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Professional Nail Care Market Posts Strong 2012 Growth, Kline Reports
Posted: January 16, 2013
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A trend of express nail bars, which has sprouted up in larger U.S. cities, also has become commonplace on Europe's high streets in recent years. In the U.K., the number of nail bars increased by 20% in 2012. In the U.S. and more frequently in Australia, salons are offering young girls and teens "nail parties" as a novel and successful take on birthday parties. At the regional level, all geographies posted double-digit growth in 2012, with Latin America leading the way with the highest increase of over 30% due to the increasing number of women in the workplace, steady launches of new products, and many cultural factors outlined in report. Developed markets, such as the U.S. the U.K. and Germany, also highly contribute to driving the market.
Leading professional brands vary by region, with the smaller local brands often leading within some regional markets. OPI holds a commanding lead on the overall professional nail care market with near 20% of total market share, followed at a distance by CND. Currently, recent product innovations allow nail artists to harness cutting edge technology, thereby decreasing service times to be cost competitive. With this in mind, marketers focus on covering extensive product portfolios so salons do not have to take on additional brands.
The study's findings reveal the professional nail care market will continue to grow, although at the slower pace. Having the right manicure and color has now become the norm, as opposed to a luxury, driving the market to prosper. However, the report says nail salons must stay current with the latest trends and technologies to remain competitive.
Continuous competition coming from other classes of trade, coupled with other new business styles, threaten the segment in most regions, according to Kline. The cyclical nature of the nail category may also swing out of the market's favor during the forecast period.
A free webinar on the subject is available Jan. 22, 2013, at 9 AM EDT (U.S.) Visit: http://bit.ly/XmE7sa