Nail Polish and Service: Brazil

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Nail Polish and Service: Brazil

We estimated that the size of the Brazilian nail care industry is $798 million.

FINDINGS

We searched research reports from multiple agencies like Goldstein Research, Technavio, QY Research, etc.; industry portals like the Brazilian Association of the Cosmetics, Toiletry and Fragrance Industry; and websites of nail product companies like Maybelline, Dior, Revlon etc. However, we did not find the required information precompiled in any of these sources. Given this limitation, we triangulated an estimate using data points we gathered across sources.
Reports we came across use nail care, nail products, and nail polish interchangeably. For example, a “nail care” report by Goldstein referred to the services market as well as the products market, while a “nail care” market report by Technavio only referred to the products segment (it did not refer to services). We have used sources based on how reports describe the segments they cover (products and/or services) and not by the name (nail care/ nail products/ nail polish) they used to refer to the industry.

ESTIMATE FOR NAIL CARE (PRODUCTS + SERVICES)

According to Euromonitor, Brazil had a 9.5% share in the global personal care and beauty market in 2013. It ranked third after USA and Brazil.
Goldstein Research estimated the size of the 2018 global nail care market to be $8.4 billion. Assuming that Brazil’s share in the nail care segment is the same as its share in the global personal care and beauty market (9.5%) in 2013, the market size of the nail care industry in Brazil is $798 million (9.5%*$8.4B).

ADDITIONAL INFORMATION

NAIL PRODUCTS MARKET SIZE ESTIMATE 1

In 2014, the nail products market in Brazil grew by 13% to $973.60 million. It was the second largest market after the US. Assuming that it grew at the same rate, the current market size for nail care products in Brazil is $1,587 million ($973.60((1.13^4).

NAIL PRODUCTS MARKET SIZE ESTIMATE 2

Mintel estimated the Brazilian nail color products segment to be worth 1,648,700,000 Brazilian Real ($427,458,449) in 2016. As defined by Mintel, nail color products comprise nail polish/varnish.
According to Technavio, the nail polish segment makes up 63.25% of the global nail care market. Assuming that this statistic also holds true for Brazil, the Brazilian nail care market is worth $675,823,635 (($427,458,449*100/63.25%). However, the Technavio report does not mention anything about the services segment. Therefore, we assumed that by nail care it means nail products (not services).

NAIL PRODUCTS MARKET SIZE ESTIMATE 3

QY Research estimates the market size of the global nail polish industry to be $9,190 million. As the nail polish segment makes up 63.25% of all nail care products, the market size of the nail products segment is $14,530 million. Brazil’s share of the global market is 9.5%. Therefore, the size of the nail products market in Brazil is $1,380 million (9.5%*$14,530M).

Product segment market size estimates 1 and 3 do not concur with the overall market size (products + services). This difference may exist owing to the fact that different agencies have used different methods and reference points to arrive at the market size. They have simply been included to show that a disparity exists. As the Goldstein estimate refers to both the products and services segment, we have stuck to it. The market size of the Brazilian nail care industry is $798 million.

Sources
Sources

Quotes
  • "Brazil’s cosmetics market will reach a value of US$6.4 billion by 2019, according to a new report published by Technavio."
  • "The nail products segment dominates the cosmetics market in Brazil and is growing at a faster pace compared to the other segments. The nail products segment includes, nail polish such as nail cream, nail gel, and nail oil. The market is driven by the introduction of new products such as special effect polishes and the rise of new entrants such as Studio 35 and Koloss."
Quotes
  • "The global nail polish market is expected to reach USD 15.55 billion by 2024, growing at a CAGR of 9.5%, according to a new report by Grand View Research, Inc."
Quotes
  • "The global Nail Polish market is valued at 9190 million US$ in 2018 is expected to reach 17600 million US$ by the end of 2025, growing at a CAGR of 8.5% during 2019-2025. "
Quotes
  • "Global Nail Polish market size will increase to 17600 Million US$ by 2025, from 9190 Million US$ in 2018, at a CAGR of 8.5% during the forecast period."
Quotes
  • "The Global Nail Care Market size is expected to reach $13 billion by 2024, rising at a market growth of 5.3% CAGR during the forecast period."
Quotes
  • "Goldstein Research analyst forecast the nail care market size is set to reach USD 13.31 million by 2024 from the current USD 8.4 million, growing at a CAGR of 5.9% over the forecast years. "
  • "On the basis of products, nail colors has the largest market share of 38.0%, being fashionable they are consumed more often, hence they have the highest demand."
Quotes
  • "As per the report compiled by Transparency Market Research (TMR), the global market for nail care is likely to witness steady growth during 2017-2022. The market is projected to register 5.8% CAGR and is also projected to bring in US$ 11,998.1 million revenue by 2022 end."
  • "Nail polish is likely to be one of the top-selling product in the global nail care market. By 2022 end, nail polish is projected to bring in nearly US$ 6,400 million revenue."
  • "Compared to the various sales channels, health & beauty retailer are likely to emerge as the most lucrative sales channel. Health & beauty retailer is projected to surpass US$ 4,300 million revenue towards 2022 end."
  • "Premium nail care products are also projected to exceed US$ 6,800 million revenue by 2022 end."
Quotes
  • "Nail products in Brazil posted strong growth of 13% to total $973.60m in 2014"
  • "Brazil's nail products market may be positioned second to the US in terms of size, but its growth rate is far higher. In 2014 nail products posted a strong current value growth of 13% to total $973.60m. Nail polish is the biggest colour cosmetics category in Brazil, accounting for a value share of 22%."
Quotes
  • "As per Goldstein Research, Brazil cosmetics market is valued at nearly USD 14.68 billion in 2017 and is anticipated to grow at a CAGR of 4.76% during the forecast period 2017-2025."
Quotes
  • "In 2014, the retail market value for the segment was 6.41 billion of Brazilian Reais. In 2016, the market expanded to 6.82 billion; the segment is expected to reach 6.97 billion in 2017 and 7.68 billion of Brazilian Reais in sales."
  • "In 2016 the market value for the segment reached 6.8230 billion of Brazilian Reais, of which 1.8160 billion in lip products; 1.7557 billion in eye products; 1.6487 billion in nail products, and 1.6026 billion in face products."
Quotes
  • "Nail Products are products that are used to color the nails, to protect them against damage, to soften and condition cuticles, and to supplement the nails. They include nail polish and enamels and nail polish and enamel removers. "