Nail colour market set to overtake lip colour
The nail colour cosmetics market is predicted to overtake the lip colour market this year, after equalling it for the first time in 2012. It is predicted to grow by 1.7% this year and reach a market value of £233 million – overtaking the lip colour’s estimated market value of £232 million.
Last year, both the lip and nail colour cosmetics markets posted a value of £229 million, an increase on 2011 where the nail colour market value was £3 million behind lip colour.
The growing popularity of nail colour products is reflected in the number of new product launches in the market – 2012 saw nail colour product launches up by 400% compared with 2008. From January-August 2013, new nail colour launches have accounted for 27% of all colour cosmetics launches, compared with 26% for lip products and 23% for eye products.
"The growth in new product development of nail polish can be linked to self-expression and the desire to keep up to date with current trends," says Charlotte Libby, household and personal care analyst at Mintel. "Nail make-up is also relatively purse-friendly, offering a range of affordable options and results that do not need daily application, cementing its position as a go-to sector for all consumer budgets."
Nail colour cosmetics are most popular with young women, with 72% of 16-24 year olds in the UK using nail polish. Nail colour products are more popular than false nails, with 59% of women in the UK using nail polish and just 7% using false nails.
The most popular new products so far in 2013 are colour cosmetics with long-lasting claims, with 45% of all colour cosmetics launched so far this year carrying this claim.