According to the latest report by Reports and Data, the size of the global Nail Polish Remover Market was USD 1,285.0 Million in 2021, and it is anticipated to record a compound annual growth rate (CAGR) of 3.1% in terms of revenue during the forecast period. The market’s revenue growth is being propelled by the increasing popularity of fashion trends and rising expenditure on nail care products.
The involvement of celebrities in promoting eco-friendly cosmetics and personal care products, particularly nail polish and nail polish remover, is expected to have a positive impact on younger consumers. Teenagers who spend a significant amount of time online tend to prefer online articles, new products, and celebrity endorsements. This trend is likely to present numerous opportunities for market growth and increased revenue during the forecast period.
The rising global awareness of environmental issues is driving the growing consumer interest in natural and non-toxic nail polish remover. Consequently, there will likely be a substantial increase in the usage of organically produced materials in nail polish remover formulation in the coming years. This, in turn, is expected to drive the market’s revenue growth over the forecast period.
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Major Companies:
Pagoda srl, Colorbar Cosmetics Pvt. Ltd, Cosmetics India Private Limited, ORLY International, Inc., Kure Bazaar, Karma Organic Spa, Miss Claire Cosmetics, KIKO Cosmetics Retail Pvt. Ltd., Coty Inc., and Deborah Group.
Driving Factors and Restraints of Nail Polish Remover Market:
The market for nail polish removers is expanding as a result of rising fashion trends and rising spending on nail care products.
Increasing customer interest in natural and toxic-free nail polish remover as a result of increased environmental consciousness worldwide.
Younger consumers are anticipated to benefit from rising celebrity involvement in the promotion of eco-friendly cosmetics and personal care items, particularly nail polish and nail polish remover. Teenagers who spend a lot of time online tend to prefer online articles, new products, and celebrity endorsements, which is likely to present a variety of opportunities for market growth and increased revenue during the forecast period.
Restraints:
- The availability of counterfeit products in the market is expected to restrain the growth of the nail polish remover market.
- Strict regulations regarding the use of certain chemicals in nail polish remover formulations may limit the growth of the market.
- The potential health hazards associated with the use of nail polish remover may also negatively impact market growth.
- The COVID-19 pandemic has led to the closure of nail salons and reduced consumer spending on non-essential products, which may have a short-term impact on the nail polish remover market.
Notable Innovations of Nail Polish Remover Market:
- Non-toxic and natural formulations: In response to increasing consumer demand for environmentally-friendly products, many companies have developed non-toxic and natural formulations of nail polish remover. These products are free of harsh chemicals like acetone and are made with natural ingredients like soy, corn, and wheat.
- Gel and Dip Powder Removers: With the growing popularity of gel and dip powder nails, many companies have developed specific removers for these types of nail polish. These removers are formulated to quickly and effectively dissolve the gel or powder without damaging the natural nail.
- Quick-dry nail polish remover: Many companies have developed quick-dry nail polish remover that is designed to remove nail polish quickly and efficiently. This is particularly useful for people who are short on time or have busy schedules.
- Innovative Packaging: Some companies have introduced innovative packaging for nail polish remover, such as a brush applicator that allows for easy and precise application.
- Nail polish remover pads: Nail polish remover pads are pre-soaked pads that contain nail polish remover. These pads are convenient and easy to use, making them a popular option for on-the-go nail polish removal.
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