Chrome Nail Polish Market Size (2023 - 2030)

The Global Chrome Nail Polish Market was estimated to be worth USD 5.4 Billion in 2022 and is projected to reach a value of USD 11.33 Billion by 2030, growing at a CAGR of 9.7% during the forecast period 2023-2030.

Nail polishes or nail paints have been major have been a major form of self-expression and the beauty world for ages. In the olden days, when chemical-based polishes were not as available or even developed, people painted their nails with naturally sourced products. This gave temporary stains that were very easy to remove. Nail polishes were traditionally used by women as a part of makeup routines or by people that were predominantly performers in the theatre or the arts. But since then, nail polishes and their market have evolved significantly. It is becoming more commonplace for people of all gender identities to use nail polish. The use ranges from something for leisure and makeup routines to using it as a form of self-expression and art. Several different forms and finishes of the nail polishes have been developed and more innovations continue to be put forward as the time goes by.

Based on the finish provided by the nail polish, they are divided into shimmer, glitter, holographic, chrome, crème, and several more. Each after-application, give a different look and feel to the nails. Chrome nail polishes refer to a chrome-like finish given to the nails. It appears similar to a metallic foil and is often referred to as the metallic foil finish. It reflects light but it’s opaque enough that objects cannot be visible in it. A streak of light can be observed passing through if it’s exposed to direct sunlight or a phone flash. The chrome finishes have been more popularized recently as it is relatively different from a regular crème polish but is less eye-catching or flashy compared to glitter polishes.

Global Chrome Nail Polish Market Drivers:

Growing demand regarding the use of nail polishes across people of all genders and ages drives increased demand for Chrome Nail Polish across the globe:

In ancient times, nail polishes were only used by women or performers in the theatre and arts industries. But with the progression of time and cultural advancements, the market for the usage of nail paints and particularly chrome nail polish has expanded immensely. All people are investing more of their time and creativity towards nail paints. Men, women, and all people are gravitating towards the use of nail polishes as a means of self-expression or just as a fun leisure time activity. Initially, when the male customer base developed in the market they primarily gravitated towards black or other dark colors. This has since changed which has played a huge role for male customers in the chrome nail polish market. More elderly people are also gravitating towards using nail polishes to bring some color and brightness into their lives. It is a hobby for many. Several organic, cruelty-free, and chemical-free chrome nail polishes can also be used for children. This ensures that the kids can play around with colors and engage in a fun activity without the risk of being exposed to toxins.

Adoption of healthier and non-toxic formulas of Chrome Nail Polish is driving market growth:

Nail polishes are essentially applicable lacquer and are composed of several chemicals which make the application process smooth, give the bright colors, and help retain it for longer periods. But these properties are also what make it relatively damaging to the skin and the nail beds. It can cause long-term problems. To prevent all of this, more and more brands are gravitating towards the adoption of newer and better formulas. These contain minimal toxins and less harmful chemicals. Important precautions like oiling the cuticles before application are to be taken into consideration, but beyond that, the new-age chrome nail polish formulas are just as appealing but come in a healthier and greener form.

Global Chrome Nail Polish Market Challenges:

The major market challenges for the chrome nail polish market arise from the chemicals present in the nail polish. The chemicals are relatively weaker and seldom usage will not necessarily be harmful. But not taking proper precautions and prolonged exposure to these can sometimes lead to damage to the nail beds, discoloration in the nails, damage to the cuticles, and more. Children are especially attracted to these but most nail polishes cannot be put within reach of children as they have a major risk of ingesting them. This can cause gastrointestinal issues and other problems as well. Even in the case of adults if the nail polish is not properly applied and the top coat is not present the nail polish can chip and fall off into food, or be accidentally ingested. This happening frequently can cause trouble. Therefore, the harmful effects of the chemicals present in chrome nail polishes are major affecting and restraining the market.

Global Chrome Nail Polish Market Opportunities:

The chrome nail polish market possesses several distinct market opportunities for companies willing to venture into it. As aforementioned, the chemicals present in nail polishes cause several problems over time. This increases market opportunities for the development of nail polishes with more subtle and cleaner chemicals. This can ensure that the intensity with which the chemicals affect the nails decreases over time. Beyond that, nail polishes are often disposed of with the not the utmost concern. The bottles that store the nail paints contain portions of plastics and polymers that are non-biodegradable. The nail polish itself pollutes land and water if thrown away carelessly. Adoption of eco-friendly materials in the manufacturing of the bottle and adopting greener chemicals in the nail polish itself can majorly help the market.

COVID-19 Impact on Global Chrome Nail Polish Market:

The COVID-19 pandemic has had several crucial and negative effects across several different markets. Because of the contagious nature of the virus, governments and authorizable bodies imposed national and global lockdowns. Infected people were asked to quarantine to prevent further spread. Because of this, factories and manufacturing units were shut down which led to a halt in the production process. The transport of products was also stopped because of which supply chain issues were observed as sufficient raw materials were not provided and deliveries could not be made promptly. This adversely affected the market. But on the other hand, people had a lot of leisure time which led to the exploration of more hobbies and that led to a growth in the market as more people started applying and experimenting with nail paints, especially chrome polishes.

Global Chrome Nail Polish Market Recent Developments:

• In August 2020, the globally renowned brand, Sally Hansen launched its Marine Metals collection, which was aimed to be a major step in the chrome nail polish market. This was a collection of 5 chrome and glitter polishes that give a metallic finish.

• In April 2023, the famed global digital media company Refinery29, deemed the “Vanilla Chrome” nails to be the latest and most explosive trend in the manicure industry. It refers to polishes that give the nails a “glazed donut” like finish and are smooth and chrome.

CHROME NAIL POLISH MARKET REPORT COVERAGE:

Global Chrome Nail Polish Market Segmentation: By Product Type

• Regular Nail Polish

• Gel Nail Polish

• Others

Amongst the different products or formula types, regular nail polish held about 50% of the total market share making it the largest segment. Regular nail polishes are one of the most convenient products for everyday use and easy application. They are much cheaper than gel polishes and are more widely available. Gel polishes are more expensive and they require additional products like a UV lamp for proper application and good results. This makes them difficult to be widely used. Chrome gel polishes are also relatively less common than regular chrome polishes. But they are expected to grow with a significant CAGR during the forecast period owing to the finish that is obtained from them, the longevity of the polish after application, and the overall sturdiness as well. Other popular nail polish products include dip powders, acrylics, extensions, poly gel, and shellac nail polishes.

Global Chrome Nail Polish Market Segmentation: By Distribution Channel

• Hypermarkets and Supermarkets

• Specialty Stores

• E-Commerce

• Traditional Stores

• Other Channels

The specialty stores held the largest market position amongst their peers with over one-third of the total market share. These stores are popular because they provide in-person trying and color selection options which makes it easier to pick and choose the desired polish formula and color. They also give several brand options to choose from which aids the customers in making an informed decision. The e-commerce sector is expected to grow at the fastest CAGR during the forecast period owing to the increasing popularity of the overall online shopping market. Technological advancements have made it easier and more accessible to choose and shop for chrome nail polishes from the comfort of their homes.  Because of the elimination of several middle sectors, nail polishes purchased from an online store offer more discounts and are often cheaper.

Global Chrome Nail Polish Market Segmentation: By Region

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• South America

The Asia-Pacific market has held over a quarter of the total market share and is expected to show steady growth during the forecast period of 2023-2030 as well. This growth can be owed to the growing population possessing disposable income as the growing interest in people regarding self-grooming and beauty techniques like manicures. A large youth population in countries like India also aids the same.

Global Chrome Nail Polish Market Key Players:

1. OPI Products

2. Chanel

3. Essie Cosmetics, Ltd.

4. L'Oreal India Pvt. Ltd.

5. Unilever India Exports Limited

6. Shiseido

7. NARS Cosmetics Inc.

8. The Estee Lauder Companies Inc.

9. Lakme Lever Private Limited

10. Oriflame India Private Limited