Nail Polish and Service Market Size: India
The estimated market size of the nail care business in India is around Rs7.2 billion or $103.74 million at the end of 2017. This includes products applied to nails and the accompanying nail salon services. Meanwhile, the total market size of the nail care products segment was derived to be at around $101.64 million, while the market size of the nail care services segment was calculated to be worth $2.1 million.
We started our research by looking for directly available data of the nail care market size in India. We searched for this information in various sources such as in market research sites like Tech Sci Research, Wise Guy Reports, Grandview Research, Transparency Market Research, Vogenix, Kline Group, and others; consumer business industry reports such as Franchise India, Chemarc, and others; consulting sites like Deloitte, PWC, and similar sites; business-related sources such as India Business Today, Forbes, Business Insider, and others; financial sites such as The Economic Times, Money Control, WSJ, FT, and other similar sources; press release sources such as from Cision, Newswire, and others; media outlets such as India Info Online, CNBC, and other relevant sources. Based on this search approach, we were able to find an estimated amount of the market size of the nail care business in India that includes nail products and services. However, we were not able to find readily available breakdown of the nail polish and nail care services segment. What we found was the percentage of all the nail products' share in India's cosmetics market. We then used this data to calculate the breakdown of the nail products and the nail services areas to approximate the market sizes of these segments.
Our search stategy above also resulted in the discovery of several paywalled reports such as those coming from Tech Sci Research, Wise Guy Reports, Grandview Research, Transparency Market Research, Vogenix, and the Kline Group that contain the global nail products' market size and the geographic segmentation breakdown. This can be used as an option to further verify the market size data that was obtained from the local sources above. There were also some outdated data points explored to get more available insights about the nail care business in the market.
We also tried to approximate the market size by trying to obtain the revenue of the key players in the nail care products and services market in India. However, the revenue data of the key players were not specific to their nail care businesses only. Furthermore, the revenue data of the top players in the nail services sector were not fully available.
We then checked if there are consumer associations or government entities in India such as the Department of Commerce, and others that released reports on the market size for nail care in India. Based on this search strategy, what we found are general beauty industry reports. There were no data found on these sites that are specific to the nail care business in the country.
Based on these strategies, we then consolidated our findings on the nail care market size data and other relevant information in the section below.
Nail Polish and Service Market Size: India
The market size of the nail care business in India was estimated to be around Rs7.2 billion or $103.74 million at the end of 2017. This includes products applied to nails and the accompanying nail salon services. Globally, the nail polish market size is expected to reach around $15.55 billion by 2024.
The nail care products segment accounted for 22% of the Rs32 billion ($462 million) color cosmetics market in India. Based on this, the nail care products segment in India was calculated as follows: 22% X $462 million = $101.64 million.
From here, the nail services market size was derived from the following calculations:
Total market size of the nail care products segment as calculated above: $101.64 million.
Total market size of the nail care services segment = $103.74 million - $101.64 million = $2.1 million
NAIL CARE BUSINESS IN INDIA
Nail polish and lipstick are the most sought-after cosmetic products in India. These two segments accounted for 70% of the Indian cosmetics market.
Some of the best-selling brands in the country are the following: Revlon, Estee Lauder, LA Splash Cosmetics, Kiko Milano, The Face Shop, Hindustan Unilever, Nails Mantra, Nail Spa India, and Nail Bar. Nail Bar was introduced to the market 12 years ago. Nails Spa India has around 20 retail outlets across the country.
Females who are between the ages of 11 to 75 years old are the main customers of nail care services. Some types of nail service has an estimated cost of Rs5000, around $72.04, or more.