally, emergence of online brands such as Nykaa, Purplle along with increased internet users would further propel the presence of online retail in the nail polish industry. Increasing penetration in rural areas and aggressive marketing & promotional strategies are expected to positively influence the country’s nail polish market in the coming years.

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With more and more companies offering nail polish products at various price points and pack sizes, inclination of middle-income group people towards branded products has increased which has provided a much needed push for the organized nail polish market in the country.

Hindustan Unilever Limited, Colorbar Cosmetics Private Limited, L’Oreal India Pvt. Ltd., Lakme Lever Private Limited, Lotus Herbals Pvt Ltd, etc., are some of the leading players in India nail polish market in 2018 which are expected to remain dominant during forecast period as well. The companies like Hindustan Unilever Limited and Colorbar Cosmetics Private Limited are focusing on product innovations by investing on media campaigns, relaunching their products with more compact packaging and highlighting the ingredient with more focus on natural trend.

On the basis of type, India nail polish is broadly segmented into gel nail polish, matte nail polish, pearl nail polish and others. Of all, gel nail polish dominates India nail polish market due to availability of a variety of products in the category.

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“Nail polish market is highly competitive with several companies in the industry continuously increasing their spending on marketing activities to increase their brand recall among the consumers by grabbing attention through the conventional print or electronic media. Moreover, companies have also been focusing on maximizing their revenues from direct distribution channels, presence in rural areas and extend deeper into the modern trade and e-commerce segments, which is further driving growth in India nail polish.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Nail Polish Market By Type, By Distribution Channel, Competition, Forecast and Opportunities, 2024” has evaluated the future growth potential of India nail polish market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the India Nail Polish market.

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