India Nail Care Market is displaying a remarkable growth trajectory and is projected to advance at 10.83% CAGR for the forecast period between FY2024 and FY2031 due to the growing number of beauty-conscious consumers, dynamic fashion trends, western culture’s influence, increasing disposable incomes and awareness among individuals who are more conscious of their appearance. As per IMF, the Indian economy will be the fastest-growing economy in this decade and is estimated to grow at an average of 6.5% throughout the decade.
India Nail Care Market is witnessing a strong growth rate and it is projected to reach USD 910.53 million by FY2031 from USD 2072.78 million in FY2023. The Indian market has unparalleled growth potential owing to its large population and increasing workforce, which makes it a rich hotspot for the consumption of nail care products, making it a lucrative market for both international and domestic brands. Indian population is young, dominated by Millennials and Generation Z, who have a huge appetite for nail care and cosmetics products. Various brands and start-ups are emerging in the Indian market like Unglis.com and O’2 Nails India, specifically targeting the nail care segment and offering various products and services.
Sugar Cosmetics is an Indian cosmetics brand, all of its products are created using organic and ethically sourced ingredients. Additionally, the business doesn’t include parabens, sulphates or synthetic scents in its formulations. The trend of frequently changing nail colours presents a huge possibility for business expansion due to increased fashion and beauty consciousness & growing affordability among women.
Growing Awareness and Importance of Nail Health
The concept of self-care has gained prominence and nail care is seen as a major part of this self-care routine. Consumers are becoming highly conscious of the significance of nail hygiene and wellness. People are purchasing items such as nail food, cuticle oils and serums that improve nail health, strengthen nails, and prevent damage as they become more aware of the need of maintaining healthy nails. Strong and well-maintained nails are desired by many individuals. The awareness of factors that can affect nail strength and growth, such as nutrition, hydration, and proper care, has increased. Consumers are seeking products enriched with vitamins, minerals, and nail-strengthening ingredients to improve their nails’ overall strength and appearance. The concept of nail health and nail care has given rise to many players in the wellness industry, like nail salons, spas, and wellness centres.
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Government Regulations
In India Nail Care products like nail polish, nail polish removers and others are regulated under the umbrella of cosmetics products. Drugs and Cosmetics Act, 1940 is the primary legislation governing the manufacturing, import, distribution, and sale of cosmetics in India. It provides guidelines for product labelling, packaging, safety standards and quality control.
The Drugs and Cosmetics Rules, 1945 give details on the procedure to manufacture cosmetics in India. Also, it defines that all cosmetics imported for sale in India must be registered with the licencing authority. The manufacturer who has a registered office in India, an authorised agent of the manufacturer, a subsidiary of the manufacturer and any other importer can apply for registration of cosmetics in India.
Nail care products must comply with specific labelling requirements. The labels should include information such as product name, ingredients list, manufacturing and expiry dates, directions for use, precautions, and contact details of the manufacturer or importer.
Increase in Professional Nail Care Services
Professional nail care services are becoming more and more necessary as consumers place more importance on grooming, aesthetic procedures, and personal care. The rise of nail salons and nail bars across Indian cities has made professional nail care services more accessible to consumers. These establishments offer a wide range of services including manicures, pedicures, nail extensions and nail art, attracting consumers who prefer professional nail care treatments. Urban areas in India have seen a rise in Western influences, including nail care trends. As more people adopt Western beauty practices, there is a greater demand for professional nail care services that provide the latest techniques, styles and products. These professional centres provide services to various cohort groups like millennials, Gen Z, Gen Y and others.
For example, the rapidly expanding nail care start-up O’2 Nails India has raised USD 150K in its seed round of funding. O’2 Nails India will be able to broaden its presence in the nation’s expanding nail care market due to this strategic funding. French salon brand Marie Claire Salon is expanding by opening a new outlet in Bengaluru, customers can boost their beauty experience by using the brand’s variety of beauty services, which include a nail art studio.
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Inclination Towards Nail Art and Extensions
Nail art and nail extensions continue to be popular trends in India, especially among the younger demographics. People are embracing unique and creative nail designs, patterns and embellishments as a form of self-expression and a way to enhance their personal style. Nail salons and technicians are offering a wide range of artistic options, including intricate designs, 3D nail art and customized nail extensions.
In nail art, categories like tape art, Swarovski art, ombre art, foil art, chrome art, stamp art and brush art are quite popular whereas, on the other side gel overlay, acrylic overlay, acrylic nail extensions, gel nail extensions and French nail extensions are popular choices of nail extensions in India. Bridal and festive nail art and extensions have gained significant popularity in India. Many brides and individuals attending occasions opt for elaborate and ornate nail designs that complement their traditional attire. Intricate mehndi-inspired patterns, embellishments and gemstones are commonly incorporated into bridal and festive nail art.
Impact of COVID-19 on India Nail Care Market
The COVID-19 pandemic has had a significant impact on the nail care market in India, as it has on various industries worldwide. The industry was affected due to various lockdowns, disruptions in supply chains, social distancing policies, job losses, changes in consumer buying patterns and whatnot. Major international brands from France, South Korea and the United States were short of raw materials and finished products due to import restrictions and supply chain disruptions. This also provided an opportunity for domestic brands to step up and capture a significant market share.
With limited access to nail salons, many individuals turned to at-home nail care routines. This resulted in an increased demand for DIY nail care products, including nail polishes, nail art kits and nail care tools that could be used at home. The closure of retail channels forced consumers to turn to online channels for their nail care product needs. E-commerce platforms and online beauty retailers experienced a surge in sales during the pandemic.
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