Men's Nail Polish Market Size (2024-2030)

According to the report published by Virtue Market Research in Global Men's Nail Polish Market was valued at USD 310.50 million and is projected to reach a market size of USD 395.04 million by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 3.5%

In the past, due to lesser interest and the fear of being judged the market for men’s nail polish had a limited scope. Currently, a notable development has been made to normalize different appearances. This has caused the brands to release nail polish products specifically for the male gender. With evolving advancements, diverse offerings, and community involvement, this market is predicted to enlarge and appreciate different sorts of nail paint.

Key Market Insights:

Product launches by popular singers Harry Styles and Machine Gun Kelly, featuring nail care products, have sparked a surge in demand for men’s nail polish by 420% on the global online shopping marketplace.

As per a report in published August 2023, beauty searches for male beauty products rose by 137%.

In Japan, as per a questionnaire by the nail salon reservation app Nailbook, around 40% of men who painted their nails were praised.

According to a 2019 poll, 20% of males in the United States felt uneasy wearing nail polish owing to judgment and prejudices. To resolve and improve this, a greater percentage of the population has been advocating, encouraging, and accepting the change. Additionally, inclusive marketing activities are being carried out.

Men's Nail Polish Market Drivers:

Changing beauty norms has been a boon for market progress forwarding market sales.

There have been a lot of changes and acceptance in the lifestyle of the 21^st century. Men are being encouraged to care about their bodies and skin. A lot of younger boys are coming forward showing their interest in skincare and cosmetics. Changes in gender appearance are being appreciated and embraced. Social media is playing a huge role in the upliftment of the typical mindset. A lot of content creators and celebrities have been endorsing nail polish for men through their videos. This has encouraged and allowed all genders to destigmatize the prejudice formed. Online communities have helped this niche market through various tips about manicures, colors, and different types of nail art. Words of encouragement and embracement from all genders are helping this market to grow steadily.

Product variety and innovations are fueling the market growth.

Companies have started to recognize the fashion trends and are designing colors for men. In the coming years, more companies are expected to invest in these products. Unconventional catch colors, long-lasting paint, eco-friendly formulations, unique brushes, and other nail kits are a few creativities which has been induced in this market. New finishes and textures including matte, glossy, metallic, and chrome are being introduced into the market. Due to the diverse range of pastel and dark shades, many male models are usually asked to wear them to create new styles and gain more normalization from the public. Moreover, customization options are being enhanced for customer satisfaction. Furthermore, marketing and branding are being given the utmost importance to make this an attractive product.

Men's Nail Polish Market Restraints and Challenges:

Nail paint acceptance, health, and small availability are the main issues that are hindering the market growth.

Product disgrace is one of the biggest hurdles in the market. Awareness is limited and sometimes confined, creating a lot of stigmas. This can demotivate men from trying out new things. Secondly, constant exposure to harmful nail paints and other nail care products can cause a variety of health concerns ranging from mild skin irritation to severe respiratory difficulties.  Chemicals in nail polish have been found in studies to be absorbed by the body. Thirdly, there are limited brands who have invested and a lot of back and forth goes on in launching new products due to trolling and mockery.

Men's Nail Polish Market Opportunities:

A broader consumer base is aiding the market expansion. Product diversification like different shades, finishing, and formulations is providing the market with an ample number of opportunities. Eco-friendly mixtures coupled with sustainable packaging are attracting the vegan population and environmentalists. Prominence is being given to the creation of non-toxic formulations. Manufacturers can design new and creative nail polish formulas that are long-lasting, quick-drying, and chip-resistant due to technological advancements. Global expansion through social media presence is helping the market. Moreover, targeting LGBTQ+ communities creates a positive impact. Furthermore, companies are improving and changing their marketing techniques to attract a wider category of men.

MENS NAIL POLISH  MARKET REPORT COVERAGE:

Men's Nail Polish Market Segmentation:

Men's Nail Polish Market Segmentation: By Product Type:

• Liquid
• Gel

Based on product type, the liquid segment is the largest growing owing to wider color choices, affordability, quick-drying, appeal, accessibility, and ease of nail art. They hold a total share of around 54% in the nail polish market as per a report. The gel segment is the fastest growing in this market because of long long-lasting nature, durability, minimal maintenance, shine & and gloss, professional look, bolder and look. In the coming years, with growing embodiment and confidence, this segment is predicted to show an upsurge in development.

Men's Nail Polish Market Segmentation: By Finishes:

• Glossy
• Matte
• Glitter
• Satin
• Others

Based on finishing, the glossy segment is the largest growing. This is mainly because they gave more of a professional look. Additionally, consumer preference, availability, compatibility, versatility, and enhanced color appearance contributed to the success. As per a report, they held a total share of 26% in the nail polish market. The Matte segment has seen a recent increase becoming the fastest growing segment. This is because it gives a subtle look thereby being a gender neutral and an apt choice for men who wish to wear nail paint. Moreover, the easiness of nail art and aesthetics helps in augmenting the demand.

Men's Nail Polish Market Segmentation: By Distribution Channel:

• Supermarkets and Hypermarkets
• Independent Stores
• Specialty Stores
• E-Commerce

Based on distribution channel, specialty stores were the largest growing holding a share of around 38% in the nail polish market as per a report. These stores and salesmen prioritize providing natural and chemical-free solutions that pique customers' attention and allow them to choose from a variety of brands before making a purchase. Specialty stores allow buyers to select items based on category, shade, and color preferences. The face-to-face interaction and customer experience are the main factors driving the channel enhancement. E-commerce is the fastest-growing distribution channel holding a share of around 25% in the market. Online retail provides the option of going through a variety of brands which includes local and international. They can order the paints from the comfort of their house. Moreover, discounts and deals are occasionally provided because of festivals or mega-sale offers. Furthermore, customer service & reviews have been improved and updated through various features

Men's Nail Polish Market Segmentation: Regional Analysis:

• North America
• Asia-Pacific
• Europe
• South America
• Middle East and Africa

Based on region, Asia Pacific is the largest growing. As per many reports, this region is estimated to hold a total share of 38% of the market. Countries like India, South Korea, and China are at the forefront. This is because of gaining acceptance from the younger population, the positive outlook from social media, celebrity, and content creators’ brand endorsement, and changing standards. Urbanization has led to economic changes causing people to improve their standard of living by grooming. Moreover, positive words and compliments from social media and families are going a long way. Furthermore, popular K-pop bands like BTS, various singers, rappers, and other artists have influenced the younger mindsets to normalize these new changes. Europe is estimated to be the fastest-growing region holding a share of around 27%. Countries like Germany and the United Kingdom are the leading countries. This is due to rising affirmations, demand, product launches, and investments in nail paint especially for men. The rising desire for vegan goods among European consumers is expected to provide attractive prospects for expansion in this market throughout the forecast period.

COVID-19 Impact Analysis on the Global Men's Nail Polish Market:

The outbreak of the virus hurt the market. To prevent the virus from spreading, practically every venue imposed stricter limitations. Lockdowns, social isolation, and restricted movement became the new normal. All aspects of the supply chain, manufacturing schedules, logistics, and import-export commerce were disrupted, resulting in a recession. As a result, there was an economic downfall. Additionally, many people lost their jobs due to uncertainty and budget restrictions avoiding miscellaneous expenses. Hence, there was very little selling of nail paint. In mid-2020, estimates suggested that over 1.2 billion people worldwide were working remotely. This caused them to work in their comfort clothes without any dressing up. Moreover, remote work was known for imposing a longer work period on many employees disturbing the work-life balance. Many of them thereby neglected their grooming causing losses for the market. However, during the latter half of the pandemic, due to boredom, a lot of users signed up for social media platforms educating themselves about the new aesthetics and fashion.

Latest Trends/ Developments:

Companies are also spending heftily to improve existing formulations alongside maintaining competitive pricing. This has further resulted in increased enlargement.

Companies and influencers are focusing on gaining workplace acceptance, personal grooming, gender-neutral products, unique palettes, and personalized paints. Nail polish and associated goods, such as tools and accessories, are in high demand due to the rising popularity of nail art. This provides producers with a chance to diversify their product offerings and reach a wider client base. Recycling programs as well as environmental measures are becoming increasingly widespread.

Key Players:

1. OPI
2. Essie
3. Sally Hansen
4. China Glaze
5. Zoya
6. Orly
7. CND (Creative Nail Design)
8. Deborah Lippmann
9. Butter London
10. Floss Gloss

In June 2021, Faculty, a men’s brand launched nail polish by receiving funding of USD 3 million from Estee Lauder. This promoted other beauty products as well for men raising profits for the market.

In August 2020, Olive & June, a nail care and nail polish firm, closed its funding round. The aim of this was to increase its product portfolio and retail presence which included men’s beauty products as well.