The Global Nail Glue Market is projected to rise at a significant rate expanding at a considerable CAGR over the forecast period of 2022-2030.
Nail glues are defined as a type of adhesives that are used to efficiently stick artificial nails into the fingers.These nail glues are predominantly made by combining methyl methacrylate and ethyl cyanoacrylate. These components are powered with the ability to form strong bond with each other that in turn prevents the detachment of fake nails. Also, these can also be used to repair damaged nails.
Additionally, the rising popularity of artificial nails among the millennial population along with increasing disposable income of the masses are the primary factors augmenting the outlook of this business vertical. Also, the rapid variations in the beauty and fashion trends and surging appearance consciousness of the masses are creating lucrative opportunities for the marketplace to prosper.
Key Market Trends
Every market has its growth determinant and challenges. One of the major factor that has fueled the market growth over the forecast period is the rising disposable income of the masses. The shifting inclination of celebrities towards artificial nails integrated with vibrant colors and designs is adding momentum to the progression of this business sphere. Also, growing focus of industry players to develop and launch effective nail glue ranges is aiding the expansion of this marketplace.
Additionally, there has been a steep rise in the number of individuals with high disposable income levels. The prompt industrialization and economic developments have created robust earning opportunities for the masses. Since artificial nails are expensive in nature, they can only be afforded by people with a high spending power. Also, rising employment rates among women is regarded as one of the pivotal factors aiding the expansion of this market since females are the primary consumers of artificial nails.
On the flip side, the onset of COVID 19 had hampered the market growth but the market has seen a significant growth in the market over the forecast period. The emergence of the coronavirus pandemic brought the entire world to a standstill. Governments pertaining to various nations announced indefinite lockdowns to curb the virus spread. This in turn caused massive disruptions in the supply chain of nail glue industry. Moreover, the pandemic also took a toll on the economy of various nations, thereby reducing the spending power of the masses.
Effect of COVID-19 on the World Nail Glue Market
Due to the broken supply chains, shut down retail outlets, and global lockdown caused by COVID-19, the market's growth was significantly impacted. In addition, the cost of raw materials also soared. However, the number of social media influencers surged during COVID-19, thus female influencers used false nails, nail glue to adhere false nails, and other methods to improve their reel image. To entice users to spend money on beauty and nail items, the e-commerce platform also provided a variety of discounts and rewards on such products. In turn, this kept the market's growth steady throughout the pandemic. The nail glue market is thus significantly affected by the COVID-19.
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Segmental analysis of the Market
Based on Product Type
- Solid Color
- Gradient Color
- Others
The solid color has dominated the market growth in the forecast period. This is because it is more preferable for the customers.
Based on Source
- Plant based
- Animal Based
The plant based segment is reckoned to register significant return over the estimated timeframe owing to the rising trends of veganism among the masses.
Based on Application
- Residential
- Commercial
The commercial segment is projected to grow considerable by 2030 because of the rising popularity of artificial nails among celebrities.
Based on Distribution Channel
- Online
- Offline
The online segment is poised to amass notable gains over the stipulated timeline ascribing to the rapid internet penetration across the globe.
Asia Pacific is anticipated to amplify at a considerable CAGR
The is segmented into 5 main regions namely, North America, Europe, Asia Pacific, Latin America, and Middle east and Africa. Among these, Asia Pacific has dominated the market growth over the forecast period. This is because it is attributed to the rising beauty consciousness of the masses, the booming entertainment industry, and presence of potential players.
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Competitive Landscape
Some of the prominent players operating in the market are Ardell lashes and beauty, Intercontinental nail products manufacturer, Hand and nail harmony, Marmalade cosmetics, Anise cosmetics, Kiss products, Dashing diva, Sheba’s nails, No nails, Young nails, and Parfums de Coeur.
Frequently Asked Questions:
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