Huge market potentials for the global nail care market
With refer to the market research of the nail care market, analyst predicts that the global nail care market will reach a market value of around USD 9 billions by the end of 2019. Increasing fashion & beauty consciousness and rising disposable income across the globe especially fast growing China market are the major drivers. The global nail care market grows at an annual rate of 6% making it one of the most appealing businesses for the new and existing players.
Enormous business opportunities for China’s nail care market
In Asia Pacific, amidst the uncertain global economy and domestic economic downturn of other business sectors such as jewellery, fashion, consumer goods, etc, the Chinese nail care market continues to record strong current value growth that contributes to 19% of market value of the entire beauty industry; and is expected to continue to grow at an annual rate of 30% which far outpacing other economies.
The strong momentum is stimulated by the crucial and auspicious shift in Chinese women’s life styles and quality-of-life augmentation as women become more inspired by emerging career opportunities, rising disposable income, and generally seek greater life expectations. Their notable and increasing independence is being combined with a professional impetus to focus on their appearance. To become more distinctive in workplace, businesswomen demand for getting fancy nailart on their fingernails, including pastel colors or gems. Nailcare & eyelash industry thus become very popular in China and keep double digit growth recently.
As a cosmopolitan city, Beijing as a large population of high-net-worth individuals who has developed a sophisticated taste for quality-life styles. In the US, there are presence of 4 manicurists out of 10 people while only 1 manicurist out of 10 people in China at this stage. As a result, the nail care market and demand in China is still in fast growing stage and definitely more promising than other markets let alone the China population is four times bigger than the US.