Nail Polish and Service: Brazil
We estimated that the size of the Brazilian nail care industry is $798 million.
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).
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.