The nail color and care market in the US grew 72% since 2007, with sales estimated at $2.5 billion at the end of 2012. Growth is expected to continue through 2017, albeit at a slower pace than previous years, with sales expected to reach just over $4 billion.
And it looks like the market has young women and moms to thank for the growth. According to latest research by Mintel, women in households with children are more likely to use most nail care products than those without children in their homes. This is particularly notable with nail art accessories where nearly a quarter (24%) of women with children report usage compared to 11% in households without children.
Moms are an important consumer group that might be tight on time and lack the extra income to spend at a spa but are still looking to treat themselves to some fashion-forward beauty. Furthermore, 79% of those with children use colored nail polish versus 65% without children and 22% of respondents with children report using artificial nails as opposed to only 9% without children, according to Mintel.
Women in households with children are more likely to use most nail care products than those without children in their homes, according to Mintel.
Young women are also helping to drive the segment. Use of colored nail polish is highest among women aged 18-24 with 85% reporting usage compared to 71% of total female respondents. Younger women also show elevated use of nail art, artificial nails and gel nail polish, as they are likely more influenced by fashion trends and are willing to experiment with new looks, according to Mintel.
“Nail care users younger than 35 are significantly more likely than their older counterparts to view wearing nail polish as a way to express their personality and follow fashion trends. Meanwhile, those between 35 and 44 feel that painting their nails is a way to pamper themselves” and carve out some ‘me time’ in their busy schedules,” said Romanowski.
Expense plays a large role in why women do their nails at home, but it is not the only issue. Just over half (54%) of women say they would get their nails done more often at a salon, but it’s too expensive; however, some 27% are concerned about health and safety issues at salons and 18% think getting their nails done in a salon simply takes too much time.
More info: www.mintel.com