Nail Glue Market is estimated to grow at a CAGR of 7.5% by 2030

Description

According to the Market Statsville Group (MSG), the global nail glue market is estimated to grow at a CAGR of 7.5% from 2022 to 2030. The growing trend of nail art and false nails will drive the demand for effective and reliable nail glue to stick false nails, accessories on nails, and others. The emerging fashion and entertainment industry will create lucrative opportunities for the market’s growth in forthcoming years across the globe. However, the use of double-sided tape or fashion tape may hamper the market growth.

COVID-19 Impact on the Global Nail Glue Market

COVID-19 had a significant impact on the market’s growth, due to the disrupted supply chains, closure of retail channels, and global lockdown, the raw material prices were also increased. However, social media influencers' count increased during COVID-19, so in order to enhance their reel image, female influencers adopted false nails, nail glue to stick false nails, and others. The e-commerce platform also offered various discounts and rewards on such products to lure customers to spend on beauty and nail products. This, in turn, managed to keep the market’s growth gradual during the pandemic. Hence, the COVID-19 has a significant impact on the nail glue market.

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Scope of the Global Nail Glue Market

The study categorizes the nail glue market based on product type, source, application, distribution channel, at the regional and global levels.

By Product Type Outlook (Revenue, USD Million, 2017-2030)

• Solid Color
• Gradient Color
• Others

By Source Outlook (Revenue, USD Million, 2017-2030)

• Plant-based (Vegan)
• Animal-Based

By Application Outlook (Revenue, USD Million, 2017-2030)

• Residential
• Commercial

By Distribution Channel Outlook (Revenue, USD Million, 2017-2030)

• Online Channel
• Offline Channel

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By Region Outlook (Revenue, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

The source segment accounts for the highest CAGR in the market

On the source basis, the adoption of plant-based vegan products has increased drastically among all segments at the global level. Hence, the vegan segment accounted for the major market share in 2021 and is estimated to showcase the highest CAGR compared to animal-based. Further, growing government or NGO initiatives to prevent animal cruelty for fashion purposes will also propel the adoption of plant-based products. This, in turn, fuels the demand for plant-based nail glue in forthcoming years.

Regional Analysis of Nail Glue Market

On a regional basis, North America has accounted for the highest market share in 2021 due to the presence of major market players across the region, adopting various strategies to lure potential customers to the market. Followed by Europe, Europe is a fashion hub and thus, possesses huge potential for the market’s growth.

However, Asia-Pacific is estimated for the highest CAGR during the forecasting period. The growth is attributed to the emerging entertainment and fashion industry across the region, coupled with growing nail art trends across the region, which will pave the way for the market’s growth in upcoming years.

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Key Market Players in the Global Nail Glue Market

Key players operating in the nail glue market adopt various key strategies such as agreements, acquisitions, partnerships, and expansion to strengthen their market positions and gain major market share. The nail glue market is highly concentrated in nature.

Major players in the global nail glue market are:

• KDS Organic
• KISS
• NYK1
• Nailtiques
• IBD
• Nailene
• Mia Secret
• 5 Second
• ECBASKET
• Nanpao Resins Chemical Group

Article source: https://article-realm.com/article/Finance/22662-Nail-Glue-Market-is-estimated-to-grow-at-a-CAGR-of-7-5-by-2030.html